YEREVAN (ArmRadio)—Armenia ranks 37th in the “Doing Business 2014” report released by the World Bank and the International Financial Corporation (IFC) Tuesday, which measures the ease of doing business in a country.
Armenia leads among CIS countries in the ratings. Specifically, Kazakhstan ranks 50th, Belarus is 63rd, Kyrgyzstan is 68th, Azerbaijan 70th, Moldova 78th, Russia 92nd, Ukraine 112th, Tajikistan 143rd and Uzbekistan 146th. Armenia’s neighbors Turkey and Iran are ranked 69th and 152nd respectively.
Singapore is on top of the ratings for the ninth year in a row. It is followed by Hong Kong, New Zealand and the United States.
“Armenia made starting a business easier by eliminating the company registration fees. In addition, it made paying taxes easier by merging employee and employer social contributions and the individual income tax into one unified income tax,” the report reads.
The Doing Business Project provides objective measures of business regulations and their enforcement across 189 economies and selected cities at the national and regional level.
The Doing Business Project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle.
The full index can be viewed here.