Ukraine is planning to launch a 5G pilot project in three cities over the next two years to test compatibility with military networks. The first trial will take place in Lviv, with potential expansion to Kyiv and Odesa. However, due to the ongoing war with Russia and economic factors, the full rollout of 5G may be delayed. The government aims to complete the launch of 5G by 2030, offering faster data transmission speeds and new opportunities for information exchange.
In an effort to counter drones, the Thales Belgium manufacturer signed a cooperation agreement with the Ukrainian defense industry to produce anti-drone missiles. More than 2,000 drones were launched against Ukraine in October, prompting the partnership to enhance defense capabilities. Thales is known for developing air-to-ground rocket systems and will work on transferring technology and producing missile components with Ukraine. The joint production aims to strengthen the country’s defense industry and protect critical infrastructure.
The Kyiv International Economic Forum, one of the largest in Eastern Europe, is set to take place on Nov. 7, bringing together business, government, and society representatives to promote Ukraine’s integration into the global community. Additionally, the OKKO Group plans to invest $1.5 billion in a new ski resort in western Ukraine, marking one of the country’s largest investments. The Goro Mountain Resort aims to rival Bukovel and is supported by a partnership with the government for land allocation and tax exemptions.
Endeavor, a global entrepreneur network, has opened its first office in Ukraine to support high-growth tech companies in scaling up and expanding globally. The organization connects entrepreneurs, mentors, and investors to facilitate project development and growth. Endeavor focuses on assisting Ukrainian entrepreneurs in overcoming challenges, such as recruiting talent, setting up abroad, and preparing for mergers and acquisitions. The aim is to accelerate the growth of businesses in Ukraine and leverage the country’s business potential.
The Ukrainian government plans to continue supporting the state-run telethon, known as “Yedyni Novyny,” until the end of the war. Despite criticism from the European Commission for monopolizing television coverage and stifling dissent, the telethon was created during wartime to consolidate TV channels and counter Russian influence. Following martial law, the focus will shift to sustainable media infrastructure development. In other news, Ukraine’s gas production reached its highest level since the invasion, and the country signed agreements with the World Bank for small business support and green initiatives.
Ukraine’s proposed 2025 budget, which allocates approximately 26% of GDP to defense and military spending, passed its first reading in parliament. The budget prioritizes security and defense, reflecting the country’s commitment to strengthening its military capabilities. Additionally, discussions with European firms to replace Russian gas flows through Ukraine have not resulted in an agreement, and the National Bank of Ukraine has maintained interest rates at 13% to address inflation and pro-inflationary risks. Overall, Ukraine remains focused on defense, economic development, and technological advancement amidst ongoing challenges and opportunities.
