Yes, it is correct and normal English (American, at least) to say, "there is no denying" something that is true beyond dispute or that the speaker wants to assert is beyond dispute. I believe it would be used much more often in conversation, an oral presentation, or informal writing than in formal writing, where you would be more likely to see such phrases as, "it is true that," or "it is beyond dispute that," or perhaps, "it cannot be denied that . . . ."
You might also see "of course," as an introductory phrase with the same meaning. For example: "There is no denying that last year our economy was in serious trouble." "It is beyond dispute that last year . . . ." "Of course, last year . . . ."
(And by the way, the correct question is: "What would a better sentence be?" or "How would a better sentence be worded?" or "What is a better way to say this?" or "Is there a better way to say this?")
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