Cabinet increases term for implementation of investment programs in car industry from three to five years

14:06

The Ukrainian cabinet has approved an increase in the term for the fulfillment of programs to create facilities in the car-building sector that were agreed with the industry and economy ministries from three to five years.

The press service of the Industry Ministry reported that the resolution was endorsed at a cabinet meeting on Wednesday. The cabinet supported a draft law presented by the ministry on amendments to the procedure for selecting goods imported to Ukraine for use in industrial production of motor and transport vehicles.

The press service says that as a whole, the adoption of the resolution will help stabilize conditions for national goods producers, completing the creation of production facilities in the car-building sector in order to transfer to CKD production, and creating conditions for attraction foreign and domestic investment in the car-building sector.

The resolution has not yet been posted on the cabinet's Web site.