Regional Economy
Odessa Oblast is the industrial region which has preserved its great traditions till nowadays. Traditions, dynamics and innovations – these are the factors that reflect Odessa region industry. While growth rates of industrial production in Ukraine in 2003 amounted to 15.8 %, in Odessa region this parameter amounted to 18%.
The main increase of industrial production is provided by such strategic branches as food-processing industry, machinery, chemical and petrochemical industry.
Innovation is the leading principle for many companies based in Odessa. Figures show that investments in innovative products rapidly rose over the past two years and innovative activity was pursued by 33 enterprises.
There is no doubt that Odessa region is attractive for foreign investors. Eight ports, two international transport corridors, developed communications, Eurasian transport corridor, exit to the sea and Danube are the basis of the regional transit potential.
The region has a capacious market, which gives additional advantages to investors. Besides, Odessa is an educational and scientific center; therefore we have enough qualified and professional labor resources.
Odessa region is extremely favorable for investors. It is one of the few regions, which has inflow of labor force, minimum unemployment rate, and some dynamic indexes of economic growth. Odessa oblast is a leader in some spheres, such as lodging construction, infrastructure development, creation of the financial institutes, enterprises of non-banking financial service and banking system.
Odessa region enjoys considerable experience of working with foreign investors. First example is the development of Eurasian transport corridor. It is being implemented in the framework of the TRASECA program, financed by the EU. The second project is the construction of gas-compressor station in Tarutino, which is one of the most powerful in Europe. Due to this construction the capacity of the gas pipeline “Ananyev-Izmail” was highly increased.
Regional authorities provide active support for foreign investors. Favorable conditions for investors are provided by assistance to every project during all its stages; issues of reducing amounts of local taxes are also considered.
Administration strives for providing investors with the wide range of information about the potential of the region by international meetings, forums, and visits of foreign delegations.
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About Odessa region 
