A new loan scheme for businesses is set to be launched on 1 July – the government has announced a package of measures
This was announced by Prime Minister Yulia Svyrydenko following a meeting of the Council on Entrepreneurship Support.
According to Svyrydenko, following the previous meeting, the government had reviewed proposals from the business community and had already implemented a number of practical measures.
In particular, the following has already been achieved:
- regulatory procedures for enterprises in the defence-industrial complex have been simplified;
- localisation requirements have been extended to defence procurement;
- VAT has been abolished for ground-based robotic systems;
- affordable lending for distributed generation projects has been introduced;
- the process of connecting new energy capacity has been simplified.
These measures are intended to simultaneously support the development of Ukrainian manufacturing, the defence industry and the energy sector.
The government has paid particular attention to supporting companies that have suffered losses as a result of Russian attacks.
According to the Prime Minister, a new state lending programme will come into effect from 1 July. It will complement existing support mechanisms under the ‘Made in Ukraine’ policy and help businesses resume production more quickly following shelling.
The government plans to present the detailed terms of the programme separately.
Ukraine is preparing a 15-year economic strategy – the meeting also discussed the government’s ‘Economy of the Future’ strategy, which the Cabinet of Ministers is developing in collaboration with the World Bank and international experts.
According to Svyrydenko, the strategy, which is intended to set out the main directions for the country’s development, envisages the creation of an economy based on a strong private sector, modern industry, the attraction of investment and the implementation of European business practices.
The Prime Minister emphasised that the government will continue to work on reducing excessive regulation and bringing the economy out of the shadows.
“Following the latest meeting of the Council for the Support of Entrepreneurship, we agreed on specific measures in response to requests from the business community. Key priorities include further bringing the economy out of the shadow economy, simplifying regulatory procedures and improving the business environment,” said Yulia Svyrydenko.
According to her, it is precisely this ongoing dialogue between the state and entrepreneurs that helps the Ukrainian economy remain resilient during the war and lays the foundations for future economic growth.
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