Russia goes up by 67 positions on construction in Doing Business ranking  


Russia ranked 48th in the world for the ease of obtaining a building permit, rising immediately to 67 positions, according to the World Bank’s annual report, Doing Business, RIA Novosti reports.

In the overall rating of favorable conditions for doing business, Russia climbed four points and ranked 31st among 190 countries.

According to a World Bank study, to obtain a permit for the construction of a reference warehouse in Russia, 15.1 administrative procedures will have to be completed (14.4 a year ago), which will take 193.8 days (last year – 239.4) and will cost the investor 1 , 2% of the total construction cost (a year earlier – 1.3%).

In terms of the simplicity of registering property, Russia ranked 12th in the world, without changing positions from last year. As before, according to the bank, it is possible to register property in the Russian Federation in 13 days, after going through four administrative procedures. At the same time, the cost of registration decreased from 0.2% to 0.1% of the value of the property, the report indicates.

The World Bank Doing Business report covers 190 countries. He examines regulatory standards that promote or hinder business development throughout the entire business cycle, including the creation of a company, business, foreign trade, payment of taxes, and the level of investor protection.

Source: RIA Novosti

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