Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa


Doing Business in Russia 6% Easier
October 23, 2012 10:28

Russia edges 8 notches higher in the latest Doing Business report issued by the World Bank and the International Finance Corporation.

 

In its tenth edition, Russia was placed on 112th place in the 185-country list, moving up from 120th. The progress appears to reflect the government’s drive to rally investors to sectors other than oil and gas.

 

The Russian authorities have been hard pressed to move economy forward, with the net capital outflow over the past nine months standing at almost $58 billion. In May, they announced an ambitious plan to jump, skip and hop over 100 positions to reach the Top 20 business-friendly states by 2018.

 

So this year’s 8-point step appears to be quite a leap forward, with Russia now sandwiched between Palau and Salvador.

 

According to the report, Russia has streamlined its procedures in just two areas – issue of construction permits and paying taxes. It got rid of requirements for several preconstruction approvals and eased compliance procedures for VAT and promoted the use of tax accounting, concludes the WB.

 

Still, it’s a million light years away from leading business-conscious nations like Singapore. While dealing with construction permits in Singapore takes 26 days and costs 16.7% of income per capita, in Russia it requires 344 days, 42 different papers and 129.2% of income per capita.

 

So on the one hand, it’s good to be praised by the WB, but on the other it’s still riddled with red tape, lagging behind in 178th place – out of 185!

 

And in such key aspect for investors as getting an electricity connection it’s even lower - 184th.

 

If you are about to import something to Russia, you’ll need to make sure you have obtained 11 documents and they are all properly filled out and rubberstamped, while in France or South Korea, for example, you would just need 2 and 3 respectively.

 

You can download the full report here.  Below is the data for Russia.

 

 

 


Sources: http://www.rbcdaily.com http://www.doingbusiness.org 

Author: Mikhail Vesely

Tags: World Bank Doing Business Russian taxes Russian business  

Next Previous

You might also find interesting:

Federal Corporation For the Development Of Small And Medium Enterprises Starts Cooperating With JETRO Fabio Capello Stays with Russia for Another 4 Yrs Deficit Of Federal Budget in Russia Amounted to 1,393 Trillion Roubles Disappearing Jobs In Russia 5 Million Passengers Already Used the Services Of Pobeda





comments powered by Disqus




Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
TAGS:
Film Distribution  Vladimir Vysotsky  Starfish  History of Russia  ecology  Archeology  Russian philosophers  Arkhyz Ski resort  solar energy  New Films  Russia-USA  Great Patriotic War  new aircrafts  Painting  Mercedes-Benz Fashion Week Russia  New Museums  Pussy Riot  Russian Literature  Fashion  Russian travel  Detectives  Moscow  Awards  Russian Cinema  Saint Petersburg  espionage  Design  UNESCO World Heritage List  Russian business  Folk Art  Exhibitions in Moscow  radiation  Russian human rights activists  Genocide  Russian political parties  Wi-Fi in Public Transport  Russian tourism  Symbols Of Russia   Hermitage Museum  Air Transport   Russian history  Russian Astronauts  Norilsk Nickel  MTS   Alexander Gradsky  Nikita Mndoyants  Ancient Sanctuaries  business  Edward Snowden  Yakutia 


Travel Blogs
Top Traveling Sites