Arseniy Yatsenyuk: Ukraine has improved in Doing Business ranking by 16 positions

"Despite the fact that we are having military economy and the Government with the whole country is actually in a state of war, we continue carrying out the reforms and changes which are much needed, so that over the certain period of time the economic situation could stabilize," said Prime Minister of Ukraine Arseniy Yatsenyuk at a Government’s session on Wednesday, January 28.

According to the senior officials of the International Monetary Fund and foreign creditors, he noted, "the main problem is, objectively, a war that was unleashed by Russia”, “But we will do what proves necessary to stabilize the economic situation, as sooner or later the war will end, peace will come. However, peace must be fought for by all means and tools, and not a single step backwards. As well as not a single step backwards in pursuing the economic reforms".

Arseniy Yatsenyuk stressed that the Doing Business in Ukraine ranking of the World Bank's had improved for Ukraine by 16 points, "If last year we demonstrated significant improvement, now – from the 112th to the 96th position."

He noted "very positive changes" in registering property ranking - an improvement by 29 positions, in the paying taxes system – by 49 positions, "Thus, our tax reform was assessed by the international community as a significant step towards improvement of the business climate in Ukraine".

However, the PM expressed concern in relation to the indicator of registration of business entities which “falls behind the showings of Europe and Central Asia”, "We have an overall term of the process of registration of entrepreneurial activity amounting 21 days while it is required to have 12".

Arseniy Yatsenyuk stressed the need to focus on these few showings “which will afford us through 2015 to grow by several dozen positions". He appealed to Minister of Economy Aivaras Abromavicius and Justice Minister Pavlo Petrenko to work on the issue to simplify the aforesaid procedure of registration. Moreover, the PM addressed Vice Prime Minister, Minister of Regional Development, Construction, Housing and Utilities of Ukraine Hennadii Zubko regarding a procedure of obtaining construction permits, "There we haven’t improved our performance either".

The third item of the Doing Business rankings is getting electricity, reminded Arseniy Yatsenyuk and appealed to the Minister of Energy and Coal Industry.

"The fourth is the responsibility of the National Bank – obtaining a loan. Here there are both rates and deposits," he stressed.

Arseniy Yatsenyuk commissioned the Ministry of Finance in synergy with the Ministry of Economy within the framework of the improvement of Ukraine in making business ranking to elaborate this issue with the National Bank.

Concerning trading across borders ranking, the Prime Minister noted, "It is obvious that in the state of war it is rather complicated to improve our international trade just by using administrative tools. But it will depend on how successful our negotiations with the western partners will be, including with the International Monetary Fund, [how successfully – ed.] we will stabilize the balance of payments and start to gradually revitalize the economy."

Another ranking issue - resolving insolvency, according to him, is also “directly linked to the overall economic environment and, certainly, to the war, "Here we also have negative showings, but not positive."

"However, in general, plus 16 points for the country at war is not so good as I would like, but not so bad," Arseniy Yatsenyuk summed up.