Ukrainian President: Ukraine's Industrial and Scientific Potential is the Country's Key Investment Incentive

By Worldwide News Ukraine, PRNE
Sunday, April 10, 2011

KYIV, Ukraine, April 11, 2011 - The President of Ukraine Viktor Yanukovych considers industrial and
scientific potential of Ukraine the main pillar in its prospective
modernization plans. The President stressed in his annual address to the
Ukrainian parliament that the authorities would take all the effort to ensure
favorable foreign investment climate and create appropriate legal, financial,
technological and regulatory conditions to foster innovation and industries'

"The year of 2011 should be the period of building a new legal framework
of protection of the rights and interests of investors, introducing modern
mechanisms of industrial policy and providing state support to high-tech
sectors of economy," said the President of Ukraine.

Ukraine inherited its scientific and industrial potential from the Soviet
era. Though many industrial capacities of the country require drastic
modernization, there are few sectors that put Ukraine in the lead.

First of all, Ukraine with its space industry potential occupies one of
the world's leading positions among countries that produce rocket launchers
and is one of the five countries, which have a complete rocket production
cycle. Ukrainian companies that work in the space industry use most of the
known space technologies and participate in 50 international space projects.

Secondly, Ukraine holds the 4th position in the world in the number of IT
specialists, following the USA, India and Russia. According to "Central and
Eastern Europe IT Outsourcing Review 2010," 14,000 IT specialists graduate
from the Ukrainian universities every year. Ukraine's exports of computer
software will reach one billion dollars in 2011, according to country's Vice
Prime Minister Sergiy Tigipko.

Heavy industry, especially machine building, metallurgy and coal
production, makes for an important part in general industrial structure of
Ukraine. Fuel and energy complex, which includes energy, coal, nuclear, gas
and oil industries is another large sector offering a significant pool of
investment opportunities.

In 2010, the industrial production in Ukraine grew by 11% compared to
2009. The machine building industry grew 38.9% compared to 2009. The most
important export industry of the country - metallurgy - reached a 12%
production increase in 2010 according to the State Statistics Committee of
Ukraine. The steel export of Ukraine totaled $2.8 billion, the export of
agricultural products - $9.5 billion, and chemical products export reached
$3.5 billion.

For more information, contact Maryna Khorunzha +380-443324784 news at, Project Manager at Worldwide News Ukraine

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