Tuesday, January 5, 2016

Cabinet approves measures to increase Ukraine's position in Doing Business rating

January 5th 2015, the Embassy has expressed its concerns to the Coca-Cola company and the U.S. Department of State about the posting in social media by Coca-Cola’s Russian office of a map of Russia that included the illegally occupied Crimea. 

The Embassy has expressed its concerns to the Coca-Cola company and the U.S. Department of State about the posting in social media by Coca-Cola’s Russian office of a map of Russia that included the illegally occupied Crimea. The Embassy emphasized that Coca-Cola’s actions violate the official U.S. position condemning Russia’s illegal occupation of Crimea, which is and has always been an integral part of Ukraine, and urged the company to immediately correct the mistake.  

The Cabinet of Ministers of Ukraine has approved a list of measures for 2016 the implementation of which aims at increasing Ukraine's positions in the World Bank's Doing Business rating.


The list is approved by cabinet resolution No. 1406 of December 16, 2015 and posted on its official website.
The Justice Ministry is instructed to create the service for registering companies online within 24 hours, introduce the registration of value added tax payers synchronously with the registration of companies.

It is planned to reduce time and spending on the enforcement of court rulings, introduce the relaxed mechanism for hearing cases under minor financial claims and expand the opportunities for the alternative settling of disputes.

The cabinet plans to draw up a bill that would allow borrowers to trust ownership rights to property to creditors to secure the fulfillment of the claims of the creditors (ownership right is returned to the debtor when the debtor fulfills liabilities to the creditor).

The government also plans to introduce free access to the state register of movable property pledges and set the clear time limits for the moratoriums to satisfy claims of creditors for bankruptcy procedures.

The cabinet also approved measures to increase Ukraine's rating in the following areas: protection of investors, recovery of a commercial insolvency, procedures to get connected to the electrical grid, building regulations, registration of a property, international trade and tax regulations.


As reported, Ukraine climbed from 87th to 83rd position in Doing Business-2016.

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