Kazakhstan climbs to 35th position in Doing Business
Kazakhstan’s progression in Doing Business ranking demonstrates that the country has improved its investment climate. Many reforms have been implemented to achieve this. The business entities registration process has been simplified and shortened, management of banking system has been improved, experts say.
Galiya ZHOLDYBAEVA, HEAD OF ENTREPRENEURSHIP DEVELOPMENT, KAZAKH MINISTRY OF NATIONAL ECONOMY:
The reforms are aimed at strengthening protection of the rights of minority investors and introduction of one-stop-shop principle by combining expertise and services. The new Civil Procedure Code of Kazakhstan has been positively evaluated in the report. Rights of the creditors in the process of voting on the plan of rehabilitation and protection of creditors have been strengthened.
The World Bank has released the latest data on ease of doing business. Kazakhstan has climbed to 35th position jumping 6 points. The country outpaced Belgium, Italy, Israel, Georgia, Turkey and Russia. Economists believe that the World Bank’s latest report may attract new investments from Europe, the USA, Japan and India.
Saparbai ZHUBAYEV, CANDIDATE OF ECONOMIC SCIENCES:
The World Bank, the UN and the Davos Forum provide country rankings because not all investors have the opportunity to see firsthand the country’s business conditions. They, especially the European, American, Japanese and Indian investors, make decisions whether to bring investments, whether to start a business in Kazakhstan based on these indicators provided by the World Bank, the UNDP and the Davos Forum.
Meanwhile, Kazakh Ministry of Economy has developed reforms on improving 10 indicators used to assess the country’s performance in Doing Business. The reforms are designed to improve Kazakhstan’s rankings in Doing Business.