Belarus Loses Positions in "Doing Business" Report

04.11.2010 11:49

The World Bank has published the 7th annual report "Doing Business 2011". According to a study, Belarus has won the 68th position out of 183 countries and has lost four positions this year. The most significant deterioration (minus 18 points) has occurred in "closing down of business" category, which takes into account the time and financial costs of the bankruptcy process.

As it became known to Telegraf, World Bank experts have not detected any improvement in the taxation sphere of Belarus. According to this indicator the country is still in the last 183rd place in the world. Slight deterioration has also occurred in the investor protection area — minus one point.

In the lending sphere the position of Belarus has considerably improved (plus 20 points). According to this parameter the country has risen from 109th up to 89th place. Experts have also recorded improvements in construction permits obtaining (plus 10 points), making Belarus rank the 44th place in the world.

According to the survey, Singapore retained its first place on the ease of doing business, followed by Hong Kong SAR (China), New Zealand, United Kingdom, USA, Canada, Denmark, Norway, Ireland and Australia.

Neighbors of Belarus were given the following places in the report «Doing Business 2011»: Latvia — 24 (last year 27), Lithuania — 23 (26), Poland — 70 (73), Russia — 123 (116), Ukraine — 145 ( 147).

World Bank experts stress that the position in the ranking is associated not only with the efforts within the country, but also with similar actions by other states and point out at the intensity of reform in Belarus in this case. Belarus has been one of five leading reformers for several years on end.  Belarus ranks 3rd position in the report «Doing Business 2011», giving place to Georgia and Rwanda.

According to Telegraph, in August 2010 the Ministry of Economy of Belarus predicted that the country would rise ten points up in «Doing Business 2011» ranking.

President of Belarus Alexander Lukashenko set the task to enter the 30 countries with the best conditions for doing business in the coming years.