Ukraine expected to improve in Doing Business 2018 ranking

Ukraine expected to improve in Doing Business 2018 ranking
Doing business in Ukraine

This article discusses the recent programme of the Ministry of Economic Development and Trade of Ukraine which aims at improving of Ukraine’s rank at Doing Business 2018.

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The Ministry of Economic Development and Trade of Ukraine published the list of measures, implementation of which will allow Ukraine to improve its standing at the annual World Bank Doing Business ranking.

According to the programme, throughout 2016 Ukraine must implement the following measures: to create online service of registration of legal entities via Internet; to establish registration as VAT taxpayer simultaneously with registration of the legal entity; to expand possibilities of alternative dispute resolution; to impose limitation on the number of times and terms for adjournment of a court hearing; to provide a real time access to the State register of encumbrances over movable property; to adopt the law on protection of minority shareholders; and to lower down the number of days required for obtainment of the certificate of origin.

We note that earlier this year the Cabinet of Ministers of Ukraine published its resolution, which approves a roadmap for facilitation of doing business in Ukraine. As expected, following implementation of measures included in the programme, in 2017 Ukraine will enter into top-50 and in 2018 into top-20 countries of the World Bank Doing Business ranking. In addition, recently the Cabinet of Ministers of Ukraine published its action plan for 2016. The document includes 379 positions grouped in four sections, namely ‘Independent European state’, ‘Decentralization as strategy of national development’, ‘Care for everyone’ and ‘Favourable conditions for doing business’. The latter section provides for lifting of moratorium on sale of agricultural land starting from 2017.

We note that in accordance with the annual World Bank Doing Business ranking, in 2015 Ukraine managed to improve its positions by 13 spots and climbed to the 83rd place.

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