The affirmed rating of investment attractiveness of Sumy city is due to significance of the city as a regional centre. Favourable natural and climatic conditions, as well as the industrial potential, which provide additional opportunities for investors, are constrained by infrastructural problems, in particular, by obsolete engineering and transport networks, facilities of housing and municipal economy, etc. At present, modernization and reconstruction of such facilities are being carried out, including with the participation of international financial organizations.
Activities on increasing the level of managerial culture in the city and with regard to improving the investment climate, along with the coordination of actions of the local authorities’ officials in solving key issues of the city life, create certain potential for growth of indicators of economic development in a number of sectors of the economy. In order to contribute to attracting of investments into the city economy and to simplify the process of interaction between investors and bodies of the local authorities, a procedure based on the principle of a «Single investment window» for filing, review and monitoring of investment projects has been introduced in the city, as well as the City Mayor’s Council on issues of attracting investments into the economy of Sumy city functions.
Sumy city is inherent in high indicators of social and economic development, some of which exceed the average indicators per capita in Ukraine (industrial products sold, retail and foreign trade turnover, budget provision).
Activity of foreign investors in the city is not high, and is accompanied by a decrease in the FDI volume. Instead, the volume of assimilated capital investments has been increasing for several years in a row. Thus, in 2016, it amounted to UAH 2 054.7 m having increased by 41.3% as compared with 2015.
The city is inherent in good provision with establishments of health care, education and culture, all the key transport infrastructure is available. Indicators of personal income are at a lower level than the average personal income in the country. A decrease in the available population is observed, which occurs due to the labour migration and a natural decrease.
A positive impact on the rating of investment attractiveness may have, as follows: improved regulatory framework and successful implementation of the basic programs of the city development, an increase in most indicators of the social and economic development to the state level, improved conditions of the infrastructure. A negative impact on the rating may have, as follows: further obsolescence of the infrastructure, detection of complaints from investors on activities of the local authorities, decline in the city development indicators, reduction of investment volumes.
In order to perform the analytical research the materials obtained from Sumy city have been used, including: indicators of social and economic development, materials of statistical bulletins; annual Treasury statements, program materials, other necessary internal information, as well as the information from the public sources, which the Rating agency considers reliable.
