Ukraine’s Government to Finalise Donbas Economic Concept in Autumn

The Ministry of Reintegration of the Temporarily Occupied Territories of Ukraine plans to complete the development of the economic growth concept of Donbas in the autumn. The document’s aim is the climate transformation  investment  and implementation of a new economic model at the regional level.

Deputy Prime Minister, Minister of Reintegration Oleksiy Reznikov announced this at a meeting with Ukrainian business associations representatives.

As the press service reports, the concept of redevelopment of eastern oblasts is currently in progress. It focuses mainly on the territories of Donetsk and Luhansk oblasts controlled by the government of Ukraine. The principal goal of the program is to develop main areas that will become a new economic strategy basis aimed at the transformation of the investment climate and implementation of a new economic model at the regional level.

“We need to focus on creating a new economy. The renewed Donbas can become the center of new approaches in industrial relations. There is every reason to believe that it is possible to attract substantial investments in Eastern Ukraine. After all, investors work in hotspots around the world,” Reznikov said.

He also stressed that Western investments, together with local ones, can play a crucial role in the transformation of Donbas into an engine of economic development.

According to the ministry press service, business representatives will work out and provide government officials with their proposals, which they consider appropriate in the formulation of the strategy.

Bohdan Marusyak