Prime Minister commissions to elaborate program for industrial development of Eastern Ukraine

At the Government meeting on Wednesday, August 19, Prime Minister of Ukraine Arseniy Yatsenyuk instructed Minister of Economic Development and Trade Aivaras Abromavicius to develop a special programme for the development of industry in Eastern Ukraine.

The Head of Government stressed the domestic market of orders for industrial enterprises located in the Eastern Ukraine should be formed, at the account of orders of the state-owned companies and the Ukrainian private sector, in particular, to upgrade and modernize the infrastructure in the whole country.

"For instance, the Ministry of Infrastructure informs about the need to renew both the fleet of cars and railway bed. That is, billions of hryvnyas should be spent to purchase new cars, to build new railway lines, and all the kit is produced in Ukraine. Therefrom, all this ensures additional gross domestic product growth, new jobs and new taxes," said the Head of Government.

The Premier noted that Ukraine needs new foreign markets and should develop its home market simultaneously. "When you lose something, if you work, make sure you will find something. If we lost the market, which had been closed for us long ago, then we should search for new markets, but it is crucial to develop the domestic market", urged Arseniy Yatsenyuk.

The Prime Minister offered to the Economy Minister in synergy with the Infrastructure Minister, the Finance Ministry, heads of RSA in the Eastern Ukraine, and in particular, with leaders of industrial enterprises located in the Eastern Ukraine to shape a new industrial policy which is to comprise two parts.  

"At first, new external markets we can enter", said the Head of Government. The second block of issues is "what we can offer from Ukrzaliznytsia’s enterprises, the Ukrainian energy companies and Ukroboronprom in this year and the next one. We allocate billions for Ukroboronprom. Consequently, it should trigger industrial growth," emphasized the Prime Minister.

Arseniy Yatsenyuk highlighted it is an economic and geopolitical issue: "We have lost markets through the Russian military aggression. There should be domestic market and the markets of other countries, with the emphasis on the internal market".