Investment opportunities in Ukraine
In 2012, ukraine and Poland will host the uEFA – EuRO 2012 European Football Championship. According to estimates, as many as 400 000 foreign fans and tourists should visit ukraine in connection with the event.
EURO 2012 means a huge investment opportunity for ukraine and Poland.
According to official information of the Ukrainian Football Association, the matches in Ukraine will take place in Kiev (Olympic Stadium), Dnipropetrovsk (Dnepr Stadium) , Donetsk (Stadium) and Lviv (Ukraina Stadium); Kharkov and Odessa have, however, also been mentioned. In connection with the organization of EURO 2012, immense investments are awaiting Ukraine, especially in the areas of transportation infrastructure, sport and city infrastructure, accommodation and catering complexes, hospitals, energy supply networks, etc.
The Ukrainian government estimates that the overall investments for the preparation and organization of the Championship will reach the amount of UAH 120 billion (USD 24 billion). The state is prepared to invest USD 2.52 billion, and local governments have plans for almost USD 1 billion. This means that approximately 90 % of all investments, i.e. USD 21.5 billion, will have to be invested from private sources.
The estimate of overall investments in Lviv, for example, reaches EUR 200 400 million – in cooperation with Hochtief, the city has been developing project concerning the construction of a stadium on an area of 6 ha, with another 27 ha designated to be used for the construction of hotels, restaurants, shopping and entertainment centers, residential houses, etc...
The first private investments have already materialized:
In September 2007, the Prime Minister A. Klyuev and a representative of American Sun Land Group Corp., Chose Daniel Meyea, signed a Partnership Memorandum between the government of Ukraine and Sun Land Group Corp.
Sun Land Group Corp. is planning to invest resources especially into the construction and reconstruction of transportation infrastructure in the volume of approximately USD 6 billion. It plans the construction of major highways connecting western and eastern parts of the country and northern Ukraine with the country’s southern part.
The construction of these highways generates further investment opportunities – it will be necessary to build more facilities – hotels, parking lots, gas stations, stores, catering facilities. The governments of Romania and Ukraine are planning to ask the European Union for a contribution to another transportation project - the construction of a traffic corridor connecting both countries in the Bukovina area. Investments in the housing and municipal area remain a large challenge for foreign investors. Businessmen from Germany, for example, have declared their preparedness to invest EUR 5 billion into this field. Investment intents have also been declared by other countries– Israel, Portugal, Austria, Italy, Belgium, Switzerland, Czech Republic, Turkey and others.
The information has been provided by Jana Vasilenková, managing director in the company accace TOB in Kiev, which is the subsidiary of the company accace k.s. with its headquarters in Bratislava. The company provides services such as outsourcing of accounting, payroll agenda, tax advisory and establishment of company and is focusing on companies with international operations, which run their business through branches in various European countries. For more information see www.accace.eu.
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december 2007/január 2008
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