World Bank notes improvement in Ukraine's doing business ranking

In the past year, Ukraine was among the ten countries improving the most in the ease of doing business.

Such an estimate was given in an annual report of the World Bank and the International Finance Corporation, entitled «Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises,» which was published on Monday, October 22.

As for Ukraine, the report highlights such areas of reforms on business regulation as starting a business, registering property and paying taxes. In particular, the report says that Ukraine reduced or eliminated the minimum capital requirement for company incorporation, as well as the requirement to have company documents notarized.

In the ranking on the ease of doing business, Ukraine climbed to 137th position (compared with 152nd spot in the report for 2012, and 145th and 147th places in the reports for 2011 and 2010). The ranking in this report includes 185 countries.

Over the past year, Ukraine has risen most in the ranking of starting a business - to 50th place from 112th last year, and has made notable progress in the registration of property - to 149th place from 166th, and in paying taxes it rose to 165th place from 181st. In the ranking of getting electricity, Ukraine moved to 166th place (from 169th spot in the report for 2012). In getting credit Ukraine occupied 23rd place, and in enforcing contracts it moved to 42nd spot.

Ukraine is 183rd in dealing with construction permits (180th in the report for 2012), 117th in protecting investors (111th), 145th in trading across borders (140th), and 157th in resolving insolvency (156th).

Adapted from Ukrinform


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