Why Ukraine
A developing country seeking to attract investments from oversees offers multiple and untapped opportunities for so many businesses.
Ukraine is much more the rule rather than an exception, the fact which makes the most potential investors to join those who are the biggest contributors to the Ukrainian economy current development.
Top Five Reasons to Invest in Ukraine
Developing Economy
- Historically, the country joined the world’s democracies community back in 90ies, establishing its independency almost 30 years ago; now it is only a start to forging the carcass of its growing economy.
- The reality is that the Ukrainian market will give lots of free niches while having only a few competitors at the same time.
- This makes the economy flexible enough to provide foreign businesses with plenty of opportunities.
There are all preconditions for economic growth in Ukraine in 2021.
Volodymyr Zelenskyy,
President of Ukraine
Skilled Human Capital
- Ukrainians should be considered as one of the most educated work force in Europe with more than 45 million people residing in Ukraine; over 70% of these enjoy their secondary and higher education.
- Here we observe the educational centers in the largest cities, the list goes with such biggest cities like Lviv, Odessa, Kyiv, Kharkiv, and Dnipro included.
- Here there are hundreds of thousands highly educated, naturally gifted and skilled young people willing to obtain their higher education diploma to get the access to some greater job opportunities.
- Among these, the biggest share belongs to the potential employees who are technically educated (math-, science-, and computer graduates) which makes approximately 10% of the total. After having graduated, the significant part of these would join the IT sector to add to the already huge skilled workers with technical background pool.
Low Cost Labor
- Due to the fact that the Ukrainian Hryvnya has slightly devalued recently, the country became one of the most competitive environments thanks to the low cost labor opportunities.
- Same situation proved for the raw materials and any other resources available (production costs, water supply, power supply etc.) at the much cheaper cost than in any other developed country.
All services, including public and administrative ones, should be digitized within five years.
Mikhailo Fedorov,
Minister of Digital Transformation
Key Markets Access
- Ukraine is actually favored as the one of the most attractive hubs to ensure access to the European and Asian markets and to the Black Sea basin where the most potential sea ports are capable of large vessels reception and service.
- Ukrainian transport communications developed network means over 22,000 kilometers of railroad pathways together with 20 passenger airports; this is the key to efficient and up-to-date logistics business option.
Huge Foreign Investment Demand
- Deep and comprehensive free trade agreement with the European Union;
- Friendly business environment shall be created due to the recent Ukrainian efforts to adopt an array of favorable legal initiatives within the frames of Ukraine – EU Association guidelines. The EU will back up for the adoption and faster implementation of such
- The Ukrainian government created the “National Investment Fund of Ukraine”. The latter will considerably improve the attractive image of Ukraine as for investment opportunities, reduce the challenges potential investors from oversees are currently facing, as well as it will further contribute to the development of international economic collaboration.
- One more Ukrainian resource so far dramatically underestimated and underutilized, this is about fertile agricultural purpose land of the country. After the private sales of agricultural land are legalized, the forecasted price of it will presumably rise several times.
- To do business in Ukraine now is much easier thanks to the recent positive changes with public services and innovative ideas being implemented like services digitized, the market being transformed to more predictable and hitting higher world bank rates, now climbing up another seven steps to ranks 64 with the Ease of Doing Business ranking out of 190 countries.
- Now Ukraine is witnessing foreign direct investment inflow in the amount of USD 16 billion, resulting in the creation of thousands of new jobs and launching hundreds of manufacturing plants.
- One of positive changes for better business environment operation has become the implementation of the electronic public procurement system ProZorro – the one which makes it all transparent and allows for all kinds of businesses participation in public procurement; less red tape and no more “connections matter” context!
Privatization in Ukraine is in Full Swing
Ukraine is currently in the process of privatization of the state objects through the ProZorro auction system.
For a long time our company has been successfully preparing, supporting and administering the clients who are the participants in the ProZorro electronic auctions system.
Investment Flow Steadily Grows
The current status of all matters is that despite the pandemic, latest lockdown challenges and issues, as well as irrespective of all issues connected to economic downturn, capital investment in the IT industry in Ukraine, for instance, for the year of 2020 increased up to USD 571 million. And 2021 should become even more active for Ukraine in terms of attracting investment.
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Success Stories
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Country Profile
Developed market economy. The country has strong and competitive industries, especially agriculture, energy, metallurgy, chemical and manufacturing industries, as well as IT and high-tech sectors.
International trade agreements. Ukraine has signed 18 free trade agreements with 47 countries. One of the most important documents is the Association Agreement with the European Union, signed in 2014. All this makes Ukraine competitive in the international arena.
Human potential. Ukrainians are valued all over the world, and our specialists succeed in many areas. In addition, the volume of investments in Ukrainian startups is growing every year, in particular in the IT industry. Many successful companies, such as Depositphotos, Gitlab, Ajax Systems, Restream and others, also come from Ukraine.
