Ukraine becomes world leader in regulatory reform - World Bank

This is stated in an annual joint report by the World Bank and the International Finance Corporation, entitled Doing Business 2014, which was released in Washington on Monday, Ukrinform reported.

According to the document, this year Ukraine showed itself as a world leader in regulatory reform. Nevertheless, the problems requiring a solution still remained. Ukraine occupies 112th place among 189 countries in the Ease of Doing Business ranking.

Ukraine was the top improver in 2012/2013, implementing reforms in eight of the ten areas measured by Doing Business. Ukraine topped the list of countries that improved the most in previous years. Apart from Ukraine, the top five also includes Rwanda, Russia, Philippines and Kosovo.

In terms of concrete areas, Ukraine climbed the most in the area of dealing with construction permits - from 186th (the situation was worse last year only in Albania and Eritrea) to 41st position. The authors of the report believe that now

Ukraine's reforms can serve as an example for other countries. "In a region in which many economies still have cumbersome construction permitting procedures, Ukraine's reforms can serve as an example for others," reads the document.

The country also advanced significantly in the area of registering property - from 158th to 97th spot. There were also some positive changes in the areas of getting credit (up 11 spots), paying taxes (up four positions) and starting a business (up three spots).

However, there was no improvement in the area of protecting investors, in which Ukraine lost one position, from 127th to 128th place.

As reported, Ukraine ranked 137th in last year's Doing Business report in terms of the ease of doing business. However, the figures were later adjusted, and the country was placed in 140th position.

Ukraine was 152nd in the report for 2012, 145th in the report for 2011, and 147th in the report for 2010.

Source: UKRINFORM