The economic effect of implementing the strategy of simplifying doing business will allow to almost double the country's gold and forex reserves, Minister of Economic Development and Trade Pavlo Sheremeta has said.
“The expected economic effect on the six key sectors of the economy will be about Hr 85 billion,” he said.
The minister also stressed that the reduction of corruption flows would provide an additional Hr 60 billion and cut the budget expenditure by Hr 16 billion.
Deregulation, in particular, is to be introduced in the six key industries: food, agricultural, construction, oil and gas, energy and information technologies.
The concept of simplifying doing business includes 1,000 deregulation initiatives and foresees the cancellation of licenses, permits, regulations, certifications, reducing the frequency of inspections, as well as the elimination of departments and government regulatory authorities.
It is expected that the overall economic effect will be about Hr 170 billion by 2020. The implementation of the first 14 initiatives will allow to eliminate corruption flows in the amount of Hr 8-9 billion per year.
