Azerbaijan becoming more attractive for business
Azerbaijan is among notable reformers in Europe and Central Asia region, the World Bank said in its Doing Business 2018 report.
Azerbaijan ranked 57th among 190 countries in the Doing Business 2018. The distance to frontier score stood at 70.19. This is while in the previous report, Azerbaijan ranked 65th and scored 67.07.
The rankings are based on the average of each economy’s distance to frontier scores for the 10 topics included in this year’s aggregate ranking. This measure shows how close each economy is to global best practices in business regulation. A higher score indicates a more efficient business environment and stronger legal institutions. Thus, Azerbaijan’s position in this report has improved compared to the last year's report.
The World Bank said that during the reporting period, Azerbaijan has carried out four reforms, as compared to three during the previous reporting period, Trend reported.
“The region’s economies perform well in the Doing Business areas of Protecting Minority Investors (with an average rank of 47) and Registering Property (47). Economies in the region have efficient land registries and it takes only 20 days to transfer a property, 2 days less than the average across OECD high-income economies,” said the report.
However, the World Bank analysts noted that the region underperforms on Dealing with Construction Permits (88) and Getting Electricity (86).