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Innovative economy, intellect and competition for human resources are the basis of a successful country

18:34 21.09.2018

Batkivshchyna Party leader Yulia Tymoshenko believes innovation should replace the Ukrainian model of economy development based on raw materials and become the basis of the New Economic Course of Ukraine.

“An innovative economy is integration into the mainstream of the fourth industrial revolution. The world is at industrialization 4.0 and we are stuck in the Middle Ages with no success and economic development. We are in the raw materials niche,” Yulia Tymoshenko said during the forum “A New Economic Course for Ukraine,” in Kyiv.

The politician stressed that there is no future in an economic model based on raw materials.

“The more raw materials we grow, the lower the price, the lower the demand, and as a result we get a meager profit,” said the parliamentarian.

Yulia Tymoshenko also noted that if you compare Ukraine with Estonia, Norway, Israel and Singapore, which have the best innovative development, the GDP per capita statistics are striking.

“Ukraine’s GDP is $112 billion, while the total GDP of these four countries is a trillion dollars! At the same time, Silicon Valley, which is commensurate in size to Kyiv, has an annual GDP of $235 billion,” noted the parliamentarian.

In her opinion, if Ukraine does not implement the strategy of innovative economic development, it will not become a full participant in the Fourth Industrial Revolution.

“And then there will be a threat to our sovereignty and statehood,” Yulia Tymoshenko believes.

According to the parliamentarian, a Ministry of Innovation Development should be set up that works fundamentally “differently from our current Soviet-style structures and ministries.”

“This new ministry should be staffed by the most intellectual people in the country, who clearly know now innovation develops, how information technology functions,” she added.