Ministry of Justice, activists: Adoption of seven laws by May 1 will improve Ukraine’s position in the Doing Business ranking

Ministry of Justice, activists: Adoption of seven laws by May 1 will improve Ukraine’s position in the Doing Business ranking
April 22, 2016.

If seven laws transferring a number of legal procedures online are adopted by May, Ukraine has chances to take higher position in Doing Business rating of the World Bank.

Kyiv, April 22, 2016. In 2017 Ukraine will be ranked in the Doing Business top 50, if the Parliament adopts seven laws by May 1, stated the representatives of Ukraine’s Ministry of Justice and social activists at a press briefing at Ukraine Crisis Media Center.

“We have singled out a set of draft laws that are currently ready for adoption. The Parliament can technically and legally consider and adopt them by the end of May. This period is critical, because the Doing Business rating methodology takes into account innovations introduced as of June 1; they form a research position for the next year,” explained Anton Yanchuk, the Deputy Minister of Justice of Ukraine.

We talk about the draft laws regulating the activities in the field of bankruptcy, mediation, legal procedure, introduction of private law enforcement institution, e-justice, improvement of procedures for seizure of bank accounts and so on. “The adoption of these laws will give a very important signal to foreign investors, because now the judicial system receives a lot of criticism, as only 6 percent of judgments [in terms of debt collection] are satisfied,” explained Andriy Yerashov, Project Manager at NGO EasyBusiness.

Only two out of these seven draft laws have passed their first readings. The rest draft laws either are pending in the committees or will be revoked and re-submitted by the Cabinet of Ministries (for purely bureaucratic reasons, due to the change in the government). However, the participants in the press briefing do not consider this situation an obstacle to rapid adoption because these draft laws have been discussed with all stakeholders. A political will – that’s all it takes for their adoption.

Doing Business rating is an indicator of the quality and availability of business in the country. The position of the country is determined by the World Bank experts through an anonymous survey of entrepreneurs by 10 indicators of ease of doing business. Each year they survey 89 countries. According to experts, improvement in the Doing Business rating positions provides a country with additional 150-300 million USD investment for each position.

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