In 2006, Vladimir Semynozhenko (http://semynozhenko.com/) and Ventoro's chief executive Phillip J. Hatch proposed the creation of a comprehensive economic, labor and investment development
This was created to help Ukraine achieve significant success in the global outsourcing, science and technology exports markets.
Goals for the program are:
- Establish a Ukrainian national strategy for developing the science, technology and outsourcing related industries in Ukraine
- Achieve a direct GDP increase of $1 billion per annum by the year 2015
- Create an additional 15,000 direct jobs in the global outsourcing and technology related markets in Ukraine by the year 2015
Regional states such as Romania, Czech Republic, Hungary, Bulgaria and Russia have developed their global outsourcing industries and have created multi-billion dollar revenue streams.
Further review of the current Ukrainian public policy toward global sourcing and technology innovation markets indicate there is an under utilization and a lack of maturity in these markets, which will continue to be a significant problem until the government becomes active with these strategic industries.
However, Ukraine has long held a proud position among the global leaders in education. Ukraine ranks in the top 10 countries globally in regards to:
- Total number of students graduating from universities per annum
- Total number of students in a university program at any given time
- Percentage of citizens with a college degree
But the country continues to struggle economically when compared to others with similar history of education.
Of the top 50 most educated countries in the world, only Cuba’s economy ranks lower than Ukraine.
Given Ukraine’s high level of education and GDP per capita statistic of $6,900 USD (2007 estimate) https://www.cia.gov/library/publications/the-world-factbook/print/up.html, we believe Ukraine’s labor market arguably presents the one of greatest potential for growth in the outsourcing industry today. This view is widely backed by World Bank http://www.worldbank.org and the International Monetary Fund http://www.img.org. As noted in the OECD’s 2007 report “Ukraine Economic Assessment,” http://www.oecd.org/document/7/0,3343,en_2825_497105_39105649_1_1_1_1,00.html Ukraine’s labor market represents one of the most significant growth opportunities for its economy.
The GO! Ukraine program will directly address this problem by further developing the country’s science, technology, innovation and outsourcing industries. All can create a material growth in employment.
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