Ukraine improves its position in Doing Business 2017 ranking

Investing in Ukraine: Ukraine improves its position in Doing Business 2017 ranking

This article discusses the recent #World Bank Doing Business 2017 #ranking and #improvement of #Ukraine’s #positions.

Visit our website if you are interested in #doing business in Ukraine or looking for new #investment opportunities

The President of Ukraine announced that the in 2017 World Bank Doing Business ranking Ukraine improved its position and climbed to 80th place. We note that in the last such ranking Ukraine was rated at 83rd place.

The President highlighted that Ukraine has made an incredible progress since 2011, when it was rated on 150th place. In addition, in 2017 ranking Ukraine significantly improved its positions in taxation (was 107th, became 84th), jumped on 18 positions in matters of insolvency regulation and protection of investors’ rights, and on 17 positions regarding enforcement of contracts. The President attributes such improvements to successful reforms in the country.

We note that earlier this year, the Ministry of Economic Development and Trade of Ukraine published the list of measures, implementation of which would allow Ukraine to improve its standing at the annual World Bank Doing Business ranking.

According to the programme, throughout 2016 Ukraine must have had implemented 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.

In addition, 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 2018 Ukraine will enter into top-20 countries of the World Bank Doing Business ranking.

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