«Why invest in Mykolaiv?»: Sienkevych believes that without additional financial resources, the city will not develop its economy

Mayor of Mykolaiv Oleksandr Sienkevych. Photo: hromadske

The mayor of Mykolaiv, Oleksandr Sienkevych, believes that without additional financial support, the city and other frontline areas will not be able to develop their economy.

He said this in an interview with hromadske, commenting on the low cost of housing in the city and its investment attractiveness.

According to the mayor, due to the constant shelling and Russian propaganda that scares of a possible capture of the city, some residents are leaving, and businesses are in no hurry to invest.

«In fact, without additional financial levers, there will be no economic development in Mykolaiv today. We have a law on industrial parks and taxation rules that are the same across the country. We, as representatives of frontline communities, have a common problem — proximity to the Russian aggressor. And business is always about profit and risk. Usually, the greater the risk, the greater the profit. The risks in Mykolaiv and the risks in Uzhhorod are different, but the rules are the same. We are in the same tax zone. So the logical question is: why invest in Mykolaiv? There is no answer.» Constant shelling, Russian propaganda that says «we will take Mykolaiv, Odesa, Kharkiv», affect people. We cannot keep them, but we must provide everything necessary for those who remain,» said Oleksandr Sienkevych.

He added that after the war is over, the state should create special conditions for such territories, including taxation and special economic mechanisms. In his opinion, when the level of risks corresponds to the possible profits, investors will start coming to the city, opening businesses and creating jobs. Then people will come back and buy housing because they will have jobs here.

It should be noted that Mykolaiv remains among the Ukrainian cities with the cheapest housing. Over the past six months, apartment prices have remained almost unchanged, while rents have fallen. In contrast, in the western regions, in particular in Lviv and Zakarpattia, housing prices have risen significantly.