The Republic of Belarus ranked 37th in the World Bank's Doing Business 2019 research
The Republic of Belarus ranked 37th in the World Bank's Doing Business 2019 research.
Over the past years, our country has consistently maintained its position in the top 40 countries with the best business conditions according to the World Bank’s Doing Business research.
Belarus has traditionally represented among the leaders of the indicator "Registration of property (5th place), as well as in the top thirty countries in the world with the best conditions for doing business of indicators:
"Connection to the power supply system" (20th place);
“International Trade” (25th place);
"Enforcement of contracts" (29th place);
"Registration of enterprises" (29th place).
Rating score on the indicator "Getting loans" is improved (85th place, +5 points). At the same time, such areas of activity as “Protection of minority investors” (-11 points), ”Resolution of insolvency (–4 points), and“ Taxation ”(-3 points) require improvement.
According to the World Bank’s reports since 2005 (Doing Business 2006 report), 39 reforms of the business environment have been carried out in our country, including 2 of which were realized this year, in particular:
the procedure for creating enterprises was simplified by eliminating the obligation to purchase and register an audit book at the beginning of operations (the period for acquiring an audit book was extended from 1 month to 6 months);
the procedure for obtaining construction permits was simplified by ensuring that technical conditions can be obtained through the “single window” system.
It is necessary to note that “Doing Business 2019” covered the period from July 1, 2017 to May 1, 2018. Due to the lack of law enforcement practice, the research did not reflect a number of measures to improve the business environment, implemented at the end of 2017 and in 2018 as part of the “liberalization package” adopted by the Head of State. These reforms are to be counted in Belarus in the next World Bank reports.
According to the World Bank’s methodology, the Doing Business report reflects only those reforms that were implemented during the period under study for the purposes of the report and their use in practice was confirmed by more than half of the respondents surveyed.
At the same time, the goal of the reforms undertaken by the Government of the Republic of Belarus to improve the business climate is not to “race” for places in the ranking, but to increase investment activity of small and medium enterprises in all regions and the investment attractiveness of the Belarusian economy.
The Government of the Republic of Belarus intends to continue the implementation of a complex of reforms in all areas of business, including the positive experience of foreign countries and the recommendations of the World Bank.