Shuvalov highly praised advance of Russia in Doing Business ranking


40th place of Russia in the Doing Business ranking is a great achievement for the country, told Igor Shuvalov, the First Deputy Prime Minister, during the seminar on implementation of comprehensive development program for single-industry towns.

“This is a great achievement,” commented Shuvalov on improving Russia’s position in the ranking.

He recalled that the task of improving the investment climate and strengthening relevant institutions was set by the President Vladimir Putin.

“Moving from 120th place now we found ourselves on the 40th – this is a great serious work,  the work is very heavy, it is carried out both at the federal and at the regional levels,” noted Shuvalov.

“We still have room for improvement: we need to boost up to the twentieth position as quickly as possible. Then the bar will be raised even further for us, but it is a good result,” concluded the Vice Premier.

Russia has climbed up to 11th position in the ranking of the comfort of Doing Business 2017 conducted by the World Bank as compared to the previous year, and now it resides on 40th place.

“In recent years, Russia has been active in carrying out reforms in various aspects of business regulation,” commented on the report the World Bank Director for Russia Andras Horvay, reports Reuters.

The World Bank emphasized the Russia’s success in the field of business registration and enforcement of contracts.

New Zealand, Singapore and Denmark took the first three places in the ranking. Somalia, Eritrea and Libya tailed the list with 190th, 189th and 188th place respectively.

 Rambler News Service