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…old memories, restart to international networking
Ukraine is swiftly wiping out its old memories & scampering towards development, backed by strong industrial & agricultural sectors. The current socio-economic developments in an otherwise fractured & volatile polity are undoubtedly a big achievement.
While slow pace of reforms implementation had an opportunity cost attached with, in 2006, the output grew upto 100% and compensated for the same. Most importantly, Ukraine has developed a strong civil society through the serene ‘Orange Revolution’ that helped to institutionalise and organise the government activities along with the help of various NGOs & Task Groups. The industry is currently growing by 5% to 10% owing to rising steel demand & prices across the globe, and thus acts as a major contributor. The economy specialises in producing all types of transport vehicles that supplements the industry & infrastructural growth. Additionally, IT outsourcing is an emerging sector (generates $18 million) and is growing by 100%. Ukraine is no doubt ahead when it comes to scientific space exploration & remote sensing mission. Corruption & stifling bureaucracy exists in the transport & infrastructure sectors, but the rapid growth can eventually overshadow them.
Lucrative export opportunities & other economic engagements with neighbouring Western countries await Ukraine. There seems a possibility that it can prosper by exploiting its massive and skilled manpower and technology prowess. Ukraine will surely regain its shine by overcoming the bullying foreign pressures…Will be a game to watch…
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