April 11, 2013

Ukraine plans to increase the output of industrial crops and grain, to 15 million tonnes and 80 million tonnes, respectively, in the next five years,  said Nikolai Azarov, Prime Minister of Ukraine.

In order to accomplish the target, the Ukrainian agro-industrial complex requires the systematic update of nearly 7.5 thousand combine harvesters, 35 thousand tractors of various types, and more than 2.5 thousand planting complexes. However, the current level of development of the domestic engineering industry does not meet such requirements.

According to Azaro, there is a clear need to increase the production assets, and use all necessary tools including government funding, investment promotion, and public-private partnerships. Tax incentives were already created.

There is also a need for cooperation between the authorities, enterprises and banks on certain projects concerning development of production, added Azarov.