![]() In western Ukraine, a tight labor market in Lviv is pushing investors to look at locating factories in secondary cities near the EU border. They want to buy cheap, and get set up here before their rivals do.”Īt the British embassy, an economic official said that during the first half of this year, his office received inquiries from 157 British companies interested in trading or investing in Ukraine. These guys have no interest in publicity. “They don’t like publicity,” Ash emailed of the managers who collectively represent several trillion dollars.Īt Avalon Restaurant, an elite meeting place near the German embassy, one London-based international investment facilitator said, “In twelve weeks, I have gotten more queries and assignments than in the last twenty-four months. In June, Tim Ash, the Nomura Bank economist, brought five asset managers from London to Kyiv for closed-door meetings with top government officials and business executives to assess Ukraine’s potential. Ukraine is now Europe’s leading country for IT outsourcing work. But IT salaries here are about one third the British level. “Programmers in Ukraine are better than in China, more innovative than in China, and cheaper than in China.”Ī new study by Horizon Capital shows that Ukraine graduates 130,000 engineering students every year, almost twice as many as Britain. “Don’t tell my competitors-if they want to keep going to China, let them,” said Alain, a French IT company manager who was boarding an Air France jet for the three hour flight back to Paris. American, Canadian, and European Investors Quietly Descend on KyivĬhestnut trees shade the streets, restaurants colonize sidewalks with “summer verandas,” and hemlines rise with the temperatures.īut this summer, this garden city is seeing a new, discreetly invasive species: American and European investors who believe Ukraine is turning around.
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