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Investment potentialThe Sumy Region is located in the north-eastern part of Ukraine, with its administrative center in the city of Sumy. It borders Bryansk Region (Russia) to the northeast, Belgorod and Kursk Regions (Russia) to the east, Poltava Region to the southwest, Kharkiv Region to the south, and Chernihiv Region to the west. Seven major rivers flow through the Region, the largest of which is the Desna River. The Sumy Region lies 334 km from Kyiv, 199 km from Kharkiv Airport, and 744 km from the Odesa seaport. The Region has Sumy Airport and is crossed by international highways E38, E101, E381, E391, and M02, ensuring efficient transport connectivity.
Administratively, the Sumy Region is divided into five districts, comprising 15 cities, 20 urban-type settlements, and 1,458 villages.
The Region’s industrial profile is diverse, including chemical and pump engineering, agricultural machinery production, instrument-making and radio electronics, mechanical equipment manufacturing for agro-industrial processing, and iron ore and mining industries. Additional key activities include printing, pharmaceuticals, oil and gas refining, chemical production, film and photographic materials manufacturing, and the production of chemical fertilizers.
Sumy Region’s gross Regional product (GRDP) amounts to $2.9 billion, accounting for 1.91% of Ukraine’s GDP. The volume of foreign direct investment (FDI) totals $624 million, with major investors including Kusum Pharm, Technologia, Gualapack, Mondelez, and Grain Alliance. Exports reached $0.9 billion, representing 2% of Ukraine’s total exports.
Industry specialization: food products, chemical products, and high-tech mechanical engineering.
Natural resources: oil and gas, amber, construction materials, peat, phosphates, and sand.
Sumy Region is one of six participants in the Swiss-Ukrainian undertaking “Cohesion and Regional Development project” (UCORD). Within this initiative, the Region receives support to strengthen management capacity, coordinate recovery and development efforts, and foster cooperation between government, business, and local communities. Participation in UCORD enables the implementation of practical solutions in the areas of SME development, environmental services, and social cohesion. The project enhances the performance of the Sumy Regional Development Agency, facilitates collaboration across administrative levels, and attracts resources for the Region’s strategic initiatives.
The Region hosts seven universities and eight technical schools. Leading institutions include Sumy National Agrarian University, Sumy State Pedagogical University named after A.S. Makarenko, and Sumy State University. These institutions serve as key centers of research and human capital development for the Region’s industrial and technological base.
In 2023, the unemployment rate was 10.1% (compared with the national average of 9.9%), while the average monthly salary reached $524 (versus the national average of $627).
Investment opportunities in Sumy
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