The funds of local business entities and organisations, operating on hromada’s territory, are one of its largest financial sources. Therefore, the more successfully the business develops, the better the entrepreneur will feel, and the more revenues the hromada will get.

This idea was expressed by Vasyl Fedyuk, adviser on coordination and regional development planning of the group of experts of the Regional Development in Policy and Action, created with the support of the U-LEAD with Europe Programme, in the “Modern Hromada” programme of the Ukrainian Radio.

“Amalgamated hromadas are able to create favourable investment climate. They have to strive for it, since their future depends on investments. For instance, a company in the Mykhailo-Kotsyubynska AH of the Chernihiv Oblast, with the assistance of local authorities, has recently opened a flake manufacturing company, invested USD 10 million in it, created hundreds of jobs for hromada residents and adjacent territories. This is the growth of economic, export potential of the hromada and its confidence in the future,” said Vasyl Fedyuk.

According to the expert, much can be done by the hromada to attract investment and stimulate entrepreneurial activity on its territory. “Economic development needs to be built on the basis of hromada’s existing competitive advantages. Thus, the hromada should make an inventory of its assets: natural, industrial, human resources. Something unique should be found to attract an investor,” said Vasyl Fedyuk.

Full record of the programme is available HERE

“Modern Hromada” is released with the support of the U-LEAD with Europe Programme every Wednesday at 19:30.

Main photo: DOBRE