photo: options
Lviv region is in third place among the regions of Ukraine, where most companies are registered by Turkish citizens. According to a study by the analytical company YouControl, 243 companies have chosen a place of residence in the Lviv region, which is 6.8% of the total market. In first and second place were Kyiv, where 40.9% of companies are concentrated, and the Odesa region with 15.8%. Kharkiv and Kherson regions were also among the top five.
According to the study, this distribution is explained by geographical location and the influence of some economic factors. In particular, the Lviv region is chosen because of its proximity to the EU markets – Ukraine’s main trading partner. Similarly, Kharkiv region was chosen according to the same indicator – proximity to Russia (before the war started in 2014).
Read also: Kharkiv: «Commercial, multicultural, tolerant, Russian-speaking … and Ukrainian»
Kyiv has become a leader because it is the most populous metropolis in the country with the highest level of business activity and, consequently, purchasing power. Odesa and Kherson regions entered the top 5 due to the lack of a land border and the presence of the largest ports for transhipment of major export goods in the structure of Ukrainian exports to Turkey (grain and metals).
Among the sectors of the economy, the most popular among Turkish businessmen are wholesale and retail trade. Next are the processing industry and the information and telecommunications sector. The top five is closed by companies engaged in construction, as well as transport, warehousing, post office and courier activities. The leading sector by the number of Turkish companies is electricity, gas, steam and air conditioning (1.21%), followed by temporary accommodation and catering (0.74%), followed by information and telecommunications (0.69%).
In total, for 30 years of Ukrainian independence, Turkish businessmen have opened 3,592 companies. More than 92% of them still operate on the Ukrainian market and are not in the process of termination.
We will add that earlier, a Turkish company «Beta engineering» plans to build a plant for the production of bitumen in the Lviv region. Currently, the investor is considering whether it will be the production of only bitumen or other mineral products.
Translated by Vitalii Holich
You can read a Ukrainian language version of this story here.
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Lviv Now is an English-language website for Lviv, Ukraine’s «tech-friendly cultural hub.» It is produced by Tvoe Misto («Your City») media-hub, which also hosts regular problem-solving public forums to benefit the city and its people.
