Azerbaijan improves position in WB’s Doing Business 2016

Baku: “Doing Business 2016: Measuring Regulatory Quality and Efficiency”, a World Bank Group flagship publication, is the 13th 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 189 economies.

“Doing Business 2016: Measuring Regulatory Quality and Efficiency” finds that entrepreneurs in 122 economies saw improvements in their local regulatory framework last year. Between June 2014 and June 2015, 189 economies worldwide documented 231 business reforms, with 71% reforms aimed at reducing the complexity and cost of complying with business regulation, and 29% reforms aimed at strengthening legal institutions. Sub-Saharan Africa alone accounts for 30% of the regulatory reforms making it easier to do business in 2014/15, followed closely by Europe and Central Asia.

Azerbaijan took the 63rd place in 2015 in the Doing Business-2016 annual ranking of the World Bank (WB) and the International Finance Corporation (IFC) by 17 points,

At the same time, Azerbaijan was among the ten countries with the best conditions to start a business. Azerbaijan took the seventh place with 97.75 points, whereas last year it took the 11th place.

Rating of Azerbaijan was formed of the following indicators:

Dealing with Construction Permits – 114th place (against 138th last year)

Getting Electricity – 110th place (against 104th)

Registering Property – 22nd (21st)

Getting Credit – 109th (105th)

Protecting Minority Investors – 36th (54th)

Paying Taxes – 34th (33rd)

Trading Across Borders – 94th (93rd)

Enforcing Contracts – 40th (40th)

Resolving Insolvency – 84th (85th)

In the global ranking stakes, Singapore retains its top spot. Joining it on the list of the top 10 economies with the most business-friendly regulatory environments are New Zealand, in second place; Denmark (3); Republic of Korea (4); Hong Kong SAR, China (5); United Kingdom (6); United States (7); Sweden (8); Norway (9); and Finland (10).