Wednesday,
23 August 2017
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President emphasizes importance of further efficient development of real economy

The President emphasizes the importance of efficient development of real economy. It was stated by him at the meeting of the Council of Regions, according to the Press office of President Viktor Yanukovych.

The Head of State noted that the development of real economy and domestic market as a basis for implementing the new model of economic growth provided for active policy of import substitution and broad introduction of state-private partnership.

Essential part of import substitution strategy is energy efficiency, increase of proportion of domestic energy resources, including alternative and renewable energy sources. "These guidelines should be among the determinants of sectoral and regional strategies as well as national projects,” Viktor Yanukovych said.

The President added that the development of real economy required new instruments of funds attraction and stimulation of economy crediting. At the same time he added that an efficient mechanism of attracting citizens’ savings to the investment in real economy hadn’t been introduced yet. That sphere required close cooperation of the Government, National Bank and newly established Ministry of Income and Charges. “Many joint initiatives, like transfer pricing, are really progressive and require common implementation,” the Head of State noted.

The President also stressed that he required the Government to focus efforts on combating unfair competition.

Viktor Yanukovych drew attention to the necessity of “reloading” the approaches to national projects in real economy. “We must admit that implementation of this productive idea turned out inefficient and became a formal campaign to attract foreign investors. National projects must become the “spots of growth” for our economy, the basis of which are the interests of national economy, national business and territories,” the President said.

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