Ukraine has climbed 28 spots to 112th out of 189 economies in the World Bank's annual Ease of Doing Business ranking (Doing Business 2014) thanks to reforms in the sphere of dealing with construction permits, registering property and getting credit.

Ukraine improved the most in the ease of doing business last year, according to an annual survey published on Tuesday.

According to the survey, Ukraine was the top improver in 2012/2013, implementing reforms in eight of the ten areas measured by Doing Business, and is now between Lebanon and Papua New Guinea in terms of the ease of doing business.

According to World Bank experts, Ukraine made the most considerable progress in the area of dealing with construction permits, climbing 145 positions to 41st.

Ukraine also climbed 61 spots in the area of registering property, to 97th. In getting credit the country moved from 24th to 13th position.

In terms of other criteria there was either a small improvement (up four spots in paying taxes and up three spots in starting a business), no change (in trading across borders and enforcing contracts), or even a worsening of the results (down one spot in protecting investors, down two spots in getting electricity and down five spots in resolving insolvency).

As a result, Ukraine remains one of the world's outsiders in sub-ratings in terms of getting electricity (172nd), paying taxes (164th), resolving insolvency (162nd), trading across borders (148th) and protecting investors (128th).

Singapore tops the Ease of Doing Business ranking for the eighth consecutive year. The top ten also includes Hong Kong, New Zealand, the United States, Denmark, Malaysia, South Korea, Georgia, Norway and the United Kingdom. Chad is the last country on the list.

Russia climbed 19 spots to 92nd, Belarus one spot to 63rd, Kazakhstan three spots to 50th, and Moldova eight spots to 78th.