The Ukrainian government has decided to speed up business deregulation.

The government has created an interdepartmental group, which will rapidly revise state regulatory instruments for business to improve the country’s business climate, said Prime Minister Denys Shmyhal. He said that now in Ukraine, there are almost 1,000 instruments of state regulation for business: 528 permits, 224 licenses, 157 approvals, and dozens of declarations and certificates. There is currently the political will to reduce all this radically, the head of the government emphasized. The state policy of deregulation is one of the main elements of the practical implementation of Ukraine’s new development model and an inseparable component of European integration. In Ukrainian realities, deregulation is a necessary tool to radically improve the business investment climate, create new jobs and improve the quality of life, added Minister of Economy Yuliya Svyridenko.