The principle of buying Ukrainian goods should become a philosophy of Ukrainian society

Ukrainian society should support business by buying Ukrainian goods. This is the philosophy behind the Made in Ukraine economic platform. This was stated by Prime Minister Denys Shmyhal during a panel discussion at the forum "Life of the Regions in the Time of War".

"Almost a month and a half has passed since the launch of the all-Ukrainian economic platform "Made in Ukraine" initiated by President of Ukraine Volodymyr Zelenskyy. It is based on the philosophy of comprehensive support for domestic business," said Denys Shmyhal.

The Prime Minister said that an analysis of the consumption of goods in other countries revealed that about 70% of all products are purchased by the population from their own producers. Meanwhile, in Ukraine, this percentage is twice as low.

"The philosophy of the platform is to stimulate production and increase demand. From saturating the domestic market with our products to new export opportunities. From starting a small business to developing powerful enterprises that employ hundreds of people. Not only business needs this, every Ukrainian needs it," the Head of Government emphasized.

The Prime Minister noted that the cumulative effect of this will consist of several key factors. These include the growth of the basic strength of the state, including the military, as well as financial stability.

"By purchasing Ukrainian products, we return 40% of the funds back to the budget. Let me remind you that it is from domestic resources that Ukraine is currently financing the security and defense sector. This is our joint contribution to victory," emphasized Denys Shmyhal.

Another factor is the creation of prerequisites for preserving human capital. In particular, for the return of Ukrainians from abroad, because this is the only way to rebuild the country and start growth.

"It is also a clear signal to the world that Ukrainians have something to be proud of, something to offer, something to compete with. This is self-respect and respect of our international partners and friends," the Prime Minister said.

According to the Head of Government, the development of domestic production capacities can be influenced in four main areas: demand stimulation programs, affordable loans and grants, attracting investments in the real sector of the economy, as well as the development of export-oriented processing.

"This year's state budget allocates over UAH 45 billion for various business assistance programs. This is the first time such an amount has been allocated, and it can add 1% to Ukraine's GDP," said Denys Shmyhal.

In addition, the government has launched a program of compensation to farmers for the purchase of Ukrainian agricultural machinery. In the future, the program will be extended to all machinery produced in Ukraine. According to the Prime Minister, this is a clear signal to all Ukrainian machinery manufacturers.

"There are successful cases in the public procurement market when communities effectively stimulate domestic producers. There will be more such examples. There should be at least 20% of localization in the procurement of municipal equipment, energy equipment, urban and railway transport," said Denys Shmyhal.