Ukraine climbs 61 places in Doing Business ranking

"Ukrainian economy needs huge investments and new jobs to accelerate growth. Over the past five years, Ukraine has climbed 61 places in World Bank's Doing Business ranking," President of Ukraine Petro Poroshenko said while delivering the annual address to the Verkhovna Rada on the internal and external situation of Ukraine, an Ukrinform correspondent reports.

The laws that have direct impact on improvement of investment climate – laws on privatization, currency, limited liability companies and double liability companies and single window environment for customs – were adopted in only a year, the President recalled.

As the Head of State assured, investors have noticed the results of the anti-corruption strategy, such as the introduction of ProZorro e-procurement system, electronic automatic VAT refund, eradicating corruption in gas sector, creation of the High Anti-Corruption Court and the like.

According to Poroshenko, the experts estimate the economic effect of these anti-corruption measures at $6 billion annually.

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