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Kazakhstan tagged the best among CIS countries in the World Bank's business-rating

21 october 2011, 15:42
0
Photo courtesy of investingport.com
Photo courtesy of investingport.com
Kazakhstan gained 12 lines in the rating of countries with the most favorable conditions for business, DoingBusiness.org writes.

Kazakhstan is currently 47th in the list annually made by the World Bank and International Financial Corporation (IFC). This is the best result among CIS (Commonwealth of Independent States) countries. The rating is based on several indicators, including the costs for opening, operation and closing a company, obtaining permits for construction and employment of work force. This is the 9th time the list is published.

Georgia has the highest 16th position among former USSR countries. It is followed by Latvia (21st), Estonis (24th) and Lithuania (27th). Azerbaijan is ranked 66th and Belarus 69th. Russia is placed on 120th place between Cape Verde and Costa Rica. Ukraine is ranked 152nd and Uzbekistan 166th.

As per experts of the World Bank, Singapore is the most business-friendly country. Top five countries include Hong Kong, New Zealand, the U.S. and Denmark. The worst countries for business are Congo, Central African Republic and Chad.

Next year the rating may be changed significantly. Recently head of the World Bank Robert Zoellick predicted that the world economy will shortly face the challenges bigger than those in 2008.

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