Russia advances by 11 points in World Bank’s Doing Business ranking
Russia has boosted up from 51th to 40th place in the international Doing Business ranking carried out by the World Bank this year.
Experts note that the immediate rise by 11 points was made possible due to economic reforms, effects of implementation of the “road maps” of the “National Entrepreneurial Initiative”, carried out by the Agency for Strategic Initiatives. The greatest upturn was shown in the fields of Starting a Business and Trading Across Borders.
It is to be recalled that in one of president’s May decrees Vladimir Putin has instructed to increase Russia’s position in the ranking to 50th in 2015 and 20th in 2018.
In the last year ranking of Doing Business-2016 Russia has also risen by 11 points: from 62th to 51th place among 183 countries. A year earlier, Russia ranked 62-th place, climbing to it from 92th. Last year, the World Bank stressed the Russian success in such areas as introduction and improvement of online state services, improving of regulation on utilities connection, reducing the terms of the property transfer, reduction of certain taxes, improving procedures for chattel mortgage.
For the tenth time in a row Singapore has headed the Doing Business ranking. The second and third positions of the ranking are occupied by New Zealand and Denmark. The top 10 states with the best business climate also include South Korea, Hong Kong, UK, USA, Sweden, Norway, Finland. On the post-Soviet area Estonia was acknowledged as the most favorable country for business (16th place). Lithuania and Latvia reside respectively on the 20th and 22th positions, Georgia and Armenia – on the 24th and the 35th, Kazakhstan – 41th, Belorussia – 44th.