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FAVORABLE CONDITIONS FOR BUSINESS

One of the Government’s priority reforms is to create favourable conditions for doing business. To achieve this goal, the Government’s efforts are aimed at improving the regulatory environment (deregulation) along with the implementation of regulatory policy.

At the same time, the interaction of government agencies and the business community, leading civic associations, national and international organizations as well as scientists is extremely important to ensure the success of deregulation.

Deregulation provides for the removal of excessive regulatory restrictions and ineffective control procedures, cancellation of excessive licensing, outdated certification systems, monitoring, expert examinations and other restrictions for business.

By cancelling regulatory restrictions and inefficient procedures, the Ministry of Economy, together with other central executive authorities, not only reduces administrative pressure on business and combats corruption but also allows businesses to focus on their core activities.

1. At the initiative of the Ministry of Economy, the Government introduced and held 11 meetings (2016 – to date) on deregulation of economic activity aimed at eliminating inefficient and unjustified regulations or making changes in accordance with world best practices.

2. In addition, the Ministry of Economy updated and the Cabinet of Ministers of Ukraine approved the action plan on economic activity deregulation (order of the Cabinet of Ministers of Ukraine No. 1413 of 4 December 2019).

3. The Ministry of Economy makes every effort to ensure that business develops efficiently and dynamically.

Ease of doing business is a way to attract investment in the economy (both foreign and domestic) and an impetus for the appropriate growth of gross domestic product. The efforts of the Ministry of Economy in this area are aimed at improving Ukraine’s rank in the Doing Business ranking.

Measures to increase Ukraine’s rank in the Doing Business ranking are carried out within the framework of the action plan to implement best practices of quality and effective regulation reflected by the World Bank Group in the Doing Business ranking methodology (hereinafter referred to as the “Action Plan”) approved by order of the Cabinet of Ministers of Ukraine No. 1413 of 4 December 2019.

World Bank website

Regional ease of doing business ranking

4. The Ministry of Economy together with the Better Regulation Delivery Office (BRDO) has developed business cases for those willing to open their own business.

Business cases are step-by-step instructions that tell you what permits you will need to start a business. With the help of this electronic tool, answering a few clarifying questions, you may get your own checklist of tasks, namely: what documents need to be collected, how long each procedure will take, where to apply and more.

5. The Ministry of Economy and BRDO have developed an online RIA, which is a unique tool that allows civil servants and businesses to analyze the regulatory impact of regulatory legal acts not only qualitatively and effectively but also significantly reduces time spent for its conduct. In addition, auxiliary tools are available on the effective regulation platform: on-line calculators, M-Test, methodical materials, catalogues on public administration, statistical data, etc.