The Cabinet is first laid in the budget money for innovation

Кабмин впервые заложил в госбюджет деньги на инновации

The Cabinet wants to spend on innovation

Innovation will spend 50 million hryvnia.

The Cabinet laid in the draft budget for next year 50 million USD for the financing of innovation. This was stated by Vice Prime Minister – Minister of economic development and trade Stepan Kubiv reported on the official website of the Ministry.

“We strive to GDP growth of 5-7%, so Ukraine can and must integrate into the global chain of added value, to become a global industrial and logistics hub, focusing on high technologies and innovations”, – said the first Vice Prime Minister.

He added that Ukraine is now in the process of transformation of production to production with high added value and is one of the world’s leaders in high-tech engineering.

“Recently, the government established the Council for innovative technologies in response to the request of the business. This Council will make recommendations to the government on the Ukrainian high-tech clusters, and ecosystem processing industries with high added value,” – said Kubiv.

According to him, the government first lays in the draft budget for the year 2018, the funding of the innovation Fund – 50 million hryvnia.

Stepan Kubiv noted that the Cabinet of Ministers will continue supporting the strategic development of innovation to maintain the competitiveness of Ukraine on 7 areas, which include energy and industry, aviation, shipbuilding, rocket science, nanotechnique and robotics, medicine and pharmaceuticals, environmental protection.

“We strive to create in Ukraine a closed ecosystem to support investment and innovation that will allow to actively develop innovation and technology in Ukraine for economic growth and welfare of citizens,” – said Kubiv.

We will remind, Saudi Arabia on the construction of innovation city will spend $500 billion.