Kyiv region governor reports on investment projects progress

The majority of these funds (almost 42%) was used for reconstruction and technical upgrade of industrial enterprises, said head of the Kyiv regional state administration Volodymyr Shandra. Another 24% were spent on housing construction, 13% - for development of retail and agribusiness sectors. "Because of the war the country saw a plunge in its investment climate. Today, a foreign investor will think well before he enters our market and invest his money. However, our work on improving the investment climate is constantly progressing, and in the first half of 2015 the region booked almost $28 million in foreign direct investment, " said the official. In terms of capital investment the Kyiv region is ranked third in the country now. This year the region reports that such projects as biopharmaceutical research and production complex Biopharma in the city of Bila Tserkva and logistics terminal FLC-Invest were implemented using investor’s funds. "Better business climate helps beef up local revenues and create new jobs. Also, business environment depends on citizens’ disposable income. The average monthly salary now equals almost UAH 4,000 thousand in the Kiev region and we are in the top five regions for this indicator, " said Volodymyr Shandra. He noted that in order to improve the business climate there are 37 centers for providing administrative services that issued year-to-date about 3,000 permits and licenses and provided more than 6,000 consultations.