get post id
$post_id=get_the_ID();
get selected region
$terms = wp_get_post_terms( $post_id, $taxonomy );
$selected_id='';
if(isset($terms[0]->term_id)){
$selected_id=$terms[0]->term_id;
}
build hierarchical dropdown
wp_dropdown_categories( array(
'show_option_all' => 'Choose a region',
'show_option_none' => '',
'orderby' => 'ID',
'order' => 'ASC',
'show_count' => 0,
'hide_empty' => 0,
'child_of' => 0,
'exclude' => '',
'echo' => 1,
'selected' => $selected_id,
'hierarchical' => 1,
'name' => 'tax_input['.$taxonomy.'][]', // important
'id' => $id,
'class' => 'form-no-clear',
'depth' => 0,
'tab_index' => 0,
'taxonomy' => $taxonomy,
'hide_if_empty' => true
) );