The city of Dnipro could be Ukraine’s new entrepreneurial hub

    dnipro

    Dnipro isn’t the capital city of Ukraine, but it is the capital of the Ukrainian mining industry, machine-building, metallurgical and chemical industry. It is also situated at the geographical heart of the country in a position that gives it access to big business and consumer markets. Over 40,000 companies have their operational base in this region, and it accounts for more than 30% of the Ukrainian GDP.

    The vast regional market situated close to Dnipro is bigger in terms of prospective consumers than the domestic markets from 20 of the 27 member countries of the European Union (not including the UK). The Dnipro region’s B2B market is likewise extremely attractive, particularly when you take into consideration the fact that numerous local factories are directed towards international markets and have steady revenues. These factors have determined an important amount of American, European and Turkish investors to acquire their own success stories in Dnipro.

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    For instance, the giant American agribusiness Bunge has an oil-processing industrial plant and grain elevator in Dnipro. Austrian Primetals Technologies (an appurtenant of Siemens and Mitsubishi Industries) and Italy’s Danieli Heavy Machinery Engineering have both established a powerful local presence with offices in Dnipro. German company HeidelbergCement is building a series of quarries and cement-producing factories in the area. Turkey’s Miroplast and Axor factories cover local need for PVC and accessories for windows and doors, while also shipping to international export markets. These are just some representations of international investment in a broad range of industries.

    In addition to Dnipro’s many competitive benefits, new advancements in the Ukrainian business environment are also making the investment status more attractive while having a constructive effect on the local business community. Many previously long and unmanageable operations have been made more efficient and modernized. Things like registering a new company, working with the tax bureau and opening construction sites have all undergone important simplification. In numerous cases like those aforementioned, the whole procedure has been moved online as Ukraine progressively embraces e-government.

    A range of fundamental information that is essential in order to guarantee property rights is currently accessible to the public via online registers. This includes information on legal entities, real estate titles and court decisions. As a consequence, property rights are now more simple to apply.

    Since 2016, Ukraine has canceled hundreds of constraining regulations and document requirements, including the registration of foreign investments. Across the legal and business communities people are feeling a major positive change in the fight against corruption. Numerous corrupt state officials at the local and national levels have faced charges of abuses, with several already convicted by the courts.
    All these positive trends help to make Dnipro an increasingly attractive choice for prospective international investors.

    Roxana Maria Sabau