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KZ ranking in “Doing Business” increased by 7 points

October 24 2012, 11:09

The World Bank ranked business climate in 185 counties on 10 indicators of “Doing Business” rating. Kazakhstan has ranked 49th (versus 56th in 2011) in the "Doing Business 2013" ratings, improving its position in the rankings by seven points, the Kazakh Economic Development and Trade Ministry said on Tuesday.

"In addition, this year Kazakhstan has entered the list of the countries that have shown significant improvements in facilitating business during the last year," reads the statement.

According to the "Registration of companies" indicator, Kazakhstan rose by 30 positions (from 55th to 25th place), which is due to simplifying the procedure of establishment and removal of a claim on payment of minimum capital within three months after registration.

According to "Resolution of insolvency" indicator (55th place) reforms were implemented to introduce accelerated rehabilitation proceedings, prolonging rehabilitation, empowerment and improvement of qualification requirements to liquidators.

Kazakhstan showed significant growth in“Obtaining Credit” category (from 97th to 83rd place). The rights of secured creditors were strengthened through the introduction of new grounds for relief from automatic presence in rehabilitation procedures.

This year, the reforms are being continued and implemented in accordance with the Comprehensive Plan of measures to improve the indicators of "Doing Business" rating of World Bank in 2012.

“Doing Business” mainly requires to exclude excess burden of national legislation and does not require significant financial investments into the implementation of reforms. 

WKT

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