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Ukraine Ranks 96th Among 189 Counties On World Bank's Doing Business Index

Ukraine Ranks 96th Among 189 Counties On World Bank's Doing Business Index

Meanwhile, Georgia ranks 15th.

Ukraine ranks 96th among 189 counties on the World Bank's index Doing Business 2015, the WB said.

"According to results of a new report of the WB group, in 2013 and 2014 Ukraine continued improving conditions of doing business for local entrepreneurs despite the economic crisis and political shocks. Ukraine's position on the Doing Business ranking has improved, factoring in wider sets of certain measures in the report, and Ukraine moved from rank 112 last year to rank 96," it said.

Georgia ranks 15th, Poland 32nd, Romania 48th, Belarus 57th and Moldova 63d.

Russia this year rose from 62nd place to 64th, having changed positions with Cyprus.

The report underlines and important progress achieved in 2013 in the sphere of registration of right of ownership and taxation, on these two measures Ukraine improved its standing by more than 25 notches.

In frames of this initiative the number of tax payment was lessened from 28 to five and the time spent on paying taxes shortened from 390 to 350 hours.

Singapore tops the Doing Business ranking.

On top ten are New Zealand, Hong Kong (People's Republic of China), Denmark, Republic of Korea, Norway, USA, Britain, Finland and Australia.

As Ukrainian News earlier reported, Ukraine ranked 112th of 189th on the Doing Business 2014 index.

Every year the WB publishes Doing Business rankings.

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