Armenia 45th in Doing Business-2015

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29.10.2014, 11:24

Armenia ranked the 45th in the Doing Business-2015 index of the World Bank (WB) and the International Financial Corporation (IFC).

Armenia 45th in Doing Business-2015

YEREVAN, October 29. /ARKA/. Armenia ranked the 45th in the Doing Business-2015 index of the World Bank (WB) and the International Financial Corporation (IFC).

According to the report, Armenia is between the Czech Republic (44th) and Rwanda (46th), ahead of Turkey, Italy, Luxemburg, Greece and Cyprus.

The ranking assesses comfort of doing business in 189 countries.

The new Doing Business calculation model includes several new criteria on access to loans, bankruptcy procedure and protection of minorities.

Singapore remains the best country to start up a business and develop it. The other four countries in the top five list are New Zealand, Hong Kong, Denmark and South Korea. Eritrea is the worst to set up a business in.

Georgia is the only post-Soviet country ahead of Armenia in the ranking (15th). Belarus ranked the 57th, Russia 62nd, Moldova 63rd, Kazakhstan 77th, Azerbaijan 80th, Ukraine 96th, Kyrgyzstan 102nd, Uzbekistan 141st and Tajikistan is 166th.

Armenia was the 37th in the Doing Business-2014, between Belgium (36th) and France (38th), ahead of Cyprus, Poland, Luxemburg and Italy. –0—

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