When will Ukraine’s economy reach critical mass and start the virtuous circle of profits, investment, rising wages and ballooning consumption? Of all the countries in the former socialist block, Ukraine is one of the last to begin its “catch up” growth spurt, but with a new raft of reforms and the first ever push-back against the oligarchs by the government, the take-off may be close.
UkraineInvest, the government investment promotion agency, has just had an injection of fresh blood as the Zelenskiy administration cranks the handle of the foreign investment engine. Sergiy Tsivkach recently took over as CEO of UkraineInvest and talked to bne IntelliNews on the sidelines of the German-Ukraine annual investment conference in Berlin on March 19.
The Government of Ukraine is taking consistent steps to unlock the potential of Ukraine’s IT sector. Reforms that are being implemented by the Ministry of Digital Transformation of Ukraine are aimed at boosting IT investments.
Newly-announced amendments to Ukrainian tax, labor, corporate, IP and law enforcement legislation will incentivize IT businesses to consider Ukraine as the next destination for their investments.