INSTITUTE OF NATIONAL ECONOMY DEVELOPMENT
The mission of the Institute for National Economic Development is to promote the development of an economic system capable of ensuring breakthrough growth in people’s incomes, sustainable competitiveness and stability in global competition through the development of its manufacturing sector. The construction of such an economic system is planned using the New Industrial Development (NID) approach, which is seen as a process of accelerated creation in Ukraine of a modern, high-tech and diversified (digitised) manufacturing industry that will become the basis for the structural transformation of the entire economic system and the growth of all its sectors. Such a transformation will first and foremost strengthen the economy’s ability to continuously create the higher added value of goods and services that the market needs, which is a key factor in competitiveness in the context of globalisation and the roll-out of Industry 4.0.
The principles on which NIRU is based stem from the fundamental economic freedoms of a democratic society. They are designed to unleash the energy of entrepreneurship and channel it into the creation of modern material goods. Here is a brief overview of the main principles.
- The latest industrial development is based on private property and a market economy, and draws its energy from the combination of the initiative of economically active citizens and the initiative of the state.
- State support consists of financing expenditures that strengthen the country’s overall economic potential, in particular by creating infrastructure, and measures that encourage the private sector to develop industrial goods production. To this end, NIRU relies on the introduction of advanced technologies and practises various forms of state incentives for the development and implementation of such technologies in Ukraine.
- The NIDU process should be comprehensive, ensure social inclusion, and offer equal opportunities and fair distribution of benefits.
