In 2022, the Fastiv municipality completed work on its investment passport. The document covers and summarises proposals for investors. In particular, the transformation of an unused property into the Modern Economy Centre, as well as the development of an industrial and logistics cluster are proposed.
In June 2022, the Fastiv municipality received a proposal to develop an investment passport with the support of U-LEAD experts.
“Until now, we did not have an investment passport in the current format. We constantly worked with potential investors: experts prepared proposals with information about the properties to inquire about. However, we lacked a single summary document. As a result, professionals of the executive committee of the city council with U-LEAD experts structured and summarised information about investment properties, creating a tool that would help to attract investments and promote the sustainable development of the municipality in such a difficult time,” said Mykhailo Netiazhuk, Head of the Fastiv municipality.
The Fastiv municipality consistently works on the development of its economic potential. In 2016, the FastIndastry Industrial Park was created. A plot of land for the park was allocated and entered into the Register of Industrial Parks of Ukraine. It currently has three resident companies, two of which are already at the stage of implementing their investment projects. Fastiv further founded the FastIV Industrial-Logistics Cluster, an organic neighbourhood of four important components: industry, logistics, innovative educational space and a business development centre.
The document was drafted at the Department of Economy and International Cooperation of the Fastiv City Council.
“When working on it, we made inquiries to the executive bodies of the city council and its utility companies, cooperated with educational institutions, cooperated with the youth and businesses. Institutions and interested stakeholders were involved,” said Nataliia Forosenko, Head of the Department of Economy and International Cooperation.
During the development of the investment passport, it was decided to build upon the already existing projects and achievements of the municipality, to modernise them, supplementing them with new proposals and components.
The creation of FastDream, a modern economy centre was among these projects.
“For the project, the municipality offers a municipally owned building in the city centre. There we envisioned creating the Modern Economy Centre with co-working spaces, innovation and art education spaces, 3D workshops, conference halls, urban project space, Urban Sky and offices, as well as a coffee shop and a food court. Importantly, this space has a bomb shelter, and therefore meets safety requirements,” said Nataliia. According to her, the cost of the project may vary between EUR 1.0-1.2 million.
In the municipality, a centre like that will contribute to the development of the event service and the provision of comprehensive services for holding forums, conferences, workshops, exhibitions and other events. In turn, according to the developers of the investment passport, this will ensure revenues to the local budget and contribute to the development of small and medium-sized businesses.
As Nataliia Forosenko emphasised, although the investment passport is mostly intended for external investors, it helps local businesses find partners, attract funds, etc.
Olena Ivanchenko, Head of the Regional Office of U-LEAD with Europe in the Kyiv Oblast, stated the following:
“An investment passport is a business card of the municipality that shapes its positive image in the eyes of potential investors and offers stakeholders comprehensive information about investment opportunities. When developing this document, you should employ a highly customised approach based on the specific features of the municipality and the strategic vision of its development. Move away from general templates and avoid working off a blueprint. I’m happy to see that the Fastiv municipality was able to develop a high-quality white paper that will contribute to its municipal development.”
Check out the investment passport on the official website of the Fastiv City Council.