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Ukraine removes 367 regulative barriers to ease doing business

Xinhua, November 24, 2016 Adjust font size:

The Ukrainian government said on Wednesday it has adopted a decision to abolish a total of 367 regulatory legal acts that have created obstacles for doing business in the country.

The bureaucratic regulations, some of which have been introduced before Ukraine's independence in 1991, were slashed in such areas as agriculture, telecommunications, energy and other sectors, said a statement on the government website.

"It is important for us to ensure that each businessman in Ukraine now feel more freedom than before," Ukrainian Prime Minister Volodymyr Groysman said in the statement.

The removal of administrative barriers is designed to help Ukraine in attracting foreign investment and improving its performance in the World Bank's Doing Business ranking, Groysman said.

He voiced the hope that the East European country, which currently ranks 80th in the latest Doing Business report, would advance by several dozens of positions in the next ranking. Endit