Ukraine has risen seven places to 64th in the World Bank’s 2020 Doing Business ranking.
This was announced by Ukraine’s Prime Minister Oleksii Honcharuk, the CFTS portal reports, citing the Interfax Ukraine news agency.
"Ukraine has risen seven places to 64th among 190 countries in the 2020 Doing Business ranking," he said.
The prime minister emphasized that this sends a positive signal to Ukrainian entrepreneurs and gives a green light to foreign investors.
"However, this is only the beginning because we continue to work in this direction. The Bankruptcy Code was enacted three days ago, the law on stimulating investment activity was enacted a few weeks ago, and we are activating deregulation processes," he said.
Citing data from the relevant World Bank report, the government portal said that Ukraine improved its performance in six out of the 10 indicators that World Bank experts take into account when determining the ranking in 2019.
Ukraine made the biggest improvement in the “protecting minority investors” component of the ranking (an improvement of 27 points) and the “dealing with construction permits” component (10 points). In addition, the improvement of Ukraine’s ranking was influenced by positive changes in the “getting electricity,” “trading across borders,” “registering property,” and “getting credit” components.
As the CFTS portal reported, Ukraine’s infrastructure ranking remains unchanged at 57th in the World Economic Forum’s 2019 Global Competitiveness Index.