Membership in WTO and free trade agreement with the EU accelerates trade and provide another layer of protection on investments. Well-developed infrastructure, telecommunications and a legal system allow creating very favorable conditions for business in Ukraine. Jointly with Poland, Ukraine has been appointed to co-host UEFA EURO 2012 that is to bring the economic benefits, additional investments and improvements in infrastructure and quality of life, as well as tourism industry.
Recent implementation of the comprehensive Tax Code and a number of other legislative improvements are very positive steps. All these changes and measures helped to improve Ukraine’s ratings in the Economy Rankings – Ease of Doing Business of the World Bank. In 2011 Ukraine was ranked 145 that is two pints higher comparatively to the previous ranking. At the same time the country has been ranked 118, rising from 136 (+18) in the category “Starting a Business”. It is predicted that Ukraine will be ranked 112 in this category for the year 2012 that is very positive trend. Business set up in the country is becoming simpler and easier.
If your company operates in Ukraine or you are considering investment or setting up a business here, you might be interested in specifics of legal systems and taxation, specifics of conducting business in Ukraine. The reports Doing Business and Investing in Ukraine 2011 by PWC and Conducting Business in Ukraine 2011 by Baker & McKenzie will provide you with valuable insight into the Ukrainian market and make you better prepared to meet the challenges ahead.