The greatest European music festival has been conducted in Kyiv this year. Ukraine hosted the participants from 42 countries at the 2017 Eurovision Song Contest under the slogan ‘Celebrate Diversity’.
The diametrically opposite viewpoints have been formed as to impact of this Event on the Ukrainian business environment.
Entrusting you with the powers of independent judiciaries, we would like to share our vision of the unfolded arrangements.
First and foremost, we can’t help but mention the vivid proclamation of the European values demonstrated in Ukraine during the Song Contest. This has become another compelling evidence of the Ukraine’s European Choice, its investment attractiveness, capital-raising potential and development prospects. And that is not to mention the rich cultural heritage and historical traditions demonstrated in the course of 2017 Contest Celebration. In view of many challenges on account of influence of both global and local geopolitical environment as well as turmoil in eastern Ukraine, organizers of this spectacular and fascinating Event should be applauded.
Confucius once said: “Study the past, if you would divine the future.” Therefore, a brief outline of the major breakthroughs over the last years is needed to review the positive developments which gradually laid the groundwork for the onward progress in the Ukrainian business environment.
Economy
Starting from 2014 the Ukrainian economy has undergone a confident recovery and return to the growth and stability path. A series of reforms in the country has strengthened the trade relations with the world, including deep and compressive association with the European Union, free trade with Canada and forthcoming FTAs with Turkey and Israel. Following the already settled tendency in favor of development of its relations with the EU, Ukrainian citizens are granted to travel visa-free to the EU.
Technology
Having a long-standing reputation as a major ‘laboratory of new technologies’ and being among the largest IT engineering forces in Central and Eastern Europe, the Ukrainian opportunities in agriculture, infrastructure, natural resources, manufacturing and energy have become too attractive for the investors to ignore.
Current innovative discoveries
The showing-keen-interest show was presented by the Ukrainian ethno-folk group ONUKA. This is another vivid manifestation of general growth of the country’s allurement and attractiveness on the European stage. Being named as the ‘Ukraine’s electronic miracle’, Ukrainian sensation Onuka has combined the highest traditions and approaches with the most incredible innovative concepts, ideas and inspirations. This Ukrainian group showcased the modern face of Ukraine as the open-minded nation treasuring its national heritage, folk customs and traditions – the nation which keeps alive its history, remembers its present and moves toward the further progress, renewed economic growth, industry modernization and new discoveries. The advanced technologies are here closely intertwined with long-standing traditions and customs.
The same unfolding process of synergy flows through many other areas of business environment in Ukraine. The inherited traditions and cultural heritage have recently been transformed into the emerging technologies and innovative discoveries destined to change many key processes in the nearest future.
The Renaissance processes have been launched in Ukraine and have gained a considerable momentum!