Ukrainian IT Companies Takes Part in Oman Tech Exhibition

A delegation consisting of Ukrainian IT representatives, including those from Sigma Software Group and IT Ukraine Association, visited the COMEX 2024 exhibition in Oman for the first time between May 27 and 30 and presented their products and services to the Gulf States market.

Anatoly Motkin, president of nonprofit tech advocacy group StrategEast that accompanied the delegation, said there’s an interest in Oman’s tech sector at utilizing Ukraine’s tech talent.

“Oman understands and highly values Ukraine’s opportunities for cooperation in increasing expertise in the sector and developing Oman’s technological ecosystem. I am sure that this is the beginning of a long and productive cooperation in the IT sphere between our countries,” said Motkin in a press release.

Andriy Lytvyn, a representative from IT Ukraine Association, said the Gulf region is “uncharted,” but Ukrainian IT firms are interested in expanding in the region nonetheless.

“COMEX 2024 has opened up a world of new opportunities for us. It has allowed us to gauge

the market, understand its nuances, and establish initial contacts, which we are optimistic will

evolve into long-term partnerships.

“Though uncharted by us, the Gulf region is increasingly piquing the interest of Ukrainian businesses. We are confident in the potential for cooperation and intend to ramp up our activities in the region,” said Lytvyn.

Other Topics of Interest

IMF Approves $1.1 Billion Loan Disbursement to Ukraine Before Trump Inauguration

The IMF’s latest funding approval brings its total loan disbursement to Ukraine up to $9.8 billion out of the total loan amount of $15.5 billion approved in 2023.

In February, representatives from 10 major US IT software companies with operations in Ukraine met with Qatari officials in Doha during a visit coordinated by StrategEast to foster cooperation and bring Ukrainian IT expertise to the region.

As reported in December 2023, Ukraine’s information technology (IT) industry remained the country’s highest service export in 2023 despite Moscow’s ongoing invasion.

According to a report by Lviv IT Cluster, IT services represented 41.5 percent of the nation’s total exports and contributed 4.9 percent to its total gross domestic product (GDP) at $8 billion in 2023.

Recent data from the National Bank of Ukraine (NBU) showed that Ukraine’s IT exports in April amounted to $545 million, a slight decrease from March but still higher than April 2023.