Doing Business rating: Kazakhstan ahead of Austria, Japan, Spain, France, Switzerland and CIS countries

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NUR-SULTAN (TCA) — At a press conference on October 28, the Vice Minister of National Economy Zhaslan Madiyev spoke about the ongoing work that has improved Kazakhstan’s position in the Doing Business rating, the press service of the Prime Minister of Kazakhstan reported.

Last week the World Bank published the annual Doing Business ranking, where Kazakhstan rose by 3 points — from 28th to 25th place on Ease of Doing Business.

According to Madiyev, the fact that Kazakhstan has risen 3 more positions and entered the top 25 best in doing business among 190 countries of the world has clearly shown the effectiveness of government measures aimed at creating favorable conditions for business development from year to year.

Kazakhstan received 79.6 points out of 100 possible after Germany with 79.7 points. Kazakhstan was ahead of Austria, Japan, Spain, France, Switzerland and the CIS countries.

“In terms of the number of points, we have equal positions with Canada and Ireland, which also scored 79.6 points. Their places are 23rd and 24th in the ranking,” said Madiyev.

Over the past two years, Kazakhstan has risen 11 positions up (2017 — 36th place, 2018 — 28th place), demonstrating the record results of the reforms adopted by the Government since 2014 as part of 7 packages of legislative initiatives.

The results of the rating showed that Kazakhstan climbed up 3 out of 10 main directions and retained its fourth place in the world in the indicator “Enforcing Contracts.” Kazakhstan has shown significant growth in the indicators “Getting Credit” (+35 positions), “Registration of Property” (+14 positions), “Getting Electricity” (+9 positions).

“The measures taken allow us to unlock entrepreneurial potential and create a business climate. Improving the business climate ensures the growth of small and medium-sized enterprises, which contributes to the economic growth of the country, and as a result of improving the welfare of the population,” said the vice minister.

“We are not stopping at what has been achieved, our ambitious goal is to create the best conditions for business in Kazakhstan and get an international rating among the top 20 best countries of the Doing Business rating,” said Madiyev.

Sergey Kwan

TCA