ULIE and AEOU prepare a congress to support the economy in times of war

The Ukrainian League of Industrialists and Entrepreneurs (ULIE) and the Association of Employers’ Organizations of Ukraine (AEOU) are preparing an extraordinary emergency congress dedicated to measures to support the economy’s sustainability and increase its self-sufficiency under martial law. This is stated in the ULIE press release.

«The third year of Russia’s full-scale war against Ukraine has made it quite obvious that it is a struggle for resource depletion. The Ukrainian economy needs immediate additional measures aimed at increasing GDP, production, and the solvency of the domestic market,» the association said.

Currently, 47% of state budget revenues are generated by external financial assistance. Every hryvnia of the state budget revenues is used for the defense needs of Ukraine.

«Amid the risks of a decrease in the volume or delay in the receipt of assistance from partners, as well as the need to increase arms purchases, launch our own defense industry plants, etc., joint efforts of the state and business to develop economic capacities are important. This is a matter of national security,» emphasizes the ULIE.

The ULIE and the AEOU supported the initiative of the President of Ukraine to launch the Made in Ukraine economic platform and other decrees of the President to intensify the dialogue and partnership between the Government and entrepreneurs. Together with other business associations, the ULIE signed a joint statement with the Cabinet of Ministers on cooperation.

The Congress will consider specific measures to increase production in Ukraine, primarily in high value-added goods, processing industry, and innovative industrial areas.

In addition, special attention will be paid to the consolidation of civil society, the priority of the rule of law, equality of all before the law, fighting corruption, and a dialogue between the government and non-governmental organizations based on respect, trust, and transparency.

Representatives of the Parliament, the Office of the President, the Cabinet of Ministers, the National Security and Defense Council, business and non-governmental organizations of Ukraine, trade unions, think tanks, and volunteer communities will be invited to participate in the congress.

As GMK Center reported earlier, the implementation of the «Made in Ukraine» policy will provide at least 1% additional GDP growth in 2024, as noted earlier by First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko. Up to 40% of the money spent on the purchase of Ukrainian goods is returned through taxes paid back to the security and defense forces.