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  • Denys Shmyhal: National Economic Strategy is confidence in the future for business and citizens
    Communications Department of the Secretariat of the CMU, posted 14 August 2020 17:46

    On Friday, August 14, upon an initiative of Prime Minister of Ukraine Denys Shmyhal a meeting between the Government members,  representatives of the Office of the President of Ukraine, the leadership of the National Bank of Ukraine and Ukrainian businesses was held at the Club of the Cabinet of Ministers of Ukraine. The meeting was attended by CEOs and top managers of more than 50 companies.

    The attendees tackled development of the "National Economic Strategy 2030". National target programmes encapsulating the initiatives laid out in the document will be developed and implemented in 2021. The Prime Minister called on entrepreneurs to take part in shaping of the Strategy and submit their proposals and visions for the development of Ukraine for the next 10 years.

    The PM stressed that one of the strategic goals for the next ten years must be the formation of a civilized securities market.

    "We need to create a full-fledged and civilized securities market as it operates in the advanced Western countries’ economies. It is a tool enabling citizens to invest, in particular, in their own national companies and generate income. At the same time, it will contribute to the capitalization of national businesses, to make their operation and reporting more transparent," Denys Shmyhal said.

    The Head of Government underlined that the development of national production requires the development of the right approaches to support it. It is essential not to ban imports which promote robust healthy competition, but to create additional incentives for domestic producers.

    "We are interested in domestic producers and domestic investors. The draft law on "investment nannies" presented by the President envisages preferences for both foreign investors and Ukrainian entrepreneurs. It is also important for us to encourage domestic business to invest at home and we create all the necessary conditions for this,  Denys Shmyhal noted.

    In turn, Kyrylo Shevchenko, Governor of the National Bank of Ukraine (NBU) stated that NBU is committed to effective and constructive cooperation with public authorities.

    "As an independent and apolitical institution, we are ready to maintain and develop such a dialogue. Without the cooperation and synergy of the Government, Parliament, the Office of the President and the Central Bank, it is impossible to achieve the NBU's mandate enshrined in law: price and financial stability, which contributes to economic development. The Ukrainian economy has the potential for faster growth, but any reforms will not yield a result without macroeconomic stability: it is a necessary prerequisite for sustainable economic growth and increasing investment, " Kyrylo Shevchenko said.

    According to the Prime Minister, the National Economic Strategy 2030 is the only domestic economic vision that should become a guide for Ukraine’s foreign partners.

    "This is a confidence in the future for both business and citizens. After all, the basis of the well-being of Ukrainians is economic development, which is impossible without appropriate drivers. This ideology is the basis for the development of the strategy, " Denys Shmyhal underscored.

    For their part, business people supported the initiative of the Prime Minister. During the discussions, the PM Denys Shmyhal answered topical questions aired by the participants of the meeting.

    Denys Shmyhal: National Economic Strategy is confidence in the future for business and citizens