Kyrgyzstan took the 80th place in the Doing Business ranking 2020, although it was at the 70th place last year. Country Office of the World Bank in Kyrgyzstan reported.
It is noted that the downturn is associated only with improvement of the methodology and revision of some data.
«Using a comparable methodology, the indicator of ease of doing business in Kyrgyzstan grew from 65.4 points out of 100 in last year’s report to 67.8 this year. In other words, Kyrgyzstan is reducing the gap with world leaders in the ranking,» said Bolormaa Amgaabazar, the World Bank Country Manager for the Kyrgyz Republic.
Three reforms have been carried out in Kyrgyzstan, which significantly improve the regulatory framework for doing business.
The country has improved the reliability of energy supply by tightening control over power outages and modernizing its infrastructure. Kyrgyzstan has simplified payment of taxes by combining interest income tax with corporate income tax and introducing a system for submitting tax reports and payment of taxes through an online platform.
Kyrgyzstan has the highest indicators in terms of ease of registration of property (7th place) and taking a loan (15th place), the worst — connection to electric networks (143rd place) and enforcement of contracts (134th place).
Kazakhstan has the best indicator among the closest neighbors, which took the 25th place in the ranking. As for other neighboring countries, Tajikistan took the 106th place.
Uzbekistan took the 69th place, Ukraine — 64th, Belarus — 49th, Moldova — 48th, Armenia — 47th, Azerbaijan — 34th, Russia — 28th.
New Zealand and Singapore took the top places in the ranking, and the last — Eritrea and Somalia.