Georgia top Eurasian country in WB Doing Business 2016 rankings

Tbilisi Business Centre

Georgia has the most conducive business environment in Eurasia, according to the World Bank’s Doing Business 2016 report that was published this week, followed by Armenia, Kazakhstan, Belarus and Russia. Along with Uzbekistan, Kazakhstan was among the top 10 economies to show the most improvement over the past 12 months,  while Russia moved up 11 places in the overall  rankings from 62nd to 51st, just falling short of Putin’s goal of making it in to the top 50.
According to the report,  Russia’s improved standing was  mainly  down to the reach of its electricity networks, its  tax system and the ease with which businesses can raise loans – but it  Still needs to improve its  business registration system and to cut out the red tapes involved in obtaining building permits. Western sanctions and its own retaliatory ban on EU food imports  are also hindering businesses’ ability to conduct international trade. 
The top ten countries in the overall rankings were:

  1. Singapore
  2. New Zealand
  3. Denmark
  4. South Korea
  5. Hong Kong
  6. UK
  7. US
  8. Sweden
  9. Norway
  10. Finland

The  regional rankings were:

  1. Georgia (24th overall)
  2. Armenia (35th)
  3. Kazakhstan (41st)
  4. Belarus (44th)
  5. Russian Federation (51st)
  6. Turkey (55th)
  7. Mongolia (56th)
  8. Azerbaijan (63rd)
  9. Kyrgyz Republic (67th)
  10. Ukraine (83rd)
  11. China (84th)
  12. Uzbekistan (87th)
  13. Iran (118th)
  14. Tajikistan (132nd)