Ukraine to Become the ‘Outsourcing Valley’ of Europe

April 14, 2014 Corporate News

Ukraine is to become the ‘Outsourcing Valley’ of Europe. The Ukrainian government along with regional IT outsourcing companies started a new project to prevent future brain drain in the country. The project’s main goal is to develop the industry and enhance the living and working conditions for IT professionals in order to limit the number of software engineers leaving the country to pursue opportunities abroad.

The program for IT industry development aims to create 100,000 more jobs by 2020. To further increase the attractiveness of Ukraine as an outsourcing destination, the signatories plan to re-evaluate the current tax-structure of the industry. The project was signed by the Minister of Economic Development and representatives from regional IT companies. The details of the project are currently in the planning stage. If the necessary steps are taken, the revenue from IT exports to USA and EU can increase to over $10 billion.

The program is part of a larger effort to convert Ukraine from a resources-based economy to a knowledge-based economy. It is a welcome addition to continuous advancement of the Ukrainian IT industry. Other most recent projects include things such as the nation-wide “Innovative Ukraine” initiative that aims to improve IT education, IT industry, e-commerce, IT in the government sphere, support for start-ups and venture investment.

Source: Ain.ua

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