Ukraine ranks 128th in the World Bank's ranking on the ease of doing business. This is stated in a report by the World Bank and the International Finance Corporation (IFC is part of the World Bank Group). In 2005/2006, World Bank experts studied the legislation of 175 countries for the simplicity of conditions for doing business.
"The costs of starting a business (in Ukraine) decreased by half over the past year, and the registration period for a new enterprise decreased by one week," Simeon Djankov, head of the World Bank and IFC Doing Business study, told journalists on Wednesday. He presented to journalists the annual World Bank and IFC report "Doing Business 2007: How to reform."
The list of 30 leading countries is headed by Singapore, followed by New Zealand, the USA, Canada, Hong Kong (China), Great Britain, Denmark, Australia, Norway, Ireland, Japan, Iceland, Sweden, Finland, Switzerland, Lithuania, Estonia, Thailand, Puerto Rico, Belgium, Germany, the Netherlands, Korea, Latvia, Malaysia, Israel, Saint Lucia, Chile, South Africa and Austria.
Ukraine in the overall ranking of countries by ease of doing business rose by 4 points - from 132nd place in 2005 to 128th place in 2006.
In particular, Ukraine ranks 101st in terms of starting a new business, 107th in licensing, 107th in employing workers, 133rd in registering property, 65th in getting credit, 142nd in protecting investors, 174th in paying taxes, 106th in trading across borders, 26th in enforcing contracts, and 139th in closing a business.
Russia moved up one position and took 96th place in ease of doing business.