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  

Related Articles

Turkish footwear manufacturers step up investments in Uzbekistan’s leather and footwear industries

Turkish footwear manufacturers are stepping up their investments in Uzbekistan’s leather and footwear industries, according to local reports. A $1mn investment in the manufacture of leather, ... more

Shipping companies latest to feel effects of “West’s very tight blockade against Turkey’s banking system", says report

Shipping companies are the latest to feel the effects of “the West’s very tight blockade against the Turkish banking system”, according to a report by Turkish publication Ekonomim. In ... more

“Panic buys” push up white goods sales in Turkey as consumers fret over impending credit card curbs

White goods sales in Turkey moved up 22% y/y in January as anxious consumers rushed to stores to make “panic buys” ahead of possible government measures to curb credit card spending, according to ... more

Dismiss