Cabinet approves plan of measures for SME development

Cabinet approves plan of measures for SME development

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Ukrinform
The Cabinet of Ministers has adopted a plan of measures to implement the Economic Development and Development Ministry's strategy for the development of small and medium-sized enterprises (SMEs) in Ukraine for the period until 2020.

The respective decision was made at a government meeting on Thursday, an Ukrinform correspondent reported.

"There are almost two million small and medium enterprises operating in Ukraine, accounting for more than half of the country's gross domestic product. The government and the Economic Development and Trade Ministry understand the importance of supporting and promoting the development of this sector of the economy. It was for this purpose that we adopted the strategy for the development of small and medium-sized enterprises. The plan approved today, in turn, is aimed at intensifying and increasing the effectiveness of the government's work in implementing the directions enshrined in the strategy," First Deputy Prime Minister and Minister for Economic Development and Trade of Ukraine Stepan Kubiv said.

In May 2017, the Cabinet of Ministers approved a strategy for the development of small and medium-sized enterprises in Ukraine until 2020.

The strategy includes a number of directions for creating a supportive environment for SME development, increasing access to finance, simplifying tax administration, promoting entrepreneurial culture and developing entrepreneurial skills, enhancing the competitiveness and innovation potential of small and medium enterprises.


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