TRUMAN became a partner of the first Eurasian IT Forum

On October 4-5, the first annual StrategEast State & IT Eurasian Forum was held in Kyiv. The event aimed to discuss the challenges of building a knowledge-driven economy in the Eurasian countries. Considering the IT sector as a driving factor for economic and social transformation, the forum participants discussed how to facilitate such transformation. TRUMAN joined the event as one of the partners.

Ukraine faces an important challenge—to go along with the new digital era. Joining the EU’s Digital single market (DSM) is one of the tools that can help meet the challenge. For Ukraine, DSM will mean obtaining access to online markets and e-services of EU countries, as well as getting an opportunity to boost investment, trade, and employment.

Ukraine will be able to join the market only after Ukraine’s rules and regulations successfully approximate to the EU legislation. To let it happen in the foreseeable future, it is critical for Ukraine to create a stable and predictable legal framework for the regulation of digital services and telecom.

This is not just about passing a package of laws, but rather about having a stable and independent regulator, free from political, financial or any other kind of influence. The main advantage of the regulator's independence is the trust of all market players.

"You shouldn’t underestimate this task. It is important to ensure following the letter of the law. It is important for both investors and entrepreneurs. Without an independent regulator, you will lose a key element—the trust of the international community. At the moment, Ukraine lacks it a lot,” Martin Bailey, head of Unit, digital policy coordination and development in the European Commission, said during a discussion panel.

Creating a proper legal framework in the telecom sector should be a priority not only for business, investors, and commissioners. At every level, Ukraine's political leaders must show how much they believe in the process and are committed to it.

On the sidelines of the Forum, you could hear that so-called “legislative turbo mode” in this context is not an advantage, but rather the other way around. The legal framework requires a serious and balanced approach, and it takes time. Fast decisions for the sake of an immediate PR effect in this situation work against rather than for the well-being of the country.

The Forum was attended by over 50 speakers from 12 countries and over 200 guests. The event brought together representatives of the private and public sector and international financial institutions, including the World Bank and the EBRD, to discuss the promotion of an innovative economy in the region and to devise the ways to promote digital transformation in the Eurasian countries.