Ukraine jumps 25 places in World Bank Doing Business rating

Ukraine was the top advancer in the Doing Business-2014 report published by the World Bank and International Financial Corporation, which noted progress in 8 out of 10 categories. Ukraine now ranks 112 out of 189 countries evaluated by the annual report, which was released on October 28. It mentions easier conditions for starting and shutting a business, reduced construction permit requirements, improved access to credit and a simplified process for registering real estate.

Alexander Paraschiy: Ukraine’s improved ranking reflects newly enacted legislation and regulations. Still, the legislation approved by authorities won’t necessarily take effect. In fact, Ukraine has many good laws that ensure the best business practices but the government has problems enforcing them. For instance, critics claim the reduced number of licenses has been replaced by higher bribes for the remaining few. Starting a business has not been a problem for a long time. The main problem in Ukraine is abuses committed by law enforcement bodies and tax authorities. Against this backdrop, it’s encouraging to see Ukraine’s improved position in this respected rating but the ability to do business hasn’t show any noticeable improvement on a practical level.