Tuesday, April 24, 2018

Prime Minister sees IT sector additional driving force of upturn

The information technology sector, which demonstrates steady growth, is capable and should become an additional driver of overall economic growth in Ukraine. Prime Minister of Ukraine Volodymyr Groysman said during a meeting with CEOs of leading IT companies of Ukraine.
"Essentially, the fact that IT is on the rise is a positive signal of our competitive potential. Last year you demonstrated a 20% increase and this year's plan doesn’t lag behind - it's also a positive signal. Further steps are crucial, such as further deregulation measures, professional training. We must win the competition", urged Volodymyr Groysman.

He stressed that the economy demonstrates a tendency towards upturn. "We need investments. And on the part of the Government there should be immutable rules. We should achieve a 1.5 to 2fold growth across the region. I want IT to be the driving force behind this progress", the Head of Government added.
Background
Presently, the IT industry is among the top three industries with the highest share of GDP in the country. The total income of the industry in 2017 amounted to $ 3.6 billion, yielding only to the volumes of agrarian industry and metallurgy. IT products make up for more than 3% of the country's GDP.
The industry employs over 120 thousand specialists apart from management staff, specialists of marketing and sales departments, other specialists of related occupations. This year, according to forecasts of experts, the number of developers should increase by 20-25%, and by 2025 - double. It is indicative that about 40% of demand for commercial real estate in the capital is formed by IT companies.

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