Ukraine seeks to stimulate economy with more investment
Ukrainian Prime Minister Mykola Azarov pledged Wednesday to crank up efforts to attract more investment in all industries in a bid to stimulate its stagnating economy, according to Xinhua.
"We need a real escalation of investment. The country should move to a model of intensive economic development to achieve rapid growth," Azarov told a government meeting.
The government has developed a new investment policy that encourages investment in heavy industry, science and agriculture, Azarov said, adding that more investment could help the country reach its goal of expanding its GDP by 6 percent this year.
Currently, Ukraine is implementing about 20 large-scale projects in agriculture, with total investment exceeding 1.1 billion U.S. dollars, he said.
Ukraine`s GDP grew 2.5 percent year on year in the first half of 2012, barely half the rate of last year`s annual growth of 5.2 percent.