Ukraine Business Page

High potential for investment in the growing Ukrainian IT market

The Ukrainian information technology (IT) industry is the world’s fifth largest and the fastest growing IT outsourcing services market. The listing of EPAM Systems, Inc. on the New York Stock Exchange in February 2012, raising US$ 72 million, focused a spotlight on the IT industry in Ukraine. However, the sector is still underinvested in many areas.

 Why Ukraine ?   

Ukraine  is an emerging  free-market  economy  with  considerable  growth  and  investment potential. The country’s growing services and agriculture sectors complement the sizeable manufacturing and heavy industrial sectors. In the 2000 s the country posted solid GDP growth  backed  by  favorable external conditions, strong domestic demand, macroeconomic stability, and solid consumer and investor confidence. Having been seriously affected by the 2008 economic crisis Ukraine was able to return on the path to recovery in 2010.

Chemical and ferrous metal industries have been the backbone of Ukrainian exports, with Ukraine ranking  among  the  world’s  top “10” steel  producers. The production of manufactured  goods includes metallurgical equipment, diesel locomotives, tractors, and automobiles.   Ukraine has inherited a large high-tech base, including electronics, arms, and aerospace industries, although it requires considerable investment. With the introduction of new technologies and innovation in the agriculture Ukraine is poised to become a major producer of agricultural goods on the global scale. Ukraine is well-positioned to serve an Eastern European hub for software development and IT services. Ukraine’s key trading partners include the EU countries and the Russian Federation.

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