Business news from Ukraine


23 June , 2019  

Ukrainian President Volodymyr Zelensky has said about his vision of how to make Ukraine the really rich country and called on business to invest money, time and ideas in Ukraine.
“We are carefully studying the experience of countries that are successful. We understand that they, first of all, invested in education, technology and infrastructure. Ukraine will do the same. Therefore, the role of the state in the economy in the next five years will be reduced to three things: do not interfere business; to build an excellent infrastructure for business and create conditions for doing business in Ukraine was simply convenient; third, focus on education, science and technology,” he said at a meeting with the business community in Kyiv.
Zelensky said that he was not used to catching up, therefore he is looking for creative breakthrough and innovative solutions for Ukraine with his team, and will tell more about them in the near future.
The president said that “to turn from a poor country into a middle-income country is not so difficult.” “The recipes are simple, success stories are known. All these is a mandatory program for us, and we will do it in the next five years,” he said.
At the same time, Zelensky is convinced that Ukraine needs to become a “truly rich country.”
“According to the World Bank, in 1960 there were 101 countries that are developing, and only 13 of them were able to become developed rich countries. In addition, most of them did it at the expense of natural resources. Economists have a special term: “middle income trap.” Its essence is very simple: poor countries compete with cheap labor. As soon as a country receives an average level of income, competitive advantages disappear and the country ceases to develop rapidly. According to this scenario, the country almost never becomes rich, the highest level is “medium,” he explained.
“Half a year ago I decided to invest the most precious thing I have – my time – in Ukraine. I urge you to do the same: invest time, money, ideas in Ukraine. Let’s change Ukraine together!” Zelensky said, addressing business at the end of his speech.

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