Business news from Ukraine


25 April , 2016  

KYIV. April 25 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko has said that he would provide support for Ukrainian aircraft manufacturers to enter new markets.

The press service of the head of state reported that Poroshenko visited the Ivchenko Progress Machine-Building Design Bureau of Zaporizhia during his working trip to the region and took part in the test launch of a new AI-450 engine. Poroshenko examined the enterprise and watched samples of test launches of various engines.

Poroshenko said that Ukraine is deservedly considered one of few countries in the world capable of producing modern aircrafts.

“The enterprise doesn’t stand still. It implements modern technologies and demonstrates positive economic and financial results,” he said.

He pointed out successful work of Ukroboronprom State Concern on the substitution of components previously supplied from Russia.

“We have elaborated an import substitution system. Our engineers have fulfilled this task,” he said.

According to the president, the volume of production at Ukroboronprom has been tripled. This means that thousands of jobs have been saved and new jobs have been created. Engineers have also remained at the Progress Design Bureau.

“Ukrainian aircraft manufacturing has a great future,” Poroshenko said, adding that Ukrainian products had recently entered the market of Saudi Arabia and India.