Despite several turbulent years, Ukraine’s economy is now showing real promise. The country recently received its latest tranche of IMF funding and is making a huge effort to stamp out corruption. With a large base of highly skilled technology professionals and a highly-developed information technology sector, Ukraine’s economy has all the ingredients required to create Europe’s next big technology hub. Continue reading Ukraine’s Tech Sector Is Booming but Needs Awareness and Confidence
I have been to Ukraine quite a few times but I don’t think I will ever forget my visit to Kyiv in November 2013. Not that it was special for me in any way, but it did mark the end of the pre-Maidan Ukraine. The events that unfurled only about ten days after I left to return to London, resulted first in President Yanukovich’s escape to Russia and, finally, in an ongoing military conflict in the eastern part of the country.
Not many Ukrainian companies can boast about being as old as the country’s independence. ELEKS is one that can, as the firm was set up in 1991 by Oleksiy Skrypnyk & Son and over the last 25 years it has become one of the country’s largest IT firms. Ruslan Zakharchenko, CEO at ELEKS, spoke to Jerry Cameron about the company’s origin and the experience ELEKS has gained over the years.
Continue reading From a Small Family Firm to a Top 100 Global Outsourcing Company
The popularity of IT is growing, which attracts more students to the IT courses in high school institutions and means the number of engineers graduating university within the next three-five years is increasing.
Ukrainian Quartsoft has recently started its first own product — SoftFarm, an agricultural management system and has enlarged its game development department specialising in Facebook games, e.g. CoralIsle, says Serg Kondratuk, CEO at Quartsoft. He spoke to Jerry Cameron about Ukraine’s IT outsourcing potential, his company’s development and future prospects.
While we are seeing (positive) changes in Europe in the direction of the CEE region, Ukrainian IT companies have already taken sizeable steps forward themselves.
Our aim is to teach customers how to outsource their IT demands, how to change internally if needed, how to overcome their fears and negative experiences with the correct solutions, says Dr Igor Braginsky, the Founder and President of NIX Solutions. He spoke to Jerry Cameron about the company’s development, and how entering Israel has helped the firm conquer international markets.
If the IT sector gets support at a general governmental level, it will contribute more and more to Ukrainian economics.
Low prices in the IT outsourcing sector stopped being Ukraine’s advantage a few years ago. Now, the country’s value is the services’ quality, which is incomparably higher compared to lower-cost Asian countries. Buyers look at Ukraine for technological expertise and reliability.
Continue reading Ukraine Outsourcing’s Value is Now in its Technological Expertise and Reliability
Valeria Gontareva, governor of the National Bank of Ukraine (NBU), might be leaving office, but is often commended for the banking sector restructuring and consolidation that has been long-awaited by foreign investors. Continue reading Ukraine’s Banking Sector Reconstruction Brings Asset Sales and Opportunities in Equal Measure
For the economies of emerging Europe, the international economic environment appears generally positive. In 2017-2018, GDP growth in the Euro area is expected to hover at around 1.7 per cent. The international financial markets have stabilised and the current economic mood is improving. Because of the global recovery, the US Fed is expected to increase interest rates further in 2017, while oil prices are likely to rise. In the EU, disbursements from the payments’ cycle of the European Structural and Investment Funds are only just beginning, indicating higher co-financed investments in the Central and Eastern European EU member states (EU-CEE) from this year onwards.
The talent of software developers is the linchpin of creation and development for the IT industry in any country. That is especially true in Ukraine, as Ukrainians are very talented as a nation. In the Human Capital Index, Ukraine ranks 26th out of 130 countries in the world. Continue reading Ukraine’s Talented Students Are Well Served by Its Diversified Business Relevant Education
Since the beginning of the military conflict in eastern Ukraine, quite a few foreign companies have left the country. Other firms decided to stay and grow the business, however, seeing Ukraine as a great location for their manufacturing facilities. Continue reading Longstanding Early Investors Say Ukraine Offers Foreign Manufacturers Great Prospects
State enterprises hold approximately 0.5 million ha of agricultural land, which may be of potential interest to investors.
Ukrainian President Petro Poroshenko felt quite content, during his visit to Copenhagen in early April 2017, when he heard leading Danish companies that already work, or plan to invest, in Ukraine say that they had already noticed practical results of the reforms. “This is a very good advertisement for potential investors to come and work with us,” he said at a joint press conference with Danish Prime Minister Lars Løkke Rasmussen.