Trust and respect for Ukrainian producers should become our common ideology for the coming decades. This was emphasised by Prime Minister Denys Shmyhal during the presentation of the Ukrainian Economic Platform “Made in Ukraine”, launched by President Volodymyr Zelenskyy.

According to Denys Shmyhal, this initiative will unite the efforts of the Government, business, foreign investors, experts and public associations for the sustainable economic development of Ukraine.

“The Ukrainian Economic Platform ‘Made in Ukraine’ is a fundamentally new mechanism of communication with entrepreneurs. The dialogue helps to develop the best solutions that will be implemented in the near future. The practice of consuming Ukrainian products should become part of the everyday culture of each of us,” the Prime Minister stressed.

The Head of Government noted that it was not about restrictions on foreign goods. Rather, it is about incentives that will help Ukrainian entrepreneurs find their niches in the domestic market and enter foreign markets.

In particular, the Government plans to use a number of instruments to help domestic producers in the near future. The first is public procurement.

“We will expand the list of categories of goods to be purchased from local producers. In particular, this means expanding localisation to defence procurement,” said Denys Shmyhal.

According to him, an additional incentive will be the intensification of the school bus programme – the purchase of 1,500 buses over three years from Ukrainian manufacturers.

The second instrument announced by the Prime Minister is compensation. The state budget for 2024 includes UAH 1 billion to compensate for the purchase of domestically produced agricultural machinery. According to the Head of Government, this could create 9,000 new jobs in the long term and generate up to UAH 1.5 billion in taxes for the budget.

“We see that this programme is in demand – we have already received 4,000 applications. So we are planning to extend the same mechanism to all equipment produced in Ukraine. This includes special and construction equipment, municipal equipment, etc. This should also become an incentive that will breathe new life into the Ukrainian automotive industry,” said Denys Shmyhal.

The third tool is the adaptation of existing government support programmes to the goals of the Made in Ukraine platform. For example, according to the Prime Minister, under the eVidnovlennia programme almost 44,000 Ukrainian families will need construction materials and it is important that they buy Ukrainian products. To this end, the relevant compensation procedure will be adjusted.

“The 5-7-9 lending programme. We will focus on the investment component, on financing the purchase of fixed assets by Ukrainian producers. We will offer a preferential loan rate of 5% to those who will buy Ukrainian equipment,” the Prime Minister said.

Other instruments include grants to Ukrainian producers under the eRobota programme and stimulating consumer demand.

The Prime Minister noted that the Government had already adopted a resolution on the promotion of Ukrainian goods. The “Made in Ukraine” trademark has been approved, which will distinguish goods produced by national manufacturers from all others.

“The total projected effect of the growth in consumer demand is +0.14% of GDP, more than 22,000 new jobs and more than UAH 4 billion in additional budget revenues,” said Denys Shmyhal.

Also during the presentation of the Ukrainian Economic Platform “Made in Ukraine”, a declaration was signed confirming the existence of mutual understanding, common approaches and shared responsibility for the future of Ukraine.