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  • Government earmarks at least UAH 1.45 billion for Khmelnytsky region businesses under the Made in Ukraine policy: Yuliia Svyrydenko
    Ministry of Economy of Ukraine, posted 03 May 2024 18:00

    The Government has earmarked at least UAH 1.45 billion for Khmelnytsky region businesses in the state budget for 2024 as part of the Made in Ukraine policy. These funds will be used for three key policy areas: production development, stimulating non-resource exports, and attracting investment in the real sector. It is about financing business support programs.

    This was stated by First Deputy Prime Minister of Ukraine and Minister of Economy Yuliia Svyrydenko during the presentation of the Made in Ukraine policy in Khmelnytsky chaired by President of Ukraine Volodymyr Zelenskyy and a meeting with local business.

    "These are similar to the programs that have proven effective in previous years - Affordable Loans at 5-7-9, recycling grants, the School Bus program, preferential mortgages eOselia, eRobota grants. There are also new or renewed programs, including compensation for farmers for the purchase of Ukrainian agricultural machinery, stimulating the development of industrial parks, supporting projects with significant investments (over EUR 12 million), etc." explained Yuliia Svyrydenko.

    According to the First Deputy Prime Minister, the UAH 1.45 billion allocated for Khmelnytsky region is not a limit, as the more actively businesses in the region apply for support programs, the more funds they will have the opportunity to receive.

    In total, more than UAH 45 billion is allocated in the 2024 budget for business support programs included in the Made in Ukraine policy.

    According to the Minister, the strategic goal of the Made in Ukraine policy is to change the structure of the Ukrainian economy, scale up the production of value-added goods and double the share of the manufacturing industry in GDP to 20%.

    "Raw materials are often synonymous with poverty. That is why we are striving to develop production to become more economically self-sufficient, to help create new jobs and fill the budget with taxes.

    This is critical for our defense capability, as only the funds paid by businesses in the form of taxes and fees can finance our security and defense sector," stressed Yuliia Svyrydenko.

    Earlier, the Made in Ukraine policy was presented under the chairmanship of President Volodymyr Zelenskyy in Kharkiv, Sumy, Chernihiv, Bukovyna, and Dnipropetrovsk regions.

    Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, noted that regular meetings in the regions with businesses allowed them to solve both specific business problems and challenges for entire industries.

    "Let's take Kharkiv region as an example: the region is currently suffering from russian shelling. To support the business, almost immediately after the meeting, together with our colleagues from the Government, we allowed local authorities to exempt businesses from local taxes, and we compensate them. Subsequently, we provided a 30% discount on railroad transportation for farmers in the region and doubled microgrants. We have similar examples in different regions," added Yuliia Svyrydenko.

    More about the Made in Ukraine policy can be found in the information material "Made in Ukraine. Catalog of opportunities from the state". Last week, the Ministry of Economy, together with its partners, launched another element of the Made in Ukraine policy - grants for the development of women's entrepreneurship Create. This is an opportunity to receive up to USD 15,000 for a processing business owned by women. The total fund of the program is USD 1 million.