Uzbekistan moves eight positions up in Doing Business rating
29/10/2014 10:14
Uzbekistan moves eight positions up in Doing Business rating
29/10/2014 10:14
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan improved its position in new ranking of Doing Business-2014 of the World Bank and International Financial Corporation, moving from 149th place in 2013 to 141th place in 2014.
Doing Business 2015: Going Beyond Efficiency finds that local entrepreneurs in 123 economies saw improvements in their regulatory environment in the past year. From June 2013 to June 2014, the report, which covers 189 economies worldwide, documented 230 business reforms—with 145 aimed at reducing the complexity and cost of complying with business regulations, and 85 aimed at strengthening legal institutions. Sub-Saharan Africa accounted for the largest number of reforms.
According to the report, Uzbekistan improved its position on such criteria as getting electricity (145 place, +3 positions), registration of property (143 place, +3), protection of minority investors (100 place, +18 position), paying taxes (118 place, +61) and enforcing contacts (29 place, +1).
At the same time, Uzbekistan worsened its positions on such categories as starting business (65th place, - 5 positions), receiving construction permits (149 place, -2) and receiving loans (104 place, - 5).
The report added that seven procedures required in Uzbekistan to register enterprise, which is higher than average in the Europe and Central Asia (5) and OECD member states (4.8). The registration term is 7.5 days in Uzbekistan against 12.1 days in Europe and Central Asia and 9.2 days in the OECD countries.
The report finds that Singapore tops the global ranking on the ease of doing business. Joining it on the list of the top 10 economies with the most business-friendly regulatory environments are New Zealand; Hong Kong SAR, China; Denmark; the Republic of Korea; Norway; the United States; the United Kingdom; Finland; and Australia.
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