Ukrainian Prime Minister Mykola Azarov has said government support of the IT industry must be a strategic objective, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

Market analysts have review positively the development of Ukraine's IT market. In their view, government efforts to create the most favorable conditions for development of the industry are beginning to show positive results. During the several last years, the IT industry's has posted 25% annual growth.

Laws "On state support of software industry" and "On taxation of software industry," which were drafted and adopted in 2011, have helped.

VAT exemption and introduction of a 5% profit tax stimulated development of Ukrainian IT-companies and has helped to maintain their position in the global software market. The Global Technology Foundation forecast that in 2013 the volume of Ukrainian IT market will reach 3.6 to 4 billion USD.

Analysts say the promotion of the Ukrainian IT market should be one of the priorities of Ukraine's government.

Given the rapid growth of the IT industry in the world and the high level of training of the Ukrainian IT specialists, there is every possibility that the IT industry will become country's leading sector. It could potentially generate revenues comparable to the agricultural sector and the steel industry, analysts say.

The IT industry falls under business activities which generate a high level of added value. The development of this industry can significantly increase the country's GDP and exports of services.


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