Prime Minister: We created a mechanism for the budget support of innovations, we will launch it by the end of a year
Information and Communication Department of the Secretariat of the CMU, posted 27 September 2018 17:34

The support for technological innovations and  introduction of incentives aimed  to increase the demand for domestic technology is a step toward strengthening the positive economic trends and changing the economy type based on raw materials to that based on added value. Prime Minister of Ukraine Volodymyr Groysman issued this statement during the meeting of the National Industry Development Committee.

The meeting participants noted that at present only 18% of  Ukrainian enterprises are innovative and can invest in the development of their product. At the same time, the vast majority of such enterprises are manufacturers of machinery and equipment, which are demanded in various industries. This, first of all, refers to the agribusiness, road construction, which are currently included in the list of economic growth points in Ukraine.

"Our objective is to rebuild the economy from that basing on raw materials to the economy of added value. And this is impossible without the support of innovations", said Volodymyr Groysman. "Today, only one-fifth of enterprises in Ukraine are cutting-edge. But we have established a real mechanism of fiscal support to create innovative products in various fields."

The Head of Government reminded that the budget resource had been secured for these purposes. And the current agenda is the setting up of a special commission that will deal with the provision of the aforesaid resource.

"By the end of year we will trigger operation of the mechanism of Gov’t support. I have commissioned the National Industry Development Committee to work on this issue. The projects will be selected and approved not by officials, but by entrepreneurs, thereby ensuring transparency and quality. Moreover, we will also minimize the corruption risks in the process of allocation of funds", highlighted Volodymyr Groysman. "And next year we will prolong this work."