Ukraine’s Embassy in the U.S. presented an ambitious project to position Ukraine as the Silicon Valley of Europe. The Ukrainian government has created a strategic initiative that will secure a brighter economic future by developing stronger and more permanent solutions, including IT cloudsourcing.

The vision is to make Ukraine the Silicon Valley of Europe by securing 10-15 percent of the global IT outsourcing industry, estimated at USD $288 billion in 2013.

Minister of Economic Development and Trade of Ukraine Pavlo Sheremeta states that the initiative would be implemented through the development of state, commercial, scientific and educational sectors of national IT market, including IT outsourcing services. The program will facilitate creation of 100 000 jobs in this sphere and provide up to $10 bln USD in export revenues within next five years.

The initiative was presented to New York Media on May 29th.

Ambassador of Ukraine to the U.S. Olexander Motsyk at the Ukrainian IT Day in Washington D.C.:

“Today, Ukraine is undergoing the complicated process of quite ambitious reforms. Preserving national economy is therefore a matter of national survival for Ukraine. It’s also a matter of maintaining economic and political stability of the world. But we do not simply waiting for the international community to bail us out – we take every possible measures to boost our economy and looking for effective solutions.

Ukraine is ready to compete for a larger share of IT outsourcing business. Technological, educational and tax advantages permit Ukraine to hope to grow its share of global outsourcing to 10-15% or even more.”