Local governments’ important task is to create attractive investment climate in the regions, President Viktor Yanukovych said at a meeting with the administrative leadership and businessmen of Donetsk region, ForUm learned from the presidential press office.

The current economic situation in the world demands Ukraine to implement reforms as fast as possible, he said. "Nowadays, we must not only keep pace with the times, but gain speed," he said.

President Yanukovych drew attention to the importance of effective public-private partnership and the need to strengthen inter-regional cooperation mechanisms. "It is very important to create such mechanisms of public administration and cooperation between the regions and industries that would work to improve the economy," Viktor Yanukovych said.

Ukraine needs to follow the path of innovative development, the President said, particularly given our enormous resource base, only 18-19% of which is processed in our state. He expressed his belief that this situation should change and the production of high added value products should increase.

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