Uzbekistan holds 87th place in Doing Business 2017
26/10/2016 16:27
Uzbekistan holds 87th place in Doing Business 2017
26/10/2016 16:27
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan took the 87th place in new ranking of Doing Business 2017 of the World Bank and International Finance Corporation (IFC).
Uzbekistan was also on the 87th place in last year’s report. World Bank and IFC revised ranking and moved Uzbekistan from 87th place to 82 place in Doing Business 2016. This means that Uzbekistan slipped five places in new ranking of Doing Business 2017.
According to the report, Uzbekistan improved its position in ranking on such criteria as property registration (75th place, +6 positions), protecting minority investors (70th place, +8 positions), paying taxes (138 place, +1) and trading across border (165th place, +1 position).
At the same time, Uzbekistan’s positions worsened in such criteria such as starting business (25th place, -2 positions), getting electricity (83rd place, -5 positions), getting credit (44th place, -2 positions), enforcing contracts (38th place, -1 place) and resolving insolvency (77th place, -5 positions).
Uzbekistan kept the 147th place in the sphere of receiving construction permits in new ranking.
The report said that Uzbekistan carried out reforms in such spheres as paying tax, registering property and protecting minority investors. The report said that Uzbekistan improved business climate in the country.
The report added that four procedures required in Uzbekistan to register enterprise, which is lover than average in the Europe and Central Asia (4.8) and OECD member states (4.9). The registration term is 5.5 days in Uzbekistan against 10.2 days in Europe and Central Asia and 8.3 days in the OECD countries.
A record 137 economies around the world have adopted key reforms that make it easier to start and operate small and medium-sized businesses, says Doing Business 2017: Equal Opportunity for All, the World Bank Group’s annual report on the ease of doing business.
In its global country rankings of business efficiency, Doing Business 2017 awarded its coveted top spot to New Zealand, Singapore ranks second, followed by Denmark; Hong Kong SAR, China; Republic of Korea; Norway; United Kingdom; United States; Sweden; and Former Yugoslav Republic of Macedonia.
The report cites research that demonstrates that better performance in Doing Business is, on average, associated with lower levels of income inequality, thereby reducing poverty and boosting shared prosperity.
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