The Chernivtsi Region deserves the attention of investors as a region with great potential for doing business and implementing investment projects

The FIT for Ukraine Bukovyna Industry Forum brought together some 500 large and medium-sized companies, government representatives, investors, financial institutions and managers of retail chains: Fruit and vegetable processing in Chernivtsi.

The agenda of the first panel of the event focused on the realities and prospects of investment in the fruit and vegetable market.

Key messages from the speakers

“Processing, production and added value are the three goals that need to be achieved to get rid of the archaic label of “breadbasket” and become a production, innovation and intellectual centre of the post-industrial world! The joint work of the government, the public and the business community is the key to Ukraine’s success,” said Igor Marchuk, MP, member of the Supervisory Board of UkraineInvest.

“Market flexibility allows us to strengthen the added value of agro-processed products. Companies in the Chernivtsi region are leaders in processing, organic production and juice exports. Gastro-tourism can become an additional tool for attracting investment to the region,” said Yuliia Hrytsku-Andriiesh, Advisor to the Head of the Regional State Administration.

“Ukraine can produce high-quality fruit and vegetable products for export to foreign markets, opening up new opportunities for development and increased profits. These areas not only make it possible to use the potential of Ukrainian raw materials, but can also become part of a business diversification strategy for producers, helping to reduce risks and increase competitiveness,” said Taras Bashtannik, Chairman of the Ukrainian Fruit and Vegetable Association.

“Europe needs a unified agricultural voice. It is important to form a common position of agribusinesses and communicate it to the authorities and international partners. Currently, the industry has several different positions between processors and growers on the one hand, and retail chains and suppliers on the other, so informal diplomacy is the key to solving the problem,” said Roman Korinets, Deputy Head of the Committee of Agribusiness Entrepreneurs at the Ukrainian UCCI, President of the National Association of Agricultural Advisory Services of Ukraine.

“Our municipality has 178 greenhouses, about 900 private farms are engaged in vegetable production, the sown area of vegetable crops is 1000 hectares, and the annual production of vegetables is over 30,000 tonnes,” said Viktor Dron, Head of Klishkovets territorial community.

“When choosing a location, investors look at the raw material base. It is impossible to grow vegetables without developing a system of land reclamation. “Chumak is considering the possibility of building new processing facilities, especially for tomatoes,” said Oleksandr Boyko, Deputy Director for Development of the National Processor “Chumak”.

“We have certified 14 hectares of orchards in the Chernivtsi region, where we harvest the raw material and ship the product to HIPP, which speaks volumes about its quality, and we have also started building our own processing complex in the Ivano-Frankivsk region with foreign investment,” said Nikita Bortnik, Manager of finished products at PE SF “Interagrocom”.

“Our aim is to bring the region’s producers up to international standards. To this end, Auchan has launched the ‘Fireworks’ project – gifts of nature grown by farmers who support sustainable production and care for the environment, their employees and their working conditions. There are currently seven such “fireworks”, including apples from the Chernivtsi region,” said Iryna Fostiak, Manager of Auchan hypermarket, Chernivtsi.

The panel discussion was moderated by Nazar Kohut, Investment Advisor, Investment Advisory Department, UkraineInvest.

The purpose of the forum is to create an information and presentation platform for agribusinesses, highlight the prospects for investment in the region’s industry, increase its competitiveness and export potential for the rapid recovery and development of the Ukrainian economy.

The event also included an EXPO zone where regional companies presented their products and services.

Organisers:

UkraineInvest – the Government Agency for Investment Promotion and Support

Chernivtsi Regional Military Administration

USAID Investing for Business Resilience Project

FIT for Ukraine is a series of investment forums for businesses interested in Ukraine’s reconstruction. In 2023, more than 7,000 people from 65 countries participated in FIT for Ukraine events.