Russia sustains previous position in construction in Doing Business ranking

02.11.2017

Russia sustains previous 115th place in annual ranking Doing Business by World Bank in “Obtaining construction permit” category. At the same time Russia gone up by 5 positions in total ranking and took 35th position among 190 countries.

According to World Bank materials it takes 14,4 procedures (13,7 last year) and wait 239,4 days (239,3 last year) to get the constriction permit for standard model in Russia. It is supposed that the cost of passage of all administrative barriers is 1,3% of the total piece of standard model (1,3% in 2016)

In “Registration of property” category of Doing Business ranking Russia went done by three positions – from 9th to 12th place. You have to pass 4 procedures (one extra comparing to 2016) and spend 13 days (two less than year ago) to register the property. The cost is 0,2% of the price of the property.

“Russia has demonstrated the best dynamic over the past 6 years. “We have entered TOP-30 on much indicators of the ranking. It is concerned a registration of enterprises, crediting, property and agreements” – told Maxim Oreshkin, the head of the Ministry of Economic Development and Trade, during the meeting dedicated to results of the ranking.

At the same time he stressed out that two indicators are extremely weak. “It is construction permit, where we are on 115th place and international trade, where we are 100th place” – explained Oreshkin.

According to him next year the Government will continue reforms to implement the best practices for investment climate including digital technologies during the issuance of construction permit. “We should become the best practice example for other countries”, – told the Minister

The Doing Business ranking by World Bank and International finance corporation (IFC) covers 190 countries. It examines regulatory standards that facilitate or impede the development of business throughout the entire business cycle, including setting up an enterprise, doing business, carrying out foreign trade activities, paying taxes, as well as protecting the rights of investors.

Source: RIA Novosti