Azerbaijan advanced to 57th place in “Doing Business 2018” report

Economic reforms being conducted in Azerbaijan are in the focus of attention in the reports traditionally published in the sphere of evaluation of business environment. One of such reports is “Doing Business” – developed by World Bank, which reflects the estimation of business environment effectiveness. As a result of realization of economic reforms package of the President of Azerbaijan Republic, in the next “Doing Business” report evaluating business environment of 190 countries, Azerbaijan moving forward for 8 levels and advanced to 57^th place improving its position by 6 indexes due to the successful reforms carried out during last year. Thus, in the report of “Doing Business 2018” announced on October 31, Azerbaijan moving forward 22 levels by “Protection of small investors’ interests” index and advanced to 10^th place, by “Property registration” index moving forward one level and advanced to 21^st place, by “Tax payment” index moving forward 5 levels and advanced to 35^th place, by “Provision of contracts fulfillment” moving forward 6 levels and advanced to 38^th place, by “Liquidation of enterprise” index moving forward 39 levels and advanced to 47^th place, by “Connection to power supply networks” index moving forward 3 levels and advanced to 102^nd place.

The report particularly focuses attention on the reforms carried out in our country in the field of legislation improvement for business environment enhancement by several indexes. Thus, in “Doing Business 2018” report Azerbaijan has been evaluated as one of the 3 countries of Europe or Central Asia conducting 4 or more reforms. Among the reforms carried out in Azerbaijan in “Doing Business 2018” report are especially noted the following ones: changes made in the Civil Code of Azerbaijan Republic on April 25, 2017 by “Protection of small investors’ interests” index, passing a bill on “Credit bureaus” of Azerbaijan Republic on October 28, 2016 by “Credit obtain” index, appliance of electronic payment of legal costs on “Government Payment Portal” by “Contracts signing” index, changes made in Azerbaijan Republic Bankrupt Law on “Bankrupt and defaulter” on April 25, 2017 by “Bankrupt solution” index.

Azerbaijan is among the first 50 countries top list by the following indexes: “Protection of small investors’ interests” (10), “Business start-up” (18), “Property registration” (21), “Tax payment” (35), “Provision of contracts fulfillment” (38), “Liquidation of enterprise” (47). The constant improvement of our country’s position in powerful international reports is the logical consequence of successful reforms carried out by the leadership of the President Azerbaijan Republic.