Ukraine has increased its performance in the World Bank's Doing Business ranking-2019, with a total rating of 190 economies, rising from the 76th to the 71st position. And in the ranking Dealing with Construction Permits Ukraine has risen from the 35th to the 30th position! This was announced by Vice Prime Minister/ Minister of Regional Development, Construction, Housing and Utilities Hennadii Zubko.
According to him, last year in the ranking not all launched positive changes were taken into account. We are talking about the abolition of the unnecessary procedure for the receipt of technical specifications from the SES (State Emergency Service) for fire safety by the builders. From now on, these requirements are obtained along with architectural and construction requirements. Moreover, the introduction of a mandatory requirement about the higher education of the detailed engineering contractors and engineers of technical supervision, which improves the quality of control is another improvement which already yields result.
"The position of Ukraine in the TOP-30 in the topic Dealing with Construction Permits this result is primarily a key indicator for investors and increasing of inflow of foreign investments into the country. Ukraine is undergoing reforms, and we are still not ready to rest. Deregulation of business processes in Ukraine, in particular in the construction sector, will be continued. We are planning to further improve our performance in the Doing Business ranking and hold the bar high", stressed Hennadii Zubko.
According to experts from the World Bank, one point in the overall Doing Business rating allows the country to leverage up to USD 600 million in investment.
It should be noted that the Doing Business is one of the most popular ratings of the World Bank, which characterizes the regulatory environment and the investment climate in the country. This is the result of an annual study that assesses the ease of doing business in 190 countries. The World Bank has calculated this index since 2003 on the following criteria: Starting a Business, Dealing with Construction Permits, Getting Electricity, Registering Property, Getting Credit, Protecting Minority Investors, Paying Taxes, Trading Across Borders, Enforcing Contracts and Resolving Insolvency.