Kyrgyzstan to rise by 7 positions in Doing Business ranking
By Abdul Kerimkhanov
Kyrgyzstan to rise in the Doing Business ranking from 77th to 70th place.
According to the World Bank report, the country’s position on individual indicators was improved, such as, “Insolvency Resolution” - 82nd (+37), “International Trade” - 70th (+ 14), “Protection of minority investors” - 38th place (+13) and “Enforcement of contracts” - 131st (+8), said Oleg Pankratov, the Minister of Economy of the Kyrgyz Republic.
The improvement of these positions allowed Kyrgyzstan to rise in the Doing Business ranking from 77th to 70th place.
The Prime Minister of the Kyrgyzstan Muhammedkaliy Abylgaziyev held a working meeting on the issue of improving the position of Kyrgyzstan in the international ranking “Doing Business”, press service of the government reported.
Abylgaziyev recalled that the government has set itself the task of joining the leading 40 countries in the Doing Business ranking by 2023. In this regard, he criticized the work of the state bodies responsible for improving the indicators “Connecting to the power supply system” - 164th place and “Taxation” - 150th place.
Prime Minister said that the improvement in individual positions in the current year suggests that with effective work the desired result can be achieved.
“In order to create favorable conditions for business development, we need to take drastic measures to reduce the number of procedures and the time required for them to pass on each indicator of the Doing Business ranking,” the head of government emphasized.
In addition, Abylgaziyev reminded about the personal responsibility of the heads of ministries and departments of the country.
The Prime Minister instructed the state bodies to analyze the indicators of the “Doing Business 2019” rating within two weeks and to make qualitative comments and suggestions.
Taking them into account, it was entrusted to finalize the draft Action Plan for improving the positions of Kyrgyzstan in the Doing Business ranking and promptly submit it for consideration by the Government of the Kyrgyz Republic.
Doing Business is annually published by the World Bank Group, which assesses regulatory standards in entrepreneurial activity.
Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation.
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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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