I
n accordancewithexpert estimates, the
investment potential of thewesternCrimea
exceeds $3billion.What is the investment
potential of thewholeCrimea? It is not
known right now as for this itwouldbe
necessarynot only to conduct in-depth
analysis of social andeconomic situationof the
Crimea, but also tomakea thorough inventory
of land resources – it hasnot beendone in the
Crimea at theproper level. There are some
European expertswho rank theCrimea –
without costly research – among regionswhose
investment potential is virtually limitless. Having
suchpromising estimates, why cannotwe say
that theAutonomous RepublicCrimeahasbeen
successful inattracting investments?Whywasnot
it possible tocapitalizeon the limitlesspotential
of thepeninsulawhich, havingunique resources,
still hasnotwon the fameof theFrenchRiviera,
SpanishMajorcaorDubai (theUAE)?
On theonehand, the investors claim they
donot enjoy, so far, thenecessary support and
guarantees from the state. On theother hand,
we know from theexperience that theproblem
cannot be solved solelyby lobbying at the state
level the interestsof the investors. Thereare
todaymany investorswhowould like to invest
their funds intowidelypromotedpropertyat the
southerncoast of theCrimea. However, in the
most cases, suchprojects aremotivatedonlyby
adesire toobtainquickdividends. As a result,
the investment inflows into theeconomyof the
peninsuladon’t comply todaywith its recreational
requirements; sometimes, for the sakeof up-to-
the-minute so-called“economicexpediency”, the
rules arebeing ignoredwhich longagobecame
an invariableprinciple for serious investors.
The international experience testifies – in
order toestablisha recreational zoneat theareaof
1hectare it isnecessary to invest some$50mln.
(It is anaverage index; for thecomparison, during
theerectionof ‘Burj Dubai’hotel, some$4blnhave
been invested into1hectare).
It is not quiteunderstandablewhy some
peoplebelieve that thenatural resources of the
Crimea are in itself aunique attractive factor
and additional investments arenot necessary.
Themost curious thing is however thatmany
peoplewho are accustomed to and like to
spend their vacations in theCrimea, are ready to
sacrifice their expectations for a certain comfort
THEWESTERNCRIMEA
Is ReadyToAccept Investments
OLEGRUSETSKY, CHAIRMAN
OFPERMANENTCOMMISSION
ONAGRARIAN ISSUES,
ECOLOGYANDRATIONAL
USEOFNATURE, UNDER
THESUPREMECOUNCILOF
AUTONOMOUSREPUBLIC
CRIMEA
BUSINESS EMIRATES
156
ÍÅÄÂÈÆÈÌÎÑÒÜ, ÁÈÇÍÅÑ, ÈÍÂÅÑÒÈÖÈÈ
ÓÊÐÀÈÍÀ -ÎÀÝ
