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First Made in Ukraine office to support micro and small businesses opened in Sumy
01.04.2024 | 14:59 | Section for Public and Mass Media Relations.

Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine, opened the first Made in Ukraine office in Sumy to support micro and small businesses. These offices will provide entrepreneurs with guidance on participating in government programs under the Made in Ukraine policy.

"We understand the difficult conditions Ukrainian entrepreneurs are working in. Especially in the frontline regions, where doing business is disproportionately more difficult than in the rear cities. That is why we have chosen Sumy as the first city to open the first regional office of Made in Ukraine. It will operate within the Sumy City Employment Centre, offering in-person consultations and assistance with document preparation for grants and other programs. Our objective is to establish similar centers in all feasible Ukrainian cities by the year's end," said Yuliia Svyrydenko.

According to her, revitalizing Ukraine's devastated infrastructure and economy hinges on fostering Ukrainian business. The primary goal of the Government's economic sector is to encourage production, attract investment in the real sector, and enhance non-resource exports.

"Our strategic goal is to change the structure of the economy and increase the production of high value-added goods. This is the goal of the Made in Ukraine policy. As part of it, we have budgeted over UAH 45 billion for business support programmes. This is a record amount in recent years. One billion hryvnias have been allocated for Sumy region this year, but this amount is not a limit, because the more active local businesses are, the more assistance they will be able to receive from the state," said Yuliia Svyrydenko.

The Government is currently implementing several business support programs this year, notably the 5-7-9 soft loan program, which has received a budget of UAH 18 billion to cover interest rate compensation.

Government grant programs, particularly those for processing, are also significant for small businesses, offering up to UAH 8 million for production development, including equipment procurement. Grant programs for business startups and for veterans and their spouses are also popular among entrepreneurs.

Furthermore, the Government is working on expanding localization in both civilian and military public procurement, excluding GPA countries.

This year, UAH 1 billion has also been allocated to compensate for the purchase of Ukrainian-made agricultural machinery. In the second half of the year, this mechanism will be extended to other types of machinery.

The Government continues to fund the School Bus programme. The funds currently allocated in the budget will be enough to buy 500 new buses made in Ukraine. Another program that fosters production development, primarily in building materials, and assists in construction restoration is the Oselia program. It enables individuals to acquire housing at 7% per annum, and for privileged categories, at 3%.

Additionally, the Government is implementing programs to support projects with significant investments and a program to develop industrial parks.

Ministry of Economy of Ukraine 01008, Ukraine, Kiyv city,
Grushevsky str., 12/2