Source: The Astana Times
Kazakhstan was among the top 10 improvers in this year’s World Bank Doing Business report, released Oct. 25. Kazakhstan climbed 16 positions since 2015, reaching 35th place in the ranking of the ease of doing business among 190 countries. This year, Kazakhstan is ranked between Japan and Romania. The country is ahead of Russia (40), Kyrgyzstan (75), China (78) and Uzbekistan (87).
“More than 40 regulations were adopted in Kazakhstan within the implementation of the five institutional reforms. New measures aim to reduce the time and the number of procedures and tackle corruption. However, it is not enough just to adopt regulations, it is more challenging to ensure the implementation of these changes,” said Chair of the Board of the Almaty Development Centre Zhanna Tulegenova in a Facebook post about the new ranking.
Among the report’s categories, Kazakhstan improved its standing in indicators such as dealing with construction permits (leaping from 78th to 22nd place), protecting minority investors (rising 22 places to third) and getting electricity (rising 27 places to 75th). Slight improvements were made in starting a business, trading across borders and resolving insolvency (climbing to 45th, 119th and 37th respectively). At the same time, the economy lost ground in the categories of getting credit and paying taxes and remained unchanged in enforcing contracts.