EBRD to Help Ukraine Get into Top-100 of Doing Business Ranking
KYIV, Ukraine, February 7, 2013 /PRNewswire/ --
The European Bank for Reconstruction and Development shares Ukraine's ambitions to be among the top-100 countries of the World Bank's Doing Business ranking and would like to help Ukraine achieve this goal, said the President of EBRD, Sir Suma Chakrabarti, after the meeting with the President of Ukraine, Viktor Yanukovych. The EBRD President said that his bank is ready to keep financing projects in Ukraine at a previous rate - about EUR 1 billion per year.
This goal is commendable but it requires months and years of hard work, noted Sir Suma. Besides, Ukraine has to provide a good business climate and improve customs, tax and judicial systems as well as solve the corruption issue, stressed the banker.
The EBRD president remains sure this goal requires trilateral efforts of Ukrainian government, business entities and EBRD together with other international financial organizations. Concurrently, the European banker said that after a series of meetings with Ukrainian state officials he had felt the readiness of Ukrainian government to work on solving problems, reported Ukrinform.
Importantly, in 2012 Ukraine climbed 15 spots to reach the 137th place on the ease of doing business list. The country was able to improve its ranking in the World Bank list due to a set of reforms. As noted in the Doing Business 2013 report, released in October 2012, Ukraine made it easier to start business, introduced tax relief measures, and improved property registration procedures.
In addition, Ukraine dropped the minimum capital requirement for company incorporation, as well as the requirement to have incorporation documents notarized. Other reforms included the alleviation of property registration and paying taxes procedures, the introduction of an online ﬁling and payment system for tax payers, mandatory for medium-size and large enterprises. Still, it is quite difficult to obtain a construction permit, get electricity, and resolve insolvency in Ukraine, reads the World Bank report.
The European Bank for Reconstruction and Development continues to be the largest financial investor in Ukraine. As of January 1, 2013 the Bank has committed more than EUR 8.2 billion (USD 10.7 billion) in 318 projects. In 2012, the EBRD has invested EUR 934 million (USD 1.2 billion) in 35 projects in Ukraine. About 71 percent of the investment went into private companies, 29 percent towards projects in the public sector.
SOURCE Worldwide News Ukraine
More by this Source
L'Ukraine et les États-Unis poursuivent ensemble la politique de destruction des missiles
22 May, 2013, 16:11 BST
Die Ukraine und die USA verfolgen gemeinsam Raketenvernichtung
22 May, 2013, 16:11 BST
Die Entscheidung für Europa ist für die Ukraine unabänderlich - Leiter der EU-Delegation
22 May, 2013, 15:43 BST
Journalists and Bloggers
Visit PR Newswire for Journalists for releases, photos and customised feeds just for Media.
View and download archived video content distributed by MultiVu on The Digital Center.
Until you hear the full story, why would you invest?
Making sound investment decisions can be difficult. You can study the figures and read the analyst recommendations, but how do you really know the story behind company strategy? How can you get answers to your questions?
The Private Investor Network helps you to reach an informed decision on the stocks you pick. Interactive presentations from UK listed companies give you the kind of access previously enjoyed only by the big fund managers. And with keynote speeches from industry experts, downloadable content and an investor lounge where you can swap tips with your peers, you can invest with confidence.
For more information, and to register for FREE, visit us at www.privateinvestornetwork.co.uk
Get content for your website
Enhance your website's or blog's content with PR Newswire's customised real-time news feeds.
Contact PR Newswire
Send us an email at MarketingUK@prnewswire.co.uk or call us at +44 (0)20 7454 5382
Become a PR Newswire client
Request more information about PR Newswire products & services or call us at +44 (0)20 7454 5382