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Ukraine's National Projects Will Attract 15 Billion USD Foreign Investments
3 November 2010
The implementation of the ten national projects defined by the President of Ukraine Viktor Yanukovych will attract nearly 15 billion USD and thus will increase the national GDP by 4.7% during the next five years. This forecast was announced today by Vladyslav Kaskiv, Head of a working group of the Ukrainian committee on economic reforms at the meeting of the "National Projects."

The meeting was chaired personally by Viktor Yanukovych, who stated in his address that the national projects are aimed at the solution of existing social problems and at the economic revival of whole regions. The Head of State particularly emphasized that one of the key purposes of these projects is to increase the inflow of foreign investments into Ukraine.

In addition, the President stressed the importance of the development of powerful national projects in such areas as agriculture, airspace industry and humanitarian policy.

"In the nearest future national projects will become the engine of Ukraine's economic development," said Viktor Yanukovych. "I would like to emphasize that each of the national projects has been designed with the view to the country's strategic perspective, and most importantly - they will all require wide recourse to modern technologies."

The President made it clear that the state will support the carrying out of the national projects through the necessary legal and regulatory reforms, which will simplify the process of licensing and the overall conduct of business in Ukraine. The lion's share in the financing of the national projects, according to the President, is expected to be covered by foreign investments.

"We set for ourselves the ambitious tasks of creating a qualitatively new innovation-investment economic development. And by our joint efforts we will bring them to fruition," added Viktor Yanukovych.

By November 8, 2010, the government of Ukraine has to approve the list of the national projects in four priority sectors - "New Energy", "New High-quality Infrastructure," "New Quality of Life," and "Olympic Hope 2022."

Addressing the meeting Vladyslav Kaskiv said that "the key principles of the realization of the national projects, as opposed to the past large-scale national endeavors, will be project management, personal responsibility, priority of private investment funds over state funds and partnership with world's leading companies."

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