Diia City to increase IT share in Ukraine's GDP to 10% – minister

Ukraine's Deputy Prime Minister and Minister for Digital Transformation Mykhailo Fedorov says now the share of the country's IT and creative industry is within the range of 3.7% to 4.2% of GDP, according to various sources, while the government's goal is to increase it to 10%.

Read alsoUkraine's booming IT sector defies coronacrisis – mediaHe made the comment at an online press conference devoted to the revised bill on the so-called Diia City, a special legal regime with no limits for new investment, jobs and the development of cutting-edge technology, held on March 25.

According to the official, the adoption of Bill No. 4303, which lays the legal foundations for the creation of Diia City, will help achieve the goal.

The minister stressed that Ukraine needs to accelerate the creation of favorable conditions for IT in order not to lose its competitive position in the region.

"Every month, special tax regimes appear in different countries, namely in Moldova, Poland, and Kyrgyzstan. New opportunities are constantly appearing worldwide. So, Ukraine needs to create an ideal tax system to compete," he said.

Fedorov added that Diia City is able to provide such a system.

"We have a concept we believe in. This is a unique opportunity for our country and we need to implement it qualitatively," he stressed.

Deputy Chairman of the Verkhovna Rada's Committee on Digital Transformation Yehor Chernev says the Committee, while working on a new version of the bill, adopted over 300 amendments submitted by businesses.