Kazakhstan implements more reforms to improve business environment than any country in world

Baku, Azerbaijan, Oct. 31

Trend:

The World Bank Group in Central Asia presented a report "Doing Business 2016: Measuring Regulatory Quality and Efficiency" in Almaty, Kazinform agency said.

Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan have carried out total 14 reforms in various fields, according to the report.

"Kazakhstan is the leader not only in the region but in the world in a number of implemented reforms," said Valentine Sultan, member of the group, during a video conference from the United States. "In 2014, the country introduced seven reforms in such areas as registration of new businesses, property, dealing with construction permits, raising of credits, protecting minority interests, enforcing contracts and resolving insolvency problems."

In the global ranking, Kazakhstan rose to 12 positions and at the moment occupies the 41^st place, while Tajikistan is the 132^nd, and Uzbekistan - 87^th.

World Bank Regional Director for Central Asia Saroj Kumar Jha said that the quality of legal processes is also one of the major obstacles to investment. In his opinion, improvement of a judicial system will play a key role in the economic development of the region.