Ukraine plans to rise in the Doing Business rating by 10 positions

The Cabinet of Ministers has set a goal for Ukraine to rise by at least 10 points in the Doing Business rating by 2020. This was reported by the press service of the Ministry of Economic Development on its Facebook page.

“We have set ourselves a goal - by 2020 to rise by at least 10 points in the Doing Business rating. For this, the Ministry of Economic Development is constantly coordinating initiatives designed to simplify the conditions for doing business in Ukraine,” the message says.

As noted, at the 8th deregulation meeting of the government, 149 outdated acts of 1993-1997 were canceled. This will be credited by World Bank experts in the next Ease of Doing Business ranking.

In 2018, as part of deregulation, the government simplified the business environment for 100 thousand retail entities, as well as about 1,000 companies and more than 10,000 individual entrepreneurs.

In Ukraine, from January 1, 2019, more than 90% of Soviet GOSTs have been declared invalid, and the rest will be valid until January 1, 2022.

In the overall Doing Business-2019 rating, Ukraine took 71st place among 190 countries - five positions higher than last year.