Ukraine moved up in the World Bank’s rating of Doing Business to #64. But Ukrainian prime minister Denis Shmyhal, who was appointed in March 2020, thinks that a position in top-30 is achievable in near future.
Ukraine to improve the ease of doing business
Ukraine has the lowest wages in Europe, but this may change soon.
The world’s tech giant Apple registered a subsidiary company in Ukraine, Finance.ua reported on 26 May 2020.
The head of “Apple Ukraine” Roman Gumenyuk confirmed that the newly registered company is part of the worldwide group of the brand. The company was included in the register on 15 April 2020 with Kyiv (Kiev) being the official place of registration.
That’s certainly a good news for the government of Ukraine that is set to attract capital investment from foreign corporations.
This year Ukraine is rated #64 in the global rating of Doing Business by World Bank out of 190 countries in the review, on the results of 2019. It’s an improvement by 7 points as compared to the year before.
In 2012 Ukraine was rated at #150.
“Our goal is top-30,” Shmyhal confirmed. One of the things that needs to be come is to provide the necessary financial resources for the business, especially small and middle sized companies.
The rating of Doing Business by World Bank is based on 10 key indicators that are used to analyse economic results and prospects. The rating is viewed as a key guidance by global investors.
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