Ukraine is working on a renovation plan as part of the Ukraine Facility

The government and national business should jointly prepare a plan for the renewal and development of Ukraine for the next four years. This was stated by the First Deputy Prime Minister – Minister of Economy Julia Svyrydenko during a meeting with representatives of the European Business Association, it is reported on the website of the department.

According to her, private capital will become the basis for the restoration and development of Ukraine.

“Therefore, together with domestic business, we must develop a Ukraine Plan through the Ukraine Facility, which will allow us to receive €50 billion in funding from the EU for economic development over the next four years. The plan must be prepared by the end of October, so we urge business representatives to join the working groups to develop this document,” the First Deputy Prime Minister noted.

Julia Svyrydenko also invited businesses to submit their proposals for identifying priority development sectors and programs to stimulate them, allowing the country to recover as quickly as possible.

As the First Deputy Prime Minister noted, among the priority sectors are defense, agriculture, energy, green steel industry. Now the government is focusing on the development of the processing industry, the manufacture of products with a high share of value added, and its promotion in the domestic and foreign markets.

At the meeting with business, issues of humanitarian demining, improving the reservation system for those liable for military service, deregulation, support for exporters and the entry of domestic businesses into international markets were also discussed.

The Ministry of Economy, together with Ukrainian business, associations and experts create more than 10 sectoral working groups to discuss and develop comprehensive development measures in key sectors of the economy. These developments will form the basis of the Ukraine Plan for the Ukraine Facility (UF) from the EU, which will attract €50 billion in assistance from the European Commission to the Ukrainian economy, which was announced during the Ukraine Recovery Conference in London. Financial support will be provided through grants and loans, investments and technical assistance.

As GMK Center reported earlier, Ukraine will join EU programs «Single market» and «Customs». The relevant agreements with the European Union were ratified by the Verkhovna Rada at the end of June. Ratification of agreements will provide business with additional incentives and opportunities, and will contribute to the growth of trade.