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You're reading: EDB Head: Common Economic Space, Customs Union could invest in Ukraine’s high-tech industry
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“The share of industry in the formation of Ukraine’s GDP is 20%, with the manufacturing sector accounting for 14% and the mining one for about 7%. Metallurgy and engineering are the core industries in the country. If you look at investment statistics, it turns out that a large part of the total investment goes to transport, trade, construction, food processing, and real estate. This means the engine of the economy is not getting enough investment. If this trend continues, there are prerequisites for the degradation of industry. What conditions are to be created so that such giants as Azovstal, Zaporizhstal, Motor Sich, Antonov, Azovmash, Kryvorizky ore mining and dressing mill do not face any shortages of investment? Life shows that the post-Soviet space, mainly the Common Economic Space countries, is the main market for these industries, one should think about the maintenance of these markets and ensure a flow of investment in those sectors, which, as a rule, comes from the countries that consume these products,” he said at a press conference at the Interfax-Ukraine News Agency on Monday.

According to him, the import of corresponding commodities from Ukraine to Russia, Kazakhstan and Belarus is now being replaced by those from other countries, especially from China.

“This concerns nuclear, energy engineering, engine building. Our research shows and our belief is that the only way to keep these industries working is to consolidate and create transnational holdings, which would occupy a significant share of the market and ensure competitiveness on it,” he said.

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