Business news from Ukraine

UKRAINE APPROVES STRATEGY FOR REGIONAL DEVELOPMENT

6 August , 2020  

The Cabinet of Ministers of Ukraine at a meeting on August 5 approved the State Strategy for Regional Development for 2021-2027.
“The document was prepared by the Ministry of Regional Development. This important document is filled with new content, European approaches to the development of regions. I see this as one of the vectors of our movement and direction to the European Union,” Prime Minister of Ukraine Denys Shmyhal said during the meeting.
He added that the document took into account the issue of a new administrative-territorial structure, while stressing that there is no talk of any liquidation of some of the social infrastructure facilities.
According to the presentation of the strategy made by Minister of Communities and Territories Development Oleksiy Chernyshov, new functional types of territories were identified, as well as regions that are in the focus of regional policy: the mountainous territories of the Carpathians, the coastal zones of the Black and Azov Seas, nature reserves, border areas, including those on the contact lines, rural areas in unfavorable conditions, agglomerations, centers of economic growth, mono-functional cities, as well as temporarily occupied territories. For each functional region, the ministry has identified important development aspects.
The Ministry of Regional Development also began developing plans of measures to implement the strategy for the next three years, as well as aligning regional strategies. In addition, a draft law has been prepared on reforming the State Fund for Regional Development to finance the implementation of the state strategy.
“To achieve the set goals, the targeted use of funds from the state budget is critically important. Therefore, it is necessary to improve the system of financing regional development, including at the expense of the State Fund for Regional Development,” Chernyshov said

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