“Made in Ukraine” and the development of small and medium-sized businesses: the Ministry of Economy and Visa signed the Memorandum of Cooperation

KYIV, October 2, 2024 — The Ministry of Economy of Ukraine and Visa signed the Memorandum of Cooperation in the field of digitalization of small and medium-sized businesses, infrastructural support of programs within the “Made in Ukraine” platform, and the encouragement of consumption of Ukrainian goods. The Ministry of Economy and Visa have agreed to work together to help Ukrainian small and medium-sized businesses transition to digital technologies. Another important direction of our work will be infrastructural support for state-implemented projects within the “Made in Ukraine” economic policy initiated by President Volodymyr Zelensky.

“Supporting Ukrainian manufacturers is one of the key priorities of the Ministry of Economy. That is why last February, at the initiative of President Volodymyr Zelensky, we launched the “Made in Ukraine” policy. It is extremely important for us that Visa, a global electronic payments leader, have joined this initiative. In cooperation with Visa, we hope to offer businesses new opportunities for development,” said First Deputy Prime Minister of Ukraine, Minister of Economy of Ukraine Yulia Svyrydenko.

One of the cooperation directions will be, in particular, the promotion of electronic payments. This will make financial transactions more transparent, contribute to combating the shadow economy, and create a fair competitive environment.

In addition, emphasis will be placed on improving customer service. The partnership between the Ministry of Economy and Visa will help implement innovative payment solutions that will encourage consumers to buy Ukrainian goods by offering them favorable conditions.

“For more than twenty-five years of working in Ukraine, Visa managed to develop a strong partnership with public sector players. We are proud of our productive work with the Ukrainian government and are glad to start cooperation with the Ministry of Economy. Amid full-scale invasion, the Ukrainian economy faces many challenges, and in these conditions, supporting small entrepreneurs becomes especially important. Our partnership with the Ministry of Economy is aimed exactly at this. I am confident that the Memorandum of Cooperation signed today will be a stepping stone to a successful economic future for Ukraine,” says Visa Senior Vice President, Group Country Manager for Ukraine, Georgia, the CIS and Southeast Europe Cristina Doros.

Previously, Visa joined the “National Cashback” program as the operational partner.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at visa.com.ua.