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Ukraine climbs five more spots in Doing Business rating, to 71st

Ukraine has climbed five spots in the World Bank's ease of doing business ranking and currently occupies 71st position among 190 countries, Ukrainian President Petro Poroshenko has said.

"Ukraine has moved up five more spots in the Doing Business rating and took 71st place. Our figure in the 'trading across borders' section grew by 41 points and in the 'enforcing contracts' section by 25 points," the head of state wrote on his Facebook page on Wednesday.

Poroshenko noted that since 2014, Ukraine had achieved the greatest progress in the categories "paying taxes" (up 110 positions), "trading across borders" (up 70 positions), and "protecting minority investors" (up 56 positions). Ukraine ranks 30th in the world in the ease of "dealing with construction permits."

"Of course, we will not stop here. I know that we deserve a better place and we can do better," Poroshenko added.

Ukrainian Prime Minister Volodymyr Groysman, while commenting on Ukraine's moving up in the Doing Business rating, noted that the Ukrainian government continues to implement reforms and simplifies business.

"In the ease of doing business ranking for 2019, Ukraine has moved up five positions and took 71st place. This rating is one of the main ones investors are guided by. We continue to implement reforms, simplify doing business, eliminate unnecessary regulations so that entrepreneurs could easily start and run their business in Ukraine," he wrote on his Facebook page.