The digital economy is also a digital market. If Ukrainian IT companies can afford
the most up-to-date equipment, then small and medium businesses, potential buyers of
their goods and services in Ukraine, are limited both in technology and in finances.
Here is a simple formula: more affordable functionality of goods and services - more
money, more jobs.
In addition, the quality of digital infrastructure in Ukraine is at a very low level.
According to Speedtest.net, Ukraine's position in the world in terms of Internet
connection quality is incredibly low: 114th in terms of mobile Internet quality and 45th
in terms of broadband Internet quality. [25]. According to experts from the World
Bank, an increase in the number of users of high-speed Internet by 10% may increase
annual GDP growth from 0.4 to 1.4% [22]. Thus, the introduction of the digital
economy in Ukraine is actually narrowing down to the development of communication
and information networks.
But the technological delay in the development of the digital economy is currently
a Ukrainian economic advantage. The complicated geopolitical situation and, as a
consequence, the weakened economy requires large-scale solutions, and, in particular,
digitalisation can be the cause of an economic jump. Digital infrastructure will evolve
in any case, with the support of the state or a set of local business initiatives. The
gradual transition to electronic accounting and e-government, adding to the
international online business is not a choice but a necessity. Action Plan for Ukraine's
transition to a new model of economic development are presented in Table 3 [24, 25,
26, 27].
Table 3 Planned activities digitalization Ukrainian economy
Legislative,
organizational and
methodological support
Development of the
"Industry 4.0"
Export of digital
technologies
Digital Infrastructure
Development
Using modern
terminology in all areas
Research and study
potential Industry 4.0
Improving the taxation
IT industry and
harmonization of
legislation
Development of
measures to
stimulate, develop the
technology of
blockchine
Regular estimates and
forecasts by
international indices and
ratings
Measures to stimulate the
development of Industry
4.0: Innovation and
engineering parks, public-
private partnerships
Development and
implementation of the
Institute of "digital
ambassadors" of Ukraine
on priority export
directions
Implementation of
mobile 4G and 5G
Development and
implementation of
universal digital services
for citizens in science,
health, education
Development of proposals
to create a special fund
support digital development
Modernization of
education, creation of
research centers
Implementation and
effective use of
broadband Internet
access
Development of sectoral
strategies for digital
development involving
business
Measures to stimulate the development of "smart technologies"
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