Operating licence regulations to be slashed

Ukraine President, Viktor Yanukovich, has promised to halve the number of permissions required to be obtained by investors to open a business in Ukraine.

“This year we plan to reduce the number of licences which create barriers to the establishment of new companies by around 50%,” said Yanukovich. He added that the Committee for Reforms had already approved a Programme of Economic Reforms and the basis on which they would be introduced.

The Prime Minister of Ukraine Mykova Azarov explained that there are currently 2.28 thousand activities which must be carried out and complied with by an investor in order to get a licence to start a business in the country. “I asked the members of the Ministers and Special Committees to give their proposals for ways in which the permission process for investors could be simplified. But no one proposed to reduce the number of licences,” commented Azarov.

After close analysis of the list provided (categories to be licensed), the total number was then reduced, and then reduced a second time. “I think that we should have rigorous regulations for those areas where there is potentially a danger to people’s health and safety. All the rest should be able to operate without undue interference by the authorities,” said Azarov.