The Law on the Localization of Industrial Production Came Into Force

The Law "On localization of industrial production" has entered into force. The document was signed by Ukrainian President Volodymyr Zelensky. The bill was considered and adopted by the Verkhovna Rada on December 16, 2021; 323 people's deputies voted for it.

In accordance with the law, a number of changes will be made to the Law of Ukraine "On Public Procurement". New provisions have been introduced for the development and modernization of the industrial complex in Ukraine. In particular, localization requirements will be changed when purchasing products from the engineering industry. Thanks to the new law, domestic industrial enterprises will receive preferences over foreign ones.