Azerbaijan's position in WB Doing Business significantly improves (UPDATE)
Details added (first version posted on 17:25)
Baku, Azerbaijan, Oct. 31
By Taleh Mursagulov - Trend:
Azerbaijan has significantly improved its positions in the World Bank Group's Doing Business ranking published today.
Thus, Azerbaijan ranked 25th among 190 countries in Doing Business 2019, while it was 57th in Doing Business 2018.
According to Doing Business 2019, Azerbaijan ranks 9th in "Business registration", 17th in "Registering property", 22nd in "Getting credit", 2nd in "Protecting minority investors", 28th in "Taxation".
According to Doing Business 2019, Azerbaijan has entered the list of countries with the most noticeable improvement in the economy.
Doing Business authors said that Azerbaijan has carried out a record number of reforms aimed at simplifying doing business in 2017-2018 among 10 economies that have shown significant improvement.
In particular, the authors stressed that Azerbaijan has simplified the process of obtaining building permits, connecting to power grids, registering property, getting credit, taxation, international trade.
The authors also stressed labor market reforms and reforms aimed at protecting minority investors.
Some of these reforms include institutional changes, the authors said.
Azerbaijan has created a "single window" for issuing building permits, which reduces the time to obtain a permit to 80 days. Azerbaijan has also improved access to loans by creating the first credit bureau and a movable property registry.
Moreover, the authors emphasize that the process of connecting to the electricity grids has also been simplified thanks to the ASAN Kommunal centers in Azerbaijan.
Doing Business is annually published by the World Bank Group, which assesses regulatory standards in entrepreneurial activity.
Azerbaijan joined the WB Group in 1992.