Favorable business climate
The World Bank increased the position of Kazakhstan in the Doing Business ranking on ease of doing business by 3 positions – from 28th to 25th.
Improving the position of Kazakhstan in the Doing Business rating was made possible thanks to the ongoing systematic work of the Government on reforming existing legislation, improving the licensing system, simplifying business creation procedures, optimizing state control and oversight activities and developing the business climate.
The work on improving the conditions for business development will continue, in accordance with the instructions of Elbasy Nursultan Nazarbayev and Head of State Kassym-Jomart Tokayev.
The World Bank annually publishes the rating of 190 countries on favorable business conditions. The analysis is carried out on 10 indicators, including the time and money spent on starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, etc.
Kazakhstan was ahead of Iceland (26th place), Austria (27th place), Russia (28th place), Japan (29th place), Spain (30th place), Armenia (47th place), Belarus (49th place), Kyrgyzstan (80th place) and many other countries.
The leaders in Doing Business ranking are New Zealand, Singapore and Hong Kong.