Kyrgyzstan takes 108th place in Forbes’ Best Countries for Business List

American Forbes magazine published a list of the Best Countries for Business. The United Kingdom takes the 1^st place in the ranking.

As authors of the list noted that «despite the uncertainty with Brexit, the United Kingdom takes the first place in terms of workforce capacity, innovation and lack of red-taping for the second year in a row.» GDP per capita in the United Kingdom is $ 39,700.

The magazine placed Sweden on the second line ($ 53,400), Hong Kong — on the third ($ 46,200). The top 10 also includes the Netherlands, New Zealand, Canada, Denmark, Singapore, Australia and Switzerland.

«The country has sought to attract foreign investment to expand its export base, including construction of hydroelectric dams, but a difficult investment climate and an ongoing legal battle with a Canadian firm over the joint ownership structure of the nation’s largest gold mine deter potential investors,» Forbes says.

Kyrgyzstan’s economic development continues to be hampered by corruption, lack of administrative transparency, lack of diversity in domestic industries, and difficulty attracting foreign aid and investment.

Forbes

When compiling the ranking, such indicators as property rights protection, technology, living standards, labor force qualifications and security of deposits were taken into account. Kyrgyzstan has the best indicators in terms of bureaucracy (34^th place) and investor protection (37^th place). It indicators are worse in technology (73^rd place), trade and monetary freedoms (both — 101^st place).

Russia takes the 55^th place ($ 10,700) in the ranking. Kazakhstan is on the 65^th place ($ 8,800), Azerbaijan — on the 70^th ($ 4,100).

Ukraine takes the 77^th place ($ 2,200), Armenia — the 81^st ($ 3,900), Moldova — the 87^th ($ 2,300), Belarus — the 88^th ($ 5,700).

Uzbekistan is ranked as 105^th ($ 1,500). Tajikistan takes 124^th place ($ 800).

In total, 161 countries were included in the list. According to the magazine, Guinea-Bissau ($ 700), Republic of the Congo ($ 1,700) and Central African Republic ($ 400) are the worst countries for business.