Ukraine falls to 152nd place in Doing Business 2012 ranking.

By bne IntelliNews October 21, 2011
Ukraine has lost seven positions and fell from 145th to 152nd place in the Doing Business 2012 ranking, which is annually compiled by the World Bank (WB) and the International Finance Corporation (IFC), according to the website of the ranking. A new scoring system is used this year. Under the new system, Ukraine was 149th, rather than 145th in last year's Doing Business 2011 ranking. Among former Soviet countries, Georgia again took the highest place (16th). It is followed by Latvia (21st), Estonia (24th) and Lithuania (27th). EBRD forecasts difficulties with attraction of foreign investments. The European Bank for Reconstruction and Development forecasts difficulties for Ukrainian companies, related to attraction of foreign investments till May 2012, EBRD Director in Ukraine Andre Kuusvek has said. According to him, due to problems in the Eurozone countries that have emerged recently investors are cautious. Moreover, performing of IPOs by Ukrainian companies on exchange floors of Europe in the nearest future may be impossible. Kuusvek admitted that next year, EBRD financing for the private sector in Ukraine will be at the level of the current year: for today, this is about USD 800mn. In 2010 against 2009, the EBRD cut the volume of its investments in Ukraine from USD 1.5bn to USD 1.3bn.

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