Kazakhstan has been ranked 28th in the Doing Business rankings.

Kazakhstan has been ranked 28th in the Doing Business rankings.

Kazakhstan has joined the top 30 most advanced countries according to the World Bank’s report. The country has been ranked 28th in the Doing Business rankings. The result shows that the world analysts highly appreciated the doing business conditions created in Kazakhstan. Experts of the World Bank and the International Finance Corporation emphasized that the high rates resulted from the reforms aimed at improvement of the doing business conditions.

ATO BROWN, WORLD BANK COUNTRY MANAGER FOR KAZAKHSTAN:

 - The Doing Business ranking is based on Almaty. It’s Almaty’s climate, business climate, and, as you know, we, the World Bank Group, is working with the Government to do subnational Doing Business so we are now trying also to measure business climate in all the 16 cities in Kazakhstan.

According to the analysis, Kazakhstan is ahead of countries such as Spain, Russia, France, Poland, Portugal, Belarus, Switzerland, Japan and Turkey. In total, the annual report analyzed 190 countries based on 10 main indicators. This year, Kazakhstan has improved its performance. The country has become a world leader in two indicators, particularly, the protection of minority investors and the enforcement of contracts.

KAMILA KOVYAZINA, EXPERT, INSTITUTE OF WORLD ECONOMICS AND POLITICS:

 - Kazakhstan climbed to 28th place in the process of a great, full-fledged, gradual and progressive work. Most of the works have been done on taxation. This is due to the fact that the time and procedural costs for registering as a taxpayer have decreased. Moreover, the second accomplishment is working on an international trade which is on the introduction of the Astana-1C electronic document flow system. The third accomplishment is the enforcement of contracts.

This year, New Zealand headed the Doing Business ranking. The top 10 leaders of the rating also include Singapore, Denmark, South Korea, Hong Kong, Georgia, Norway, the USA, the UK and Macedonia.