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7 June 2012 Federation of Employers of Ukraine. Development of Ukraine

Dmitry Firtash Urges Domestic Machine Builders to Employ Advanced Technologies

Speaking at the meeting of the Council of Domestic and Foreign Investors under the President of Ukraine on June 7, Mr. Dmitry Firtash, head of the Board of Directors of Group DF and President of the Federation of Employers of Ukraine suggested that at least half of the hardware supplied for any construction of new industrial facilities must originate from Ukraine.
 
“Today, production modernization is a burning priority for many enterprises. Yet each of us undertaking a reconstruction effort or building a new plant tends to work with Western machine builders as they offer more advanced technologies and “cheap” money – preferential loans. This is something our industry can’t offer. This situation needs to be rectified and domestic machine building has to be seriously advanced,” argued Mr. Firtash.
 
The FEU President believes that a remedy may be used by introducing a quota whereby at least 50 percent of engineering inputs employed at construction of industrial facilities be produced by domestic machine builders. “We have already come up with some draft ideas: for instance, we suggest a regulatory requirement mandating that at least 50 percent of Ukrainian technological solutions be used in the course of reconstruction of the existing plants and building new ones,” explained Mr. Firtash.

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