OREANDA-NEWS. June 15, 2010. To increase drastically the inflow of investments to real economy is the task for the Government of Ukraine, regional and local authorities. First Vice Prime Minister of Ukraine Andriy Klyuyev said this at the expanded meeting on the development of Kharkiv region in Kharkiv.

According to him, in the recent years the inflow of foreign investments to Ukraine has been practically stopped, in its structure dominates investing to the financial sector. "Domestic and foreign investors  continue to ignore the real sector", stressed Andriy Klyuyev. According to him, the depreciation of fixed assets has reached critical level - 61.7% and reflects the extremely low competitiveness of the economy.

"We need to select very carefully the technologies,  companies should be focus on the implementation of modern projects only", noted Andriy Klyuyev. According to him, today the volume of the world trade of high technology products Ukraine's share is only 0.1% that is by one order less than the share of Poland, and by two orders lower than Germany’s share.

The First Vice Prime Minister of Ukraine stressed that Kharkiv region experience in scientific and technical support of the regional economy, creation of innovation infrastructure and technology park is important for all Ukraine. In his opinion, it’s also important to resume inter-regional relations in these areas, to use maximally the potential of Ukrainian academic, sectoral and postgraduate science on a reciprocal basis.

Andriy Klyuyev outlined that to change drastically the situation we should significantly improve the quality of preparation and implementation of investment projects. According to him, due to the low quality of work with projects even credits allocated by international financial institutions have not been realized.

The First Vice Prime Minister said, the Government is forming an effective system of investment not only at national but at regional level. "On the instruction of the Cabinet of Ministers a draft system is being developed to improve significantly conditions for investors", stressed Andriy Klyuyev. According to him, this is mainly about the simplification of procedures for issuing land to accommodate companies, connect to electricity system and to network utilities and infrastructure development in areas where will be situated investment production.