Kyrgyzstan climbed five lines up in the Doing Business 2019 ranking and took the 70th place. The World Bank report says.
At the end of 2018, the republic scored 68.33 points, which is 2.57 points more than the 2017 figure.
The World Bank ranked Kyrgyzstan among the countries whose economies showed the greatest changes.
The authors of the report noted that Kyrgyzstan significantly changed its legislation to improve the business environment. It is about the adoption of the new Civil Code. The World Bank noted the positive work of Kyrgyzstan in expanding the role of shareholders in managing companies and improving export and import procedures. Significant changes have been made to civil procedures and law enforcement practices, and the possibilities for choosing ways to resolve disputes have been expanded.
The rights of creditors have been built, as they now have an access to information about the business and financial affairs of a debtor. Kyrgyzstan facilitated cross-border trade, simplified the export procedure to the countries of the Eurasian Economic Union.
The best conditions for doing business are in New Zealand (86.59 points), Singapore (85.24 points) and Denmark (84.64 points).
As for the nearest neighbors of Kyrgyzstan, Kazakhstan (28th place, 77.89 points), Russia (31st place, 77.37 points) and Armenia (41st place, 75.37 points) have the best indicators.
Ukraine (71st place, 68.25 points) and Uzbekistan (76th place, 67.4 points) take positions below Kyrgyzstan in the ranking. Tajikistan has the worst indicators among its closest neighbors, taking 126th place with 57.11 points. Turkmenistan is not presented in the ranking.