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Russia Ranked 31st in the Doing Business
November 19, 2018 08:15


(Source: https://globalinform.net/archives)

Russia ranked 31st in the “Doing Business” ranking that is annually composed by the World Bank, as “Inc.Russia” reports. Despite the fact that Russia has managed to rise by four positions, as compared to last year, the goal of joining the top 20 of the list that was stated in the decrees as of May 2012 by the President Vladimir Putin, has not yet been achieved.

Russia managed to enter the top 20 in three separate spheres taken into account when composing the ranking: registration of enterprises and property (12th place), connection to electricity supply networks (12th place) and provision of contracts implementation (18th place).

At the same time, Russia ranks 22nd in providing loans, occupied the 32nd place in simplicity of starting a business, the 48th place in issuing construction permits, the 55th position in resolution of solvency issues and the 99th in international trade.

The Minister of Economic Development Maksim Oreshkin said that the World Bank did not take into account all the reorganizations conducted in 2017-2018 when evaluating all indicators: these would have made is possible for Russia to take the 18th place in the overall ranking, as Oreshkin said.

At the same time, the Minister of Economic Development stressed the fact that the goal still was to get into the top 20. “If we analyze the general situation, the problem has been largely solved - the 31st position is not so far from the 20th line, especially considering that we started from the 124th position”, as the publication quotes the words of Oreshkin.

Let us recall that Russia took the 26th place in the ranking of the best countries in the world, according to the US News & World Report, having risen by one position during the year. The 27th line that was occupied by Russia last year is now taken by Thailand; Switzerland is on the top of the list, Canada ranks second, and Germany closes the top three.

Read More Articles on Doing Business in Russia

The US News & World Report rates countries by a series of various indicators; the highest position of Russia is observed in the sphere of power and influence, where it ranks second (the first place belongs to the United States, the third – to China). Speaking of business-related lists, the country’s positions are not so good: Russia took the 24th line in the ranking of the best countries for entrepreneurship, where they assessed the access to assets, the state’s connection with the rest of the world, transparency of business practices and other indicators.

Russia also took the last, 80th, line in the list of the states that are most open to business, based on a survey of more than 21 thousand people. Corruption in Russia was rated at 8.8 points out of 10, bureaucracy - at 10 points out of 10. According to the compilation of all indicators, Russia scored 0 points.




Author: Anna Dorozhkina

Tags: Russian business     

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