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First Deputy Minister of the Economy of Ukraine

Denys Kudin

Metallurgy, chemicals, and mechanical engineering have suffered the most

Using an indicative planning tool and model calculations, we created an industrial investment menu of Ukraine, which collected over 614 promising investment projects in such areas as defence, metallurgy and metalworking, energy, mechanical engineering, logistics, furniture and woodworking, and others.

In general, investments in more than 614 projects, totalling 425 Bn USD will create almost 1 million jobs, and this figure can double if counted with ‘spillover’ effects (cross-sectoral development).

Involvement during Russia’s war against Ukraine

Denys Kudin pays considerable attention to the matter of Ukraine’s economic recovery after the war and works on a programme to help Ukrainians who decided to stay in the country. He is also engaged with governments and leading international companies that are ready to help Ukraine and take part in the post-war recovery of the country.  

What kind of support has the state provided to industrial enterprises since the beginning of the full-scale invasion?

The war became an extraordinary challenge for the economy. To address it, the Government introduced a wartime economic policy. The priority of this policy is ensuring fast renewal of business activities, including those of the industrial enterprises. The followings policy programmes were launched: SME grants Programme ‘e-Robota’; Public Procurement Localisation programme, etc.

We believe our Enterprise Relocation Program is a success. As of 1 September 2022: 1,823 applications for relocation have been processed, 727 enterprises have moved their facilities from areas of active hostilities, and 529 enterprises have resumed their activities in the safe territories. Among the relocated ones, which have already relaunched their activities at their new locations, 30% are in manufacturing.

Which measures and initiatives should be in focus for Ukraine to become one of the leading industrial hubs in the European region?

Reconstruction of Ukraine as a whole, including industry, will take place within the framework of the Ukraine’s Recovery Plan. There were identified sectoral directions (the defence industry sector, metallurgy and metalworking, and the agro-industrial complex sector) capable of ensuring the achievement of the set goal — making Ukraine become one of the leading industrial hubs in the European region.

First, they are traditional for Ukraine, taking a significant share in its economy and are material drivers of Ukraine’s GDP and employment. Second, for ensuring development of the agricultural sector, metallurgy and metalworking in Ukraine, we need a sizeable volume of raw materials, having which is a significant competitive advantage in itself. In case of the defense industry, there are established machine-building traditions, relevant scientific and production personnel, as well as the unique experience of their field application.