Ukraine: Government Supports Construction of Modern Ships for Naval Forces

The Government will continue to support the construction of modern ships for the Naval Forces of Ukraine.

This was stated by Prime Minister Mykola Azarov during his visit a public joint stock company “Black Sea Shipbuilding Plant”, which conducted a comprehensive repair of Naval Forces’ ships and construction of new corvettes.

The PM has assured of one hundred percent financing to complete the construction of the new corvette.

He recalled that the funding for its construction was started in 2004 and after Orange Revolution – it had been stopped, in 2007 the Government of Viktor Yanukovych would resume funding for the project, but after the election-2009 the funding again was discontinued.

In 2010, the current Cabinet renewed funding for this program. “We will finish this project. We’ll direct all funds because we need a new modern fleet” – said Mykola Azarov.

The Prime Minister also said that the shipbuilding industry is exempted under the Tax Code for 10 years from the payment of income tax; the law to support the shipbuilding industry also will contribute its development.