In Ukraine, systematic work is carried out to ensure a favorable business environment, in particular, through the implementation of a deregulation policy. This was stated by Prime Minister Denys Shmyhal on July 8 during the UkraineInvest Talks business forum in Vilnius, the Republic of Lithuania.

The Head of Government said that in the near future the Cabinet of Ministers of Ukraine plans to establish the Institution of the Deregulation Commissioner and to maximally simplify all permitting procedures and possible restrictions for business.

"Over the last four years, more than 6,500 regulatory acts have been revised within the framework of deregulation for their legality and relevance, and about 1,200 obsolete by-laws that negatively affected the business climate in the country have been repealed. This made it possible to reduce the expenses of business entities in various areas of economic activity on average to UAH 2 billion per year," said Denys Shmyhal.

According to the Prime Minister, the Government of Ukraine is putting into practice new approaches and initiatives, in particular in the field of business registration. Work is underway to ensure that business registration takes place in the shortest possible time.

"Today, this process takes less than a minute thanks to the Diia application and portal. 21 seconds is a record for business registration in Ukraine," the Head of Government said.

Apart from that, Denys Shmyhal emphasized that Ukraine shows significant achievements in terms of ease of doing business, moving in the ranking of Doing Business, from 112 to 64th position. The PM stressed that this is not the limit, because the goal of the Government is to enter TOP-30 in the ranking.