Ukraine

President signs law simplifying doing business in Ukraine

2 april 2015 | 17:00

The Ukrainian legislation will be adjusted to correlate with the EU legislation. 

порошенко закон подпись
Poroshenko has signed a law on deregulation of the economy and business
President of Ukraine has signed the Law "On amendments to some legislative acts of Ukraine on facilitating business (deregulation)," reports the press service of the Ukrainian president.

The main purpose of this law is to deregulate the economic activities, which should enable Ukraine to increase its position in the "Doing Business" rating. Also, the deregulation of Ukrainian legislation will be adjusted to correlate with the EU legislation.

It also increases the responsibility of remaining licensing centers for failure to implement their duties.

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In particular, the reduction of functions and improving of the administrative regulation procedures of the economy, introduction of transparent and unique rules for all economic actors and conditions to improve their protection.

The law also demands to publish, at the official website of the central executive body, decisions to terminate legal entity.

Earlier, the Minister of Economy of Ukraine Ayvaras Abromavichus announced that he would carry out "guillotine" for unnecessary regulatory authorities in order to simplify doing business in Ukraine.

Source: ZN.UA

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