The government plans to increase the participation of domestic products up to 40% in 7 years.
“Creation of 64 thousand jobs and GDP growth by 4.2% in the medium term is a significant effect expected after the entry into force of the localization law. But even more important is the reboot of government industrial policy. The support of the law in the Rada by the constitutional majority and the quick signing of the law by the president demonstrates that our industry still has a chance for adequate support from the state,” said Dmytro Kysylevskyi, co-author of the law.
On the agenda is developing a regulatory framework for the implementation of innovations. This will presumably take several months.
The law does not apply to countries that have adopted the World Trade Organization Agreement on government procurement. According to the law's co-author, the law will apply to 80% of public procurement.
