Azerbaijan ranks 54th in "Doing Business 2011"

Azerbaijan ranked 54th this year in an international rating of improving entrepreneurial conditions by country. The report was compiled by the World Bank and the International Finance Corporation under the titled, "Doing Business 2011: Making a Difference for Entrepreneurs." The research involved 183 countries.

According to the report, Azerbaijan efficiently held reforms in 2009-2010 in receiving loans and tax payments.

According to the report, Azerbaijan improved access to loans, created an online platform - state credit registry, and allowed financial institutions to provide and receive data about loans. In addition, changes to the tax code helped to reduce some rates, including rates on income tax, and also simplified the process of paying corporate income tax and VAT.

From the CIS, Kazakhstan ranked 59th, Belarus - 68th, and Russia - 123rd. The top ten leading reformers were Singapore, Hong Kong (China), New Zealand, the UK, the United States, Canada, Denmark, Norway, Ireland and Australia.

The Doing Business Report has been published since 2004, annually adding to the list of criteria based on which a country's rating is compiled. If in 2004 there were only five, the latest research was carried out in 10 directions - starting a business, building permits, hiring and dismissal from work, property registration, getting loans, protecting investors' interests, payment of taxes, registration of export- import operations, ensuring execution of contracts, and closing a business.

In the Doing Business-2009 report, Azerbaijan was recognized as a leader in economic reforms. Thus, Azerbaijan became a leader not only in terms of economic development, but also in terms of economic reforms aimed at improving the business environment.


/Trend/