28.10.15 13:21

Ukraine listed 83rd in Doing Business 2016 rating, - World Bank Group

The country has gone up from the 87th position in the 2015 list.

This was announced by the World Bank Group, Censor.NET reports.

The ease of doing business is evaluated by the Group under 10 criteria: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

According to the rating data, Ukraine has improved its position due to improvement in 'starting a business': it takes four procedures and seven days to register a business in Ukraine, with 10 days for Europe and Central Asia in average. Moreover, the procedure is by eight times cheaper compared to the region's average.

In the global ranking stakes, Singapore retains its top spot. Joining it on the list of the top 10 economies with the most business-friendly regulatory environments are New Zealand, in second place; Denmark (3); Republic of Korea (4); Hong Kong SAR, China (5); United Kingdom (6); United States (7); Sweden (8); Norway (9); and Finland (10), the World Bank Group informs.

In general, more than 60% of world's economies improved their business rules in past year, the Group reported.

Read more: Business in Ukraine can be registered within 24 hours from now on, - Cabinet
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