Sienkevych, in his capacity as a Doctor of Economic Sciences, sold a risky Mykolaiv to investors

The mayor of Mykolaiv, Oleksandr Senkevych spoke at the Expats Investment Summit forum, which took place on June 6–7 in Varna, Bulgaria. In the event program he was presented not only as the mayor of a city living in wartime, but also as a Doctor of Economic Sciences and the sole representative of Ukraine on the Board of Directors of the Global Covenant of Mayors.

It was with this status that Oleksandr Senkevych presented Mykolaiv to foreign business: he spoke about post-war recovery, an industrial park, the city’s transport location, its strategic importance for Ukraine, as well as the Master Plan and the City Development Strategy through 2027.

During the discussion the mayor stated that investing in Mykolaiv and other Ukrainian regions today is associated with high risks, but that these risks, in his view, can provide businesses with higher profits.

“Just so you understand, as a businessman I know what business is. So what is business about? It’s about profits. Profit depends on what? On risks. So the more risks you have, the greater your profits will be. If you have low‑risk operations, the margin will be two, three, five, maybe up to twelve percent. But if it’s a risky business — thirty, forty is possible. Therefore, if we talk about today, in Mykolaiv, as in much of Ukraine, you can find good, great investments,” — said Oleksandr Senkevych.

Energy projects were also mentioned at the forum, in particular the area of energy storage. However, no specific signed agreements, investment amounts, or already approved projects for Mykolaiv have yet been reported as a result of the trip to Bulgaria.

So the main question for the city’s residents remains: will the speeches of the “Doctor of Economic Sciences” turn into real money for Mykolaiv, new jobs and the reconstruction of infrastructure — or will it again be a presentation about prospects without tangible results?