Doing Business in Ukraine: Ukraine climbed to 83rd position in world rating

According to the World Bank Doing Business rating, which annually assesses conditions of doing business, Ukraine moved from 96th to 83rd position. In 2015 Ukraine managed to improve its indicators in several categories.

Thus, Ukraine showed a positive development in the area of business registration. This is mainly because of implementation of online registration procedures and abolishment of registration fees. In addition, Ukraine also improved its ratings in the area of investor protection.

Nevertheless, under some categories, such as dealing with construction permits, transnational trade and taxation, Ukraine remained to be placed at quite low positions of the rating.

Economic Development and Trade Minister of Ukraine Aivaras Abromavicius said that two years ago the country was 112th, and the current rank shows that it is moving in the right direction.

"Only 82 countries are to be outstripped," the minister said.

He said that the report covers up until H1 2015 and it does not reflect many improvements made in H2 2015. The minister said that the current government started working on December 2, 2014 and the ranking reflects its work only for six months.

Ukraine is 30th in starting a business out of 189 economies. Ukraine has made starting a business easier by reducing the time required for VAT registration and by eliminating business registration fees.

In addition, Ukraine climbed from 185th to 137th in getting electricity: today, it takes 263 days to connect businesses to power lines.

 

The country fell from 43rd to 98th in enforcing contracts and from 70th to 140th in dealing with construction permits.