Iran plans to improve its rank in WB’s next report
Tehran, Iran, Dec. 28
By Milad Fashtami - Trend:
Iran's deputy industry, mine and trade minister, Ali Asghar Tofigh, said the country plans to improve its rank in the next year's 'Doing Business' report of the World Bank (WB) to 88.
"The ministry is taking some measures to shorten the process of receiving license for industrial units," he said, Iran's Fars news agency reported Dec. 28.
"Receiving a license has 16 stages. The process can now be done in 16 days, while it used to take 319 days," he added.
The WB released its "Doing Business - 2015" report for 189 countries in November, in which Iran ranked 130th.
Iran's rank showed a two-step improvement compared to previous report.
Singapore, New Zealand, Hong Kong Special Administrative Region of China, Denmark, Korea Republic, Norway, the US, the UK, Finland, and Australia are the top ten countries in the list.
According to the WB, economies are ranked on their ease of doing business.
A high ease of doing business ranking means the regulatory environment is more conducive to start and operate a local firm.
The rankings are determined by sorting the aggregate distance to frontier scores on 10 topics, each consisting of several indicators, giving equal weight to each topic. The rankings for all economies are benchmarked to June 2014.
Iran showed progress in four sections in the mentioned period. Starting a business, getting electricity, trading across borders, and enforcing contracts are the mentioned sections.
The country, however, showed negative performance in the fields of dealing with construction permits, registering property, getting credit, protecting minority investors, paying taxes, and resolving insolvency.