Belarus has climbed up to the 37th position in the World Bank Doing Business 2019 report. The country left behind such countries as Switzerland, Japan, and China.
Doing business in Belarus is easy.
Compared to last year, Belarus has risen one place to rank 37th out of 190 economies surveyed by the World Bank.
The country is currently amongst the world’s top performers in registering property and new business, connection to the power grid.
Belarus is however still underperforming in the sphere of taxation, resolving insolvency of enterprises and obtaining loans.
✔ Belarus abolished the requirement to register the book of Registry of Inspections and allowed its purchase within six months of incorporation.
✔ Belarus made dealing with construction permits easier by streamlining the process at the one-stop shop.
Our partners in the Eurasian Economic Union also show impressive results. Over the past year, Kazakhstan moved up from 36th to 28th place, Russia jumped from 35th to 31st position.
Armenia occupied 41st place, Kyrgyzstan claimed 70th. Belarus’ neighbours were ranked even higher: Lithuania – 14th, Estonia – 16th, Latvia – 19th, Poland – 33rd. Ukraine is at the 71st position.
Interesting that it’s now easier to do business in the former Soviet republic of Georgia than in Britain or America (8th). It hopped over both to claim 6th position.
Along with New Zealand, Georgia requires just one procedure to start a business, the least worldwide. The top five overall are: New Zealand, Singapore, Denmark, Hong Kong and Korea.
The ranking assessed the economies taking into account trading regulations, property rights, contract enforcement, investment laws, the availability of credit and a number of other factors.