National Industry Development Committee summed up its yearly activity and approved priority directions for next year

October 11, 2017 marks a year since the National Industry Development Committee began its activities. At its meeting, which was co-chaired by First Deputy Prime Minister/Minister of Economic Development and Trade of Ukraine Stepan Kubiv and Executive Director of the National Committee Anatolii Hirschfeld, the committee members summarized the results of the year.

The National Industry Development Committee was established by an order of Prime Minister of Ukraine Volodymyr Groysman. Among the essential tasks of the Committee was the formation of an Industry Development Strategy. The Committee set up four working groups: Railroad Equipment Manufacturing, Agricultural Machinery Manufacturing, Aircraft Engineering, Financial and Investment Support, Innovations, each of which contributed to improving the situation in the Ukrainian industry.

It should be noted that the NIDC has developed the Procedure for applying the funds provided for in the state budget for partial compensation of the cost of agricultural machinery and equipment of domestic production (CMU Decree No. 130 dated 01 March 2017), improved a mechanism for determining the level of localization of production of machinery and equipment, drafted several regulations of the Cabinet of Ministers aimed to stimulate the airline industry, as well as determined initial steps to promote innovation development in Ukraine.

At the meeting, the committee also identified priorities for its activities in the future. These include the stimulation of manufacturing of products with high added value, scaling up and stabilization of existing industrial productions. The committee members emphasized the necessity of launching state programs of use of wind and solar energy, as well as approval of the Program for aircraft engineering development.