OREANDA-NEWS. September 11, 2013. The Cabinet of Ministers has approved the Concept of national-wide target economic program of the industry development until 2020. The corresponding decree № 603-r was taken at a meeting on 17 July 2013.

Ensuring the formation of qualitatively new policy is an important factor in restoring the strategic role of the domestic industry in promoting economic growth and competitiveness of the economy of Ukraine.

The purpose of the Program is a comprehensive solution of problems of functioning industrial sector of Ukraine by developing organizational and economic mechanism and fundraising for the realization of structural and technological modernization of the domestic industry in the direction of increasing the share of high-tech activities in output and exports, meeting the needs of the domestic market in products of own production, increase employment and thereby improve welfare.

The Program will promote existing and create new jobs, improve real living standards of citizens and their social protection (increase in real wages of workers in industry is estimated at 10-15 per cent annually), reduce dependence on imported manufactured goods thanks to the development their manufacturing by domestic enterprises that will help reduce the annual growth rate to 9-9.5 per cent, providing an annual average growth rate of industrial exports not less than 7.10 percent, reducing energy consumption by upgrading energy-intensive process equipment of industry.