Kazakhstan falls in the World Bank Doing Business rankings for 2015


Kazakhstan falls in the World Bank Doing Business rankings for 2015World Bank’s 2015 Doing Business Rankings showed Kazakhstan on 77th spot, according to the report from Doing Business.

The annual report ranks every country based on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business while compiling fully with regulations, measuring and tracking regulations affecting 11 different business aspects, ranging from how well the country enforces contracts to how easy it is to obtain construction permits.

According to the report, Kazakhstan has achieved positive results in areas such as “Registering Property” (14th place, + 4 positions), “International trade” (185th place, + 1 position), “Enforcing Contracts” (30th place, +5 points) and “Resolving Insolvency” (63rd place, +19 points).

Other criteria decreased, “Register of Enterprises” (55th place, -2 points), “Dealing with Construction Permits” (154th, -2 points), “Connecting to electric networks” (97th place, -5 points), “Getting credit” (71th place, – 4 points), “Protection of minority shareholders” (25th place, -4 points) and “Taxation” (17th place, -1 point).

Note that the ranking is led by Singapore, New Zealand, Hong Kong, Denmark, South Korea, Norway, USA, UK, Finland, and Australia. Russia has risen from 64th to 62nd spot. Among the former Soviet republics Georgia maintains a leading position (15th place).