10 SECONDS TO READ…
- PROFESSIONALS AVAILABILITY
- IT BUSINESS IN UKRAINE IS ACTIVE
- CONSIDERABLE LABOR COST
- PROXIMITY TO EU
- HIGH PERCENTAGE OF EDUCATED AND ENGLISH-SPEAKING HUMAN RESOURCES
- HIGHLY-MOTIVATED SPECIALISTS
- WESTERN CULTURAL VALUES.
Being always the technical region of the Soviet Union, positive legacy left for business in Ukraine in a form of developed scientific and educational base. Here are some bright facts and statistics to depict the situation.
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Ukraine is a space-enabled country, has an international governmental space programs, as well as specialized production facilities and research institutes.
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A developed academic network is working in the country and educates thousands of skilled specialists each year. The statistics says that literacy rate in Ukraine is 99%. For each 10 000 of population there are 107 students studying in more that 300 universities of III-IV accreditation levels.
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The traditions of physical, mathematical, and programming schools are really strong as the result of technological legacy. Nearly 60% of universities are graduated in these areas. The IT specialists are prepared in numerous universities, specialized schools and internationally certified courses.
As an assistance for IT education there is available up-to-date literature both in English and localized versions, developed Internet infrastructure and academic computer networks.
Specialists
As a consequence Ukrainian IT specialists are recognized in a world and are demanded in a really wide set of industries! In early 90-th a lot of IT professionals left Ukraine to work on-base with foreign companies but now this changes. With the development of IT outsourcing new generations choose not to leave their homeland and work as off-base personnel for prospective IT-enabled companies.
The new generation of Ukrainian specialists is goal-oriented, active, highly motivated and already approached western standards of business. Young age of the IT offshoring business in Ukraine allows attracting best professionals within short time scale.
Cost And Market
Even if the labor cost is slightly above the level of India’s, still it is below the cost in Russia and already many IT outsourcing-oriented companies realize benefits of working with Ukrainian service providers
Though the industry is still young the trend is quite bright in statistics – average growth of IT outsourcing in Ukraine is 40% per year and the market volume was estimated $150 mln in 2005 in research of “Market Vision”. But there also other estimations by Ukrainian Hi-Tech initiative group exist: overall export of IT services in 2005 is equal to $500 mln and growing (perhaps freelancers are accounted there).
New investment opportunities for the world outsourcing direction are opened by positive changes in social and economic life of Ukraine. Those are additional incentives for boosting partnership with Ukraine.
Geographical Summary:
Ukraine is located in Eastern Europe with nearly 50 million people population and one of the biggest countries in Europe. It is the second largest republic among the former Soviet Union and is the closest to the West.
Time zone is UTC+2 and UTC+3 in summer.
Calling code +380
It borders Poland, Slovakia and Hungary on the west, Russia on the north-east, Belarus on the north, Romania and Moldova to the south-west and is washed by the Black Sea on the south.
The capital is Kiev (also spelled as Kyiv) which is know as “most green capital in Europe”, approximately 3 million people of population – the biggest city in Ukraine.
Historical And Economic Background:
Modern capital of Ukraine, Kyiv, was once the center of great Kyivska Rus’ (also spelled as Kievan Rus?) state. The full history goes back in time for more than a millennium, but let’s cover here only modern history.
Independence from the Soviet Union was declared at August 24, 1991. After that Ukraine started it’s way to democratic society and free marked economics. It took already as much as 15 years to perform steps towards and will surely continue in a future.
During 2006 Ukraine gathered a lot of achievements on a world stage, such as recognition by EU and USA and a country with free market, repealed Jackson-Vanik amendment for Ukraine.
Also huge steps are made towards World Trade Organization and there might be a New-Year gift for Ukrainians – inclusion of Ukraine to WTO as a full member.
International tax agreements are signed with numerous developed countries to exclude double taxation thus allowing successful cooperation with foreign countries and outsourcing contracts.
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