Cabinet approves strategy for economic development of Donetsk and Lugansk regions until 2030

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The Cabinet of Ministers of Ukraine approved the strategy for the economic development of the Donetsk and Luhansk regions for the period up to 2030.

The respective resumption was approved at Wednesday’s meeting, reports the Ukrainian news agency.

The draft decree provides for the implementation of a number of tasks and activities in the key areas identified in the concept:

– improvement of institutional and financial instruments and regulatory policy;

– development of the real sector of the economy, industrialization and innovation;

– the development of critical infrastructures and logistics;

– the formation of the regional labor market;

– establish communications.

Thus, as for the first category, it is planned to create three types of priority development territory models, to introduce new instruments for the protection of investments, to create an insurance system against military and political risks, to consolidate the invariability of the conditions for taxing the economic activity of investors and eliminating excessive regulation of economic activity.

The second category includes measures to support the production of high value-added products and the formation of technological chains of processing industries, stimulation of the development of new high-tech industries, aid in the attraction of investments due to a decrease in the share of the state and communal property.

As for the category of critical infrastructure and logistics development, there are plans to create transport and logistics clusters and basic logistics centers and to modernize the railway.

It is worth noting that an equally important category in the context of Russia’s hybrid war against Ukraine is the establishment of communications.

In this area, it is planned to carry out activities to popularize the attractive investment image of the Donetsk and Lugansk regions, to attract the potential of economic diplomacy to promote the goods and services of the Donetsk and Lugansk regions in international markets, as well as expanding mechanisms to attract socially responsible businesses.

As the Ukrainian news agency previously reported, the Cabinet of Ministers proposes to authorize the Verkhovna Rada to allow the holding of elections in the unoccupied territories only in the event of non-interference in the electoral process, including the from the Russian Federation.

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