89
ÍÅÄÂÈÆÈÌÎÑÒÜ, ÁÈÇÍÅÑ, ÈÍÂÅÑÒÈÖÈÈ
by
RUSSIAN EMIRATES
For instance, International Commercial Bank and
Czech construction company PSG International
a.s. signed amutual investment agreementwith
regard to constructionof anewdevelopment
compound in Simferopol. The construction
project is tobe completed in3 years and the cost
of 1 squaremeter in thenew apartmentswill be
650-750USdollars. In addition to this project, the
parties are considering commercial construction
of residential compounds in Feodossia andYalta.
Resort complex is considered themost
promising sector for development inCrimea.
It includes 644 companieswithown facilities.
Taking into account this situation, it is quite clear
that there is a very strongpotential inCrimea
for development of resort industry. Construction
of recreational facilities inCrimeagoes at a fast
pace, too.
Today, Crimea is considering thepossibility
of implementationof 32 investment projects in
resorts and recreational sphere for theoverall
amount of 300millionUSdollars. Theseprojects
provide for constructionof European-level
hotels and resorts, sea-water pools, aquaparks,
amusement parks, etc., inCrimea. Over thepast
three years, 35pools complyingwith European
standards havebeenbuilt or reconstructed.
In thepast,most of the investors financing
the real estate sectorwereUkrainianbut lately
foreignbusinessmen alsobecame interested
in investinghere. It is quitepossible to state
THE INFLOWOFFOREIGN
CAPITALTO INDUSTRIAL
ENTERPRISESCONTINUES
ANDTHIS ISAVERY
IMPORTANTFACTOR.
INVESTORSDIRECTED149.9
MILLIONUSDOLLARS, INTO
THISSPHERE, OR33.8%OF
THEOVERALLAMOUNTOF
INVESTMENTS
UKRAINE–UAE
that Autonomous Republicof Crimea is one
of thebestmarkets for capital placement for
foreign-country investors. By theway, in January
– September, 2005, the investments intoCrimean
economy equaled114.4millionUSdollars, which
exceeds the investment of the sameperiodof
theprevious year by 1.7 times.
The inflowof foreigncapital to industrial
enterprises continues and this is avery important
factor. Investorsdirected149.9millionUSdollars,
into this sphere, or 33.8%of theoverall amount
of investments. Also, foreign investorsplaced69.8
millionUSdollars, or 15.7%of the total investment
into thehotel business inCrimeaand126.2
millionUSdollars intohealthcare industry (asof
10.01.2005), or 28.5%of theoverall invested sum.
Investment activities are still going at their
fastest pace inYalta: as of October 1, 2005, the
enterprises and resort/sanitary institutions of the
city received171.6millionUSdollars.
Discussions on constructionof a top-grade
highway from Simferopol toBakhchisaray to
Yalta areunderway. The autobahn construction
is necessitatedby the requirement put forward
by the investors: tourists shouldbe able toget to
their resort areas in fortyminutes or less.
There is another investment project:
Crimeangovernment discusses thepossibility
of constructionof a large railroad andmotor-
transport terminal around the8th kilometer of
Balaklavahighway.
ÑRIMEA - UKRAINE
