The Supreme Council of the Autonomous Republic of Crimea has approved the Program for development of investment activity in the autonomy in 2014-2016. The program is aimed at creating favorable conditions for investment and international technical assistance to be used to support sustainable growth of the economy of the Crimea, to upgrade infrastructure and to improve the quality of life of the Crimeans, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

Some 51 investment projects with the total estimated cost of 7 billion USD will go on in 2014-2016.

As noted in the document, the Program will be financed from the republican and local budgets, own funds of enterprises, investors and international technical assistance. The total funding for the three years will be 35.7 million UAH including 32.4 million UAH from the budget of the Crimea and 3.2 million UAH from other sources.

The expected results include improving of the investment climate and the economic growth. The inflow of foreign direct investment within 2014-2016 is expected to be 390.1 million USD.

The program should result in an inflow of foreign direct investments of up to 1.9 billion USD, the growth of exports - up to 1.2 billion USD, the growth of imports of goods - up to 1.1 billion USD by early 2017.

According to government analysts, among major investment projects are launching a cattle farm at Pervomaysk, reconstruction of the Mriya resort complex in the Big Yalta and Yalta-Intourist hotel.

Construction projects of greenhouse complex using solar energy and thermal waters in Yantarnoye, Krasnogvardeisky area, construction of wind farms in the Chernomorskiy area, and solar power plants in the Leninsky area are also promising.


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