Kazakhstan leads Central Asian countries in World Bank’s 2017 Doing Business ranking

By bne IntelliNews October 26, 2016

Kazakhstan was among the top 10 global improvers in the World Bank's Doing Business report that assesses the ease of doing business across 190 economies worldwide. Climbing 16 positions to rank 35th, Kazakhstan also performed better than the other Central Asian country, the report released on October 25 showed.

Most notably with seven business reforms implemented, Kazakhstan led the world for a second consecutive year. Some of the reforms include the introduction of simplified postregistration procedures for small businesses and streamlining of the rules for enforcement proceedings. The country also improved process efficiency on getting electricity, while facilitating more reliable power supply and transparency of tariff information.

Kazakhstan was also among countries that allowed for the expansion of shareholders’ role in company management for the country’s companies. Moreover, the country removed two documents on exports and imports required for customs clearance, reducing the export documentary compliance time.

At the same time, Kazakhstan strengthened creditors’ rights by providing additional protections to creditors in the process of voting on the reorganisation plan. Finally, while changing labor legislation, Kazakhstan eliminated the requirement to reassign an employee to a different position before making the employee redundant, the report noted.

Mongolia was the second best performer in the region behind Kazakhstan, having settled in at 64th place, down two places from the previous ranking. Kyrgyzstan came next at 75th position, also down two spots from the previous year. The Central Asia’s most populous country, Uzbekistan, fell 5 places to rank 87th, while Tajikistan climbed two spots to rankt 128th.

Tajikistan’s notable reforms include the introduction of electronic invoices, the report read. The country also allowed road taxes to be paid electronically. Due to these reforms, medium-sized companies now make 12 payments per year, compared to 28 previously.

One of the world’s most isolated countries, Turkmenistan, was not included in the report.

Related Articles

Kazakhstan’s Bank of Astana SPO to be first ever placement of foreign bank on Moscow Stock Exchange

Kazakhstan’s Bank of Astana (Astana Banki) plans to conduct a secondary offering of shares (SPO) on the Moscow Stock Exchange, RNS news agency reported last week. Bidding will begin on December 14. ... more

Kyrgyzstan to withdraw WTO complaint as Kazakhstan lifts border restrictions

Kyrgyzstan is to withdraw its complaint filed with the World Trade Organization (WTO) over Kazakhstan’s moves to tighten controls on the Kazakh-Kyrgyz border introduced in ... more

Striking Kazakh copper miners refuse to surface, post photo on Facebook

Dozens of striking copper miners demanding wage hikes in Kazakhstan's Qaraghandy region are refusing to return to the surface, RFE/RL reported on November 30, citing activists ... more

Dismiss