Ukraine: Between Russia and the EU

Abstract

This chapter concentrates on the sociopolitical aspects of Ukraine’s development which contribute to the specifics of its business culture. Despite significant changes in Ukrainian society after the ‘Euromaidan revolution,’ Ukraine is still in the ‘shadow’ of the communist past that influences all spheres of life. Ukraine is an attractive country for investment and international business. Highly qualified and relatively cheap labor, advantageous geographical location, and rich natural resources make Ukraine interesting for international companies. But Ukraine still suffers from the insufficient legal system, corruption, economic, and political instability. Ukraine continues to face challenges to its statehood and territorial integrity due to Russian aggression and the fragility of its state and democratic institutions. In sum, Ukraine remains a challenging place for an international business, but with plenty of opportunities and great potential in the future.