The Republic of Belarus has advanced 13 positions to rank 44th in Doing Business Ranking-2016. This is the latest data of the World Bank’s research. Today Belarus occupies 44th place in terms of doing business, one of the most powerful positions in the CIS. Kazakhstan (41st place) and Armenia (35th place) are ahead of the Republic, Russian is seven positions lower. There are 189 countries in all.
The report provides a ranking of countries on key aspects of legal regulation of business activity for national companies. There are 10 main indicators: starting a business, dealing with construction permits, getting electricity, registering property, and the others.
Belarus has showed a significant improvement on the conditions of starting a business, rising by 28 points and now ranks 12th on this index. Also the position of Belarus has improved on the following indexes: dealing with construction permits (by 17 points), getting electricity (by 59 points), protecting minority investors (by 37 points), international trade (by 120 points).
|
Country |
Ranking |
Registering property |
Dealing with construction permits |
Getting electricity |
Registering property |
Getting credit |
|
Belarus |
44 (57) |
12 (40) |
34 (51) |
89 (148) |
7 (3) |
109 (104) |
|
Russia |
51 (62) |
41 (34) |
119 (156) |
29 (143) |
8 (12) |
42 (61) |
|
Kazakhstan |
41 (77) |
21(55) |
92 (154) |
71 (97) |
19 (14) |
70 (71) |
|
Armenia |
35 (45) |
5(4) |
62 (81) |
99 (131) |
14 (7) |
42 (36) |
|
Kyrgyzstan |
67 (102) |
35 (9) |
20 (42) |
160 (168) |
6 (6) |
28 (36) |
In Doing Business Ranking Belarus is on the leading 25th place among the EAEU members on international trade index, rising by 120 points, leaving far behind Russia (170th place), Kazakhstan (122nd place), Kyrgyzstan (83rd place) and Armenia (29th place).
The progress of Belarus in the field of labor relations has been noted in the World Bank Report. The amendments to the Labor Code of the Republic of Belarus have been introduced in regard to salary adjustment, labor arbitration, and overtime payment.
|
Country |
Protecting minority investors |
Paying taxes |
Trading across borders |
Enforcing contracts |
Resolving insolvency |
|
Belarus |
57 (94) |
63 (60) |
25 (145) |
29 (7) |
69 (68) |
|
Russia |
66 (100) |
47 (49) |
170 (155) |
5 (14) |
51 (65) |
|
Kazakhstan |
25 (25) |
18 (17) |
122 (185) |
9 (30) |
47 (63) |
|
Armenia |
49 (49) |
41 (41) |
29 (110) |
28 (119) |
71 (69) |
|
Kyrgyzstan |
36 (35) |
138 (136) |
83 (183) |
137 (56) |
126 (157) |
It should be noted that in assessing the situation of the country in Doing Business Ranking — 2016 new indicators that reflect the quality and effectiveness of business regulation have been taken into account. Thus, the index of construction quality control in Belarus is 12 points (0-12), with an average 11.4 for the OECD countries.
This year, Singapore becomes the country with the most favorable conditions for doing business; the second place is still being occupied by New Zealand. Third place goes to Denmark, which is ahead of Hong Kong.
The World Bank’s research is a benchmark for investors. Higher position in the rating makes a country more attractive for investment. The government faces a new challenge to strengthen the country’s position, and in the near future to hit top 30 countries with the best conditions for doing business.