Government backs creation of ministry for strategic industries

A respective decision was made at a government meeting on Wednesday, July 22, according to an Ukrinform correspondent.

"The act [on the establishment of the ministry] was drafted on the basis of the law on 'National security of Ukraine,' presidential decree No. 59 of February 27 this year 'On the Ukrainian National Security and Defense Council's decision of February 18, 2020 'Main figures of the state defense order for 2020, 2021, 2022' and Verkhovna Rada resolution No. 802 of July 16, 2020 'On the appointment of Oleh Urusky as Deputy Prime Minister - Minister for Strategic Industries of Ukraine.' The act is aimed at establishing a central executive body responsible for the formation and implementation of state industrial policy in the development of strategic industries," Deputy Prime Minister and Minister for Strategic Industries of Ukraine Oleh Urusky said.

According to him, the adoption of the respective resolution will help ensure the sustainable development of strategic industries, job creation, an increase in revenues to the state budget, regional development, and will have a positive impact on the market environment of Ukraine.

On July 16, the Verkhovna Rada appointed Oleh Urusky as Ukraine's deputy prime minister and minister for strategic industries.

Prime Minister Denys Shmyhal said at a government meeting on July 22 that the government intended to begin the creation of a new ministry that will focus primarily on industrial development, as well as on defense and high-tech industries.

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