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UKRAINE’S ECONOMY

 

Ukraine is rich in mineral resources. It completely satisfies her needs in iron, manganese and titanium ores, as well as in rock salt, cement gypsum, mineral paints, heat resistant clays, bromine, graphite, mercury and uranium.

Steppes and plains compose the most part of the territory of Ukraine (95 percent). The topsoils are mainly black. They are the biggest treasure of Ukrainian land. Twenty five percent of the world’s black rich soils are in Ukraine. Together with the fact that Ukraine’s climate is mainly moderately continental, and the sediments are 300-600 millimeters, it allows for considerable progress in agricultural production after the village is reoriented towards the market economy.

Because of her potential Ukraine is an industrial-agricultural country. Her machine-building potential includes tractors and agricultural machine building, production of diesel locomotives and railroad cars, automobiles, rockets, sea and river vessels, refrigerators, TV-sets, washing mashines, electric motors, industrial robots, motor-cycles, equipment for metallurgic, chemical, mine and textile industries, appliances and many other complicated products. Well-developed are black and colored metallurgy, chemical, oil and wood processing, and the cellulose-paper industries.

Since its independence Ukraine has confronted economic problems. The situation today is better in one very important respect than it was in the preceding years: inflation, which was running at 3300 percent annually in 1993 has been reduced.

The main lines of reform now need to be introduced. Some of the main requirements are:

- to pursue a macroeconomic policy which will balance government income against expenditures ;

- to close down inefficient factories and to invest in new industries, especially export-oriented;

- to phase out subsidies, particularly to inefficient producers;

- accept that, some decline in total output cannot be avoided in the meantime;

- to introduce a coherent program of privatization, directed not least at the break-up of the very large and poorly managed collectives;

- to stimulate exports, especially hard-currency producing;

- to curb imports so far as possible and to develop import substitution industries;

- to reduce further total energy consumption;

- gradually to introduce free market mechanisms which will eliminate the need for price and wage controls;

- to attract Western investment without sacrificing traditional interests and links with Russia and the CIS;

- to educate and train new generation of managers who have the ability to implement coherent market reforms at all levels;

that Ukraine needs external assistance to tackle its immediate problems is obvious. The government has been able to attract some inward investment.

 

 

INDUSTRY IN UKRAINE

 

Ukraine possesses considerable potential in such sectors of the economy as machine engineering, aerospace, telecommunications, textile, clothing, footwear, and agriculture (due to its unique soils).



 

Furthermore, Ukraine has a powerful defence industry, significant scientific potential and has shown considerable achievements in the field of designing brand new technologies that meet international standard requirements.

Machine engineering and military industrial complexes have started to produce about 200 types of new products which had not been manufactured in Ukraine before. Among them are food–processing machinery, medical equipment, transportation vehicles, construction materials and equipment, small farming machines and home appliances.

Ukraine’s major industrial area is in the south-east, namely the Donbas and the Prydniprovye region (Kryvyi Rih coal basin, Zaporizhia, and Dnepropetrovsk). Concentrated here are coal mines, iron and manganese ore deposits, ferrous iron metallurgical plants relating to the chemical, petrochemical and machine building plants and power station.

Among the 150 branches of the national economy, one of the leading is ferrous metallurgy.

In the field of non-ferrous metallurgy, Ukraine holds the monopoly in the CIS in the manufacture of metallic titanium which is vital importance for the economy.

The Ukrainian chemical industry producers mineral fertilizers, herbicides, sulphuric acid, soda, chemical fibers, plastics and other products.

The petrochemical industry of Ukraine is capable of refining 62 million tons of crude oil per year.

 

POTENTIAL INVESTMENT PROJECTS IN INDUSTRY

 

1. Pharmaceutical and medical instrumentation.

a) Reconstruction of a Kiev pharmaceutical plant of the production of ready-to-use drugs.

b) Production of essential oils and other inputs for the pharmaceutical industry (capacity 200 tons a year)

2. Engineering and machine-building.

 

a) Production of lead-acid batteries

b) Reconstructions of plants produce refrigerator compressors

c) Development and production of digital frame data processing systems.

3. Ferrous and non-ferrous metallurgy

a) Production of high quality ingots, semi-finished products billets from titanium, nickel and titanium and nickel-based alloys.

b) Production of rolled raw aluminium billets.

4. Paper, pulp, and woodworking.

a) Construction of straw cardboard factory.

b) Construction of a bleached straw pulp factory.

c) Construction of a palnt for the production of bleached pulp.

5. Power generation facilities.

a) Construction of Chigirin natural gas and steam power plant.

5. Chemical and petrochemical industries.

a) Equipment for production of laminated plastic (reinforced plastic and laminated insulation)

b) Production of fertilizers at ‘AZOT’ plant.

c) Production of sterol.

d) Production of aniline

e) Construction of deep-sea refinery plant.

f) Turn-key project for vacuum oil refining with hot-oil distillation equipment.

 

The Agro industrial Complex and Industries Associated with it:

 

Updating and modernization of processing enterprises of food industry; laying-in and storing of the agricultural products; development of enterprises producing machinery for farmers and individual

productions; equipment for oil-fat, meat-diary, flour-grinding, and bread-backing industries, min-shops for farmers, production of effective chemical means for protection of plants; increased output of polymer pipes for provision of gas supply in rural areas, development of enterprises for output of rolled metal sheets, pipes, and metal ware with protective coating.

 

Manufacture of Consumer Goods and Rendering of Services of People:

 

Expanded production of electric, television and radio equipment, electric appliances, motocycles, bicycles, cars and spare parts for them; further increase in output of wool, fabric and leather raw materials, clothing products, foot ware, furniture, wall-paper, paper products; development of facilities for manufacturing passenger transport means at the machine-building plants and enterprises of the defence industry; increase in the output of medicines, medical and veterinary equipment, diagnostic apparatus; development and technical modernization of the material and technical basis of the transport complex’s branches that provide public services.

 

Fuel and Power Supply Complex:

 

Creation of new andb safe generating plants at the nuclear, thermal and hydroelectric power stations; increase of coal production; introduction of new gas and oil deposits; construction of new systems of gas-mains; expansion of capacities at oil terminals in sea ports and stations.

 

Metallurgical Complex:

Introduction of steal melting in basic oxygen furnace with its continuous casting; further increase of rolled products with protective coat.

 

Complex of Chemical and Petroleum-Chemistry Industry:

 

Creation of modern enterprises based on more thorough and complex processing of resources of the carbohydrate raw material and byproduct coke industry’s raw materials, resources of sulphur and and polymineral ores, installations of improved refining of crude oil; further development of plants for manufacture of modern polymer materials and products based on these materials.

 

Timber Industrial Complex:

 

Creation of enterprises for enhanced processing of timber, first of all, the enterprises of pulp and paper industry and enterprises for manufacture of wooden plates.

 


Date: 2015-01-29; view: 1132


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