Half of Ukraine’s business regulatory procedures will be canceled.

The interdepartmental working group conducting an accelerated review of the state’s regulatory instruments for economic activity recommended that the Cabinet of Ministers cancel a significant amount of the permits, licenses, declarations of approval, and other unnecessary documents the Ministry of Economy is responsible for. The recommended deletions amount to about 47% of the existing number of licenses and permits. The group’s objective is to expand Ukraine’s economic freedom and stimulate entrepreneurship development significantly, the Ministry of Economy says. The proposed instruments to be canceled relate to conducting business in the export and import of goods, investment and intellectual property, technical regulation, labor relations, and labor safety. In addition, it is also proposed to optimize (digitize, legal compliance with administrative policy, and simplification) another third of the tools within the Ministry of Economy’s competence.