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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 1st 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.

Kyrgyzstan takes the 108th place. The growth of the republic’s GDP is 4.6 percent, and the GDP per capita is $ 1,200.

«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 (34th place) and investor protection (37th place). It indicators are worse in technology (73rd place), trade and monetary freedoms (both — 101st place).

Kyrgyzstan has the worst indicators in personal freedom (110th place), corruption (123rd place), innovations (125th place) and tax burden (126th place).

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

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

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

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