First Deputy Prime Minister of Ukraine, Minister of Economic Development and Trade Stepan Kubiv says Ukraine demonstrates strong economic growth, but to significantly accelerate its pace, the government should ensure the opening and liberalization of markets for the entry of private capital in a number of key sectors.
“For economic growth to be more dynamic, the opening and liberalization of markets should be provided for the entry of private capital in the country’s energy, agro-industry, infrastructure, and financial sectors. Moreover, conditions should be provided for the development of private businesses, that is, deregulation, protection of property rights, rule of law, fair judiciary, and effective anti-corruption measures,” the ministry’s press service quoted Kubiv as saying as he spoke at the Ukraine Reform Conference in Toronto (Canada).
According to the official, Ukraine is simultaneously implementing several strategic tasks, which requires great efforts to find the most effective tools to accelerate reforms and economy growth.
“Digitalization allows solving simultaneously the issues of efficiency and transparency in public administration, overcoming corruption, inclusiveness in the economy, education, and social sphere. Digitalization is a powerful incentive for the development of cities, the creation of “smart” infrastructure, health care, and public services. Digital services also mean additional 7-8% of annual growth in Ukraine’s GDP,” the minister added. (UNIAN/Business World Magazine)