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Belarus Up In Doing Business Report

Belarus is ranked 37 among 190 economies in Doing Business report 2017 and is 13 points up from last year’s Doing Business 2016 rank 50 (recalculated based on methodology changes and addition of one economy). 

Belarus belongs to the world’s top ten improvers, based on reforms undertaken, alongside Brunei, Kazakhstan, Kenya, Indonesia, Serbia, Georgia, Pakistan, the United Arab Emirates and Bahrain.

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The ranking is based on 10 indicators measuring aspects of regulation affecting businessin the country. Starting a Business in Belarus scored 31 (30 in the Doing Business 2016 report), Getting Construction Permits — 28 (25), Getting Electricity — 24 (74), Registering Property — 5 (7), Getting Credit — 101 (109), Protecting Minority Investors — 42 (62), Paying Taxes — 99 (95), Trading Across Borders — 30 (30), Enforcing Contracts — 27 (28), Resolving Insolvency — 69 (95).

The report considers reforms conducted between June 2, 2015 to June 1, 2016. Belarus carried out four major reforms within this period of time. Namely, Belarus improved its business climate by establishing a one-stop shop at the utility that fulfills all utility connection-related services, including the design and construction of the distribution line.

Transfer a property was made easier by improving the transparency and reliability of the land administration system. Today it is necessary to complete only two procedures and spend three days to register a property.

Apart from that, a system of credit histories was created and the credit history bureau started giving credit worthiness scores to borrowers.

Belarus also took steps to better protect minority investors by introducing remedies in cases where related-party transactions are harmful to the company and requiring greater corporate transparency.

The best performers in Doing Business 2017 report are New Zealand, Singapore (the two swapped places in comparison with the previous year), and Denmark.

The neighbors of Belarus are ranked as follows: the highest is Latvia (14), Lithuania comes in 21st position, Poland in 24. Russia is ranked 40th and Ukraine is given 80th place.

The government of Belarus pays much attention to Doing Business ranking. The task has been set to bring the country into the world’s Top 30 in the next few years.


See also: Belarus Has To Make Extra Effort To Change Investors’ Perceptions, WB Expert Says