Armenia up 5 points to 38th rank in WB`s updated Doing Business report

ArmInfo. Armenia has been  ranked the 38th in WB Doing Business 2017 report published overnight.  The country has improved its rank by 5. The country performed well in  Getting Electricity (improvement by 9 positions) and Getting Credit  (by 22 positions), Enforcing Contracts (by 7 positions). 

The country underperformed on Dealing with Construction Permits (by 3  positions), Protecting Minority Investors (by 2 positions) and  Resolving Insolvency (by 3 positions). Generally, Armenia has reduced  the Distance to frontier score (1-100) reaching 73.63.   Armenia  underperformed in Paying Taxes (88) and Construction Permits  (81),  Trading Across Borders  (48). 

Comparing to other CIS countries, Armenia is left behind Georgia  (16), Kazakhstan (35), Belarus (37), but leaves behind Russia (40),  Moldova (44), Azerbaijan (65), Kyrgyzstan (75), and Ukraine (80).  

A record 137 economies around the world have adopted key reforms that  make it easier to start and operate small and medium-sized  businesses, says Doing Business 2017: Equal Opportunity for All, the  World Bank Group's annual report on the ease of doing business.  The  new report finds that developing countries carried out more than 75  percent of the 283 reforms in the past year, with Sub-Saharan Africa  accounting for over one-quarter of all reforms.  In its global  country rankings of business efficiency, Doing Business 2017 awarded  its coveted top spot to New Zealand, Singapore ranks second, followed  by Denmark; Hong Kong SAR, China; Republic of Korea; Norway; United  Kingdom; United States; Sweden; and Former Yugoslav Republic of  Macedonia.

The world's top 10 improvers, based on reforms undertaken, are Brunei  Darussalam; Kazakhstan; Kenya; Belarus; Indonesia; Serbia; Georgia;  Pakistan; United Arab Emirates (UAE); and Bahrain.