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The President of Ukraine has signed the law on amendments to certain legislative acts of Ukraine on the simplification of business practices (deregulation), adopted by the Ukrainian parliament on February 12.

This has been reported by the press office of the Head of State.

"The main purpose of this law is deregulation of economic activity, bringing the legislation in certain fields in line with the EU legislation, which will allow Ukraine to improve its position in the World Bank's Doing Business rank.

This law simplifies procedures of opening and maintaining economic activities, reduces licensing and conciliation procedures and the influence of state authorities on business entities, increases investors' rights protection, and improves the mechanism of funding the activities of the State Registration Service," the press office notes.

The law specifically relates to the interests of central and local executive authorities, which are licensing bodies, and may have a positive impact on the development of the regions, reduce the risk of corruption, and positively affect the labor market.

FM-TV

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