Turkey ranks 69th in World Bank’s Doing Business 2014 report.

By bne IntelliNews October 30, 2013

Turkey ranked 69th in the World Bank’s Doing Business 2014 report among 189 countries, moving from the 72th place in the last year’s report.

Turkey made starting a business more difficult by increasing the minimum capital requirement, and made transferring property more costly by increasing the registration and several other fees, the Report said.

On the upside, Turkey reduced the time required for dealing with construction permits by setting strict time limits for granting a lot plan and by reducing the documentation requirements for an occupancy permit and the country made getting electricity easier by eliminating external inspections and reducing some administrative costs, the Report said.

The Report also noted that Turkey strengthened investor protections through a new commercial code that requires directors found liable in abusive related-party transactions to disgorge their profits and that allows shareholders to request the appointment of an auditor to investigate alleged prejudicial conflicts of interest.

Turkey's Ranks in Doing Business 2014 Report
*Ease of doing business (rank) 69
*Starting a business (rank) 93
  Procedures (number) 6
 Time (days) 6
*Dealing with construction permits (rank) 148
  Procedures (number) 20
 Time (days) 164
*Getting electricity (rank) 49
  Procedures (number) 4
 Time (days) 70
Source: World Bank  
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Turkey reportedly set to raise debt limit for first time in 8 years as Ankara fuels credit

Turkey is preparing to raise its debt limit for the first time since 2009 after first-half borrowing left the Treasury near its legal ceiling, Bloomberg reported on July 25. Citing a person with ... more

Four Turkish companies reportedly consider IPOs in London or Istanbul

Turkey’s Enerjisa, Memorial Health Group, Tab Gida and Baskent Gaz are considering public offerings in London or Istanbul, unnamed sources told Bloomberg on July 19. Enerjisa, a 50:50 JV ... more

Turkey bars entry to thousands from more than 140 nations over suspected IS ties

Turkey has arrested and deported thousands of people suspected of having links to the Islamic State group according to a Turkish interior ministry report entitled “Turkey’s Fight ... more

Most Read

  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    23 hours ago
  2. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    1 day ago
  3. EU allows Gazprom to use an additional 40% of OPAL gas pipeline's capacity
    2 days ago
  4. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    6 days ago
  5. Bosnia’s ruling coalition collapses
    4 days ago
  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    23 hours ago
  2. CHINA RISING: When sleeping giants meet
    15 days ago
  3. Belarus’ retail king Euroopt goes on the road
    21 days ago
  4. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    1 day ago
  5. STOLYPIN: Russia’s cyber-challenge cuts both ways
    23 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss