Russia can significantly improve position in the Doing Business ranking in 2017
Our country can significantly improve its position in the World Bank’s Doing Business ranking next year, says Mikhail Men, Minister of Construction, Housing and Utilities of the Russian Federation.
“I think that when the experts see the effect of our amendments to the current legislation, there is reason to say that next year we will witness further improvement of the position of Russia,” said Mikhail Men.
According to him, in the three years since the establishment of the Ministry of Construction, Russia has managed to climb up 63 positions in the ranking’s section devoted to obtaining construction permits.
Russia has advanced to 40th position in the World Bank’s Doing Business ranking 2017 as well as in the ranking of the International Finance Corporation (IFC); last year the country resided on 51th place (after adjustment – 36th).
Due to the indicator of Dealing with Construction Permits Russia climbed up four points and obtained 115th place.
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.
Doing Business 2017: Equal Opportunity for All, is a World Bank Group flagship publication, the 14th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies—from Afghanistan to Zimbabwe—and over time.
Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.