The new economic reality of the South

The business of the Black Sea and Azov regions faces new challenges due to the temporary occupation of the Autonomous Republic of Crimea. That is why the goal of the co-organizer of the Forum, Iryna Novikova, Deputy Minister for Economic Development, Trade and Agriculture of Ukraine is the expansion of state and foreign support programs and doing business in the South of Ukraine, according to European standards.

During the preparation of the National Economic Strategy for the period up to 2030, the Ukrainian Government has identified the main vectors for the development of small and medium-sized businesses. These include expanding access to finance, supporting entrepreneurs, simplifying the regulatory environment and promoting access to new markets. All this is extremely necessary for the economic development of the southern regions of Ukraine. In addition, despite the pandemic, in June 2020, the Ministry of Economy managed to sign two strategically important agreements. There are concessions of the seaport «Olvia» and the Kherson sea trade port. For the enterprises themselves, this is not only the stability of further development and new jobs for residents but also the overall economic well-being of the city and the region.

Iryna Novikova is convinced that investments are vital for the economic recovery of Ukraine, including the temporary border with the Autonomous Republic of Crimea.

«We see the recovery of these territories (affected by Russian aggression, ed.) through the prism of investment and the use of tools such as the mechanism of public-private partnership and the mechanism of industrial parks and the stimulation of private investment», —

Iryna Novikova, Deputy Minister for Economic Development, Trade and Agriculture of Ukraine

Therefore, the priority task of the Deputy Minister at the Southern Development Strategy Forum is to consolidate state and foreign support for the development of legal business and create a new economic reality in Southern Ukraine.