Ukrainian economy does not attract enough innovations. This assessment was aired by First Vice Prime Minister Mykola Azarov during the opening of the "Transfer of Technologies and Innovations" international forum in Kyiv Monday, "Cabinet" press service.

The Vice Premier believes that long- and middle-term budget planning can help realize a number of innovation projects at the state level.

According to him, the Government has undertaken a number of necessary steps. Notably, it has set up a state agency and allocated substantial resources for attracting investments and innovations. The draft Tax Code stipulates an opportunity to facilitate the crediting of innovation technologies.

Moreover, a Concept of the National Innovation System and a draft law on amendments to the law "On the Innovation Activity" have been elaborated, and a law "On the Transfer of Technologies" has been prepared. "We earmarked UAH 1 bn for innovation projects in 2007, and we have foreseen considerable expenditures in that area in 2008 as well," Mr. Azarov said.


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