Russia ranks 40th among the 190 economies rated in the Doing Business 2017 index compiled by the World Bank and the International Finance Corporation, the US-Russia Business Council reported, citing the source.
Doing Business focuses on the ease of starting a business as well as taxation laws, corporate governance, the quality of judicial processes, and the flexibility of employment regulations. It does not cover macroeconomic stability, the financial system, the quality of the labor force, corruption or security.
For the second consecutive year, Russia ranks higher than the other BRICS nations with South Africa ranking 74th, China 78th, Brazil 123th and India 130th. Russia, however, dropped out of the top 10 nations in terms of economic reform implementation in the 2017 ranking. It remains among the top 10 in terms of the ease of property registration and among the top 50 in terms of business registration, access to power grid, availability of credit, and enforcement of contracts. Its positions remain low with respect to foreign trade and the quality of regulation in the construction sector.