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Ukraine's MinEcon drafts a national modernization strategy to 2020

February 24, 2010

Ukraine’s Ministry of Economy has developed a strategy for national modernization strategy through to 2020. Its purpose is to address the need to coordinate efforts to increase the country’s competitive advantages. These include creating positive conditions to stabilize economic growth, form a positive business environment and a properly competitive market. There is also a need to set conditions for innovative development, which will increase productivity in the country’s manufacturing sector.

The main strategic goal in the document is to get the country on track for sustainable economic growth with improvements in well-being and quality of life for all Ukrainians. The launching pad for reaching this goal will be achieving macroeconomic stability and establishing a positive framework for entrepreneurship to develop; eliminating bottlenecks caused by infrastructure; radically modernizing the economy to close the gap in competitiveness between domestic businesses and their main industrial rivals; increasing quality of the workforce by aiming for the greatest balance between demand and supply on the labor market; establishing a effective, workable innovation system to increase the innovative component of growth; and reaching a high level of technology in the real sector of the economy.

Tags: economy