Ivano-Frankivsk region is currently creating new opportunities for international business, by combining industrial potential with an openness to partnerships and active regional development. Vira Savchenko from BDO in Ukraine participated in the international webinar “Ukrainian Regions: Focus Ivano-Frankivsk”, organised by the Czech-Ukrainian Chamber of Industry and Commerce.
Representatives of businesses, investors, regional institutions, chambers of commerce and industry, and international partners who are interested in developing cooperation with Ukrainian regions attended the event. The focus was on practical mechanisms enabling international businesses to access the Ukrainian market via regional partnerships, industrial projects, and local investor support ecosystems.
Participants discussed the strengths of the Ivano-Frankivsk region: its developed industry, energy sector, agricultural sector, IT ecosystem, tourism potential and the active development of industrial parks. It was noted in particular that the region has become a key centre for business relocation, with over 200 enterprises from other parts of Ukraine having moved there.
Considerable attention was paid to international cooperation and investment opportunities. The region currently cooperates with 66 countries worldwide, implements grant and cross-border projects, and actively promotes the growth of small and medium-sized enterprises.
In his opening remarks at the webinar, Markus Ciupek, Vice President of the Czech-Ukrainian Chamber of Industry and Commerce, emphasised the importance of systematically developing Czech-Ukrainian business partnerships and the role of the regions in Ukraine’s economic recovery. In his presentation, he outlined the Chamber’s activities as a strategic platform for establishing international cooperation, attracting investment and supporting long-term projects between Ukrainian and Czech companies. He also mentioned the Chamber’s active work in organising business missions, sector-specific events, supporting Ukrainian companies at international exhibitions and developing investment initiatives for Ukraine’s reconstruction.
During her speech, Tetyana Zbyrak, Director of the Regional Development Agency of Ivano-Frankivsk Region, presented the Ivano-Frankivsk region as one of the most resilient and investment-attractive regions in Ukraine. She highlighted the region’s significant industrial, agricultural and tourism potential, and its active development of industrial parks, renewable energy sources and international partnerships. Particular attention was paid to support offered to relocated businesses. Currently, over 200 such enterprises are operating in the region, and international grant and infrastructure projects are being actively implemented. Tetyana Zbyrak stated that the Ivano-Frankivsk region creates favourable conditions for long-term investment, production development and the integration of Ukrainian businesses into European markets.
“The Ivano-Frankivsk region is now a safe region for business development and a platform for international partnerships, industrial projects and long-term investment. We are open to cooperation and ready to support investors at every stage of their projects”.
During the presentation, Olha Nizola, Head of the International Relations Department at the Ivano-Frankivsk Chamber of Commerce and Industry, discussed practical ways to support international businesses and minimise investment risks in the region. She emphasised that the Ivano-Frankivsk region boasts a well-developed business support system comprising administrative services, cluster associations, business incubators, and investor support institutions. She also highlighted the opportunities offered by the region’s industrial parks, state incentives for investors, mechanisms for insuring against war risks and the region’s active international cooperation with European partners. According to Olha Nizola, the region is already a reliable platform for developing manufacturing and B2B partnerships, and for integrating Ukrainian businesses into European supply chains.
First and foremost, Vira Savchenko, the CEO of BDO Ukraine, emphasised that the Ivano-Frankivsk region should not be viewed merely as a separate region of Ukraine, but as part of the future economic integration between Ukraine and the European Union. She emphasised that Ukraine’s western regions are becoming a platform for developing joint production facilities, logistics hubs, service centres, industrial cooperation and nearshoring projects for European businesses. Vira Savchenko paid particular attention to the practical aspects of international companies’ operations in Ukraine: risk assessment, partner vetting, investment projects structuring and creating “bankable projects” ready for financing by international institutions. She stated that, in oder to attract investment effectively, Ukraine needs to move from simply listing requirements to developing a fully-fledged pipeline of prepared projects with clear financial models, governance structures and straightforward implementation mechanisms.
Vira Savchenko recommended the following key principles to international businesses working with Ukraine:
- view regions as a platform for joint development rather than merely a sales market
- categorise risks and manage risks through due diligence mechanisms
- create “bankable projects” with clear financial and operational logic
- use European financial instruments to support investment projects
- combine Ukraine’s recovery process with enhancing its long-term competitiveness
“Ukraine is neither a “cheap peripheral market” nor a temporary reconstruction project. It is a robust industrial, agricultural, engineering and service partner for European businesses. It is now important to view regions such as the Ivano-Frankivsk region not merely as sales market, but as a platform for creating shared long-term economic value,” Vira Savchenko noted.
A separate section of the webinar was dedicated to international support programmes. Dominika Sinkova presented the Capacity Building programme of the Czech Ministry of Industry and Trade in particular, which promotes the development of international partnerships and the organisation of business delegations, as well as supporting cooperation between Ukrainian and European companies.
Our company is grateful to the Czech-Ukrainian Chamber of Industry and Commerce for organising this professional discussion and creating a platform for developing international business dialogue between Ukraine and the Czech Republic. We believe that regional initiatives, investment projects and cross-sectoral cooperation are laying the foundation for Ukraine’s future economic development.
BDO in Ukraine assists Ukrainian and international businesses with investment advice, market analysis, support for investment project and assistance with entering the Ukrainian market. Learn more about our investment consultancy services. If your company is considering collaboration, investment or project development opportunities in Ukraine, get in touch with the BDO team in Ukraine.
