Four Caspian Countries Recognized in the World Bank 2020 Report
Author:Caspian Policy Center
Oct 2, 2019
Below is the list of 20 economies, in alphabetical order, improving the most on ease of doing business score. Economies are selected based on the numaber of reforms and on how much their ease of doing business score improved. First, Doing Business selects the economies that implemented reforms making it easier to do business in three or more of the 10 areas included in this year’s aggregate ease of doing business score. Regulatory changes making it more difficult to do business are subtracted from the number of those making it easier. Second, Doing Business sorts these economies on the increase in their ease of doing business score due to reforms from the previous year (the impact due to changes in income per capita and the lending rate is excluded). The improvement in their score is calculated not by using the data published in 2018 but by using comparable data that capture data revisions and methodology changes when applicable. The choice of the most improved economies is determined by the largest improvements in the ease of doing business score among those with at least three reforms. Please note that the below list does not reflect the best performing/ranked economies, which will be disclosed at the time of Doing Business 2020 launch on October 24, 2019 at 9am EST.
- Azerbaijan made it easier to do business in four areas measured by Doing Business: registering property, getting credit, protecting minority investors and enforcing contracts. Registering property was made faster following the formal mapping and registration of every privately-held land plot in Baku, improving records and speeding up real estate procedures. Minority investor protections were strengthened after liability was imposed on directors for unfair related-party transactions. When commercial disputes arise, parties can now file summons online and receive financial incentives for pursuing mediation.
- The Kyrgyz Republic improved in the areas of getting electricity, getting credit and paying taxes. The electricity utility improved the reliability of power supply by enhancing the monitoring of outages and modernizing its infrastructure to reduce power outages. ISHENIM, the credit bureau, began offering a consumer credit scoring system to banks and other financial institutions to inform their lending decisions. The Kyrgyz Republic made paying taxes easier by consolidating the tax on interest income into the corporate income tax and by introducing an online platform for filing and paying taxes.
- Tajikistan made starting a business easier by integrating social protection registration into the company incorporation process. Tajikistan also strengthened access to credit by launching a unified, modern and notice-based collateral registry, broadening the scope of assets that can be used as collateral and granting secured creditors absolute priority. Moreover, customs authorities introduced several measures to prioritize and accelerate export customs clearance procedures for perishable goods.
- Uzbekistan made it easier to protect minority investors, pay taxes, enforce contracts and trade across borders. Amendments to the companies law strengthened minority investor protections by requiring independent board members and strengthening audit committees. The infrastructure tax was merged with the corporate income tax, a consolidated law on voluntary mediation established financial incentives when opting for mediation and customs began conducting risk-based inspections.