Central regions | Finance, business

Russia rises in World Bank's Doing Business ranking

25 Oct '19
Russia now ranks 28th in the World Banks 2020 Doing Business ranking of 190 economies, inching up three places from the 2019 ranking to finish ahead of Israel and even Japan but still behind Kazakhstan, a former Soviet Union republic in Central Asia.

Russia showed marked progress on the ease of getting construction permits and connecting to the power grid, rising to the 26th and 22nd places in the respective rankings. Russia retained its 12th place on the ease of property registration.

However, it also remained in 99th place on international trade and customs regulations. On the protection of minority investors, Russia dropped 15 points to 72nd place. Its rankings also declined on access to credit, contract enforcement, and tax payment procedures.

Doing Business evaluates the impact of regulatory reforms implemented during the past year. Russias position in the rankings has improved 89 points since 2011the largest improvement among the rated countriesmaking Russia the highest-rated BRICS economy. China, the second highest rated BRICS country, demonstrated an impressive 15-point rise to 31st place within just one year.

New Zealand tops the Doing Business ranking this year, followed by Singapore, Hong Kong, Denmark, South Korea, and the United Stated. Georgia, an ex-USSR constituent and now dynamically developing country in the Caucasus region, retains its place in the Top-10, ceding one position though (7th vs. 6th last year), and ranks ahead of the UK and Norway.

President Putin has set the goal for Russia to be among the rankings top 20 economies by 2024. He did likewise in 2012 with the 2018 deadline; Russia ranked 120th back then.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations:

Tags: Doing Business (2) / (0) / (0) / (0) /

Latest News: Central regions
28 May '20 | Technology & innovation
28 May '20 | Retail, FMCG | Finance, business
27 May '20 | Finance, business
 

Feature stories

21 May '20
Russian and Italian researchers have developed a...
5 Apr '20
To extend the service life of medical fabric masksan...
26 Feb '20
A Russian developer has come up with its own...
Search (News archive - 21999)

World of the Future, World of AI

Luc Jones: A Guide to Doing Business in Russia and the CIS Countries
Why Russians Don't Smile
Advertising
Venture_Russia_2019_eng
Advertising
NATT
Advertising
Marchmont News

Latest News

28 May '20
A 21% average daily increase in the number of online...
27 May '20
A new compound has been synthesized in Moscow. Its...
26 May '20
Sberbank, Russias largest savings bank, has bought...

Most read stories from last week

26 May '20
Sberbank, Russias largest savings bank, has bought...
26 May '20
Interview with Michael Pochepsky, a resident of the...
26 May '20
Skolkovo resident Sputniks has agreed with the...