We must carefully develop every industry and enable business growth

19.12.2024

Ruslan Shostak, President of TERWIN

Ukraine must independently determine its strategic industries and develop them.

The state is currently doing a lot to promote the country on the international stage. Never before has Ukraine’s voice sounded so loud and clear globally. And now it is essential for all ambassadors, consuls, and state departments to actively promote and protect Ukraine’s economic interests.

Like, for example, the USA does. Where KPIs for officials and country representatives abroad include the number of export-import contracts and new business contacts, and only then the promotion of national culture and art.

Have you ever seen the US government promoting American dancers or a children’s choir? Or Germany, for instance, a theater production? But we all see major international agreements communicated globally, promotion of industry, goods, and services.

Our diplomats are now focused on military assistance for Ukraine, but we must also remember economic interests.

Apart from the existing export-oriented industries, Ukraine has sectors that deserve special attention.

The IT sector, where over 300,000 specialists work in 2,000 Ukrainian IT companies. Today we are already the largest IT outsourcing hub in Eastern Europe and one of the largest globally.

Green energy, where Ukraine is increasing its potential, and this sector can be export-oriented.
Medicine, Ukraine’s strong side, which can bring billions of dollars after the war. With rapid growth and expertise in prosthetics, mental health, and psychological assistance, many people from all over the world could come to us.

Let’s not forget tourism. Millions of tourists live near Ukraine, and 500 million more are within a two-hour flight. Our country has everything: mountains, sea, culture, food to attract them. This is a $1.5 trillion market annually, and we should fight for it and get 10–20% of it.

Agriculture, if we transition from raw materials to finished products. Don’t forget, Turkey is the second-largest exporter of pasta in the world after Italy, using our wheat... And so on. There are enough vectors to focus on.

We have focused on logistics. Which is entirely logical for us as one of the largest retailers in Ukraine. We see great prospects for developing the Ukrainian economy in this field, especially considering European integration, the restructuring of trade and logistics towards the Ukraine-EU vector, the destruction of 25% of Kyiv’s total warehouse facilities by Russia, and market imbalances (55% of quality warehouse facilities are concentrated in the capital today).

So, we decided to reduce Ukraine’s deficit in quality warehouse facilities by building a logistics complex of 1 million square meters in four regions.

I am sure I am not the only one who sees so many opportunities in this country for economic growth. But to make this happen, we must carefully develop every industry and enable businesses to grow.