New Head of Ministry of Economics and Trade has set goals to enhance innovation in the economy through production localization

Friday, May 21, 2021
2 MIN
New Head of Ministry of Economics and Trade has set goals to enhance innovation in the economy through production localization

Participation of Ukrainian enterprises in the implementation of contracts by foreign manufacturers for the supply of high-tech products to Ukraine should become mandatory

to enhance innovation in the economy through production localizationParticipation of Ukrainian enterprises in the implementation of contracts by foreign manufacturers for the supply of high-tech products to Ukraine should become mandatory.

This was stated by the newly appointed Minister of economy Oleksiy Lyubchenko on Thursday, May 20, speaking at the Verkhovna Rada." It is time to intensify innovation processes in the economy through the localization of production," he said. This will ensure a technological breakthrough and ultimately the economic independence of Ukraine, the Minister said. The need to improve the system of international trade cooperation of Ukraine.

According to the new Minister, in order to achieve this goal, it is necessary to activate the work of the State Export credit Agency: "We must give a new impetus to the ECA's work".He pointed out the importance of prioritizing Ukraine's foreign economic activities and restoring the effective work of the trade and economic missions under foreign diplomatic missions.

Separately, the Minister emphasized the importance of obtaining up-to-date data on economic activity in the country. "The digitalization mechanism should become the foundation for changes in the mechanism of control over economic processes," he said. The main tasks of the Ministry are the development of competition, small and medium-sized businesses, technological modernization of the Ukrainian economy. "The final KPI (of my work) I see reducing the share of the state in the redistribution of gross domestic product," said Lyubchenko.

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