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Russia should be among top 20 countries for doing business — PM

December 11, 2014, 16:28 UTC+3 MOSCOW
Russia rose by 30 positions in a new Doing Business ranking of the World Bank (WB) released in late October, taking the 62nd place
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Russian Prime Minister Dmitry Medvedev

Russian Prime Minister Dmitry Medvedev

© TASS/Ekaterina Shtukina

Infographics Countries with the most favorable conditions for doing business Countries with the most favorable conditions for doing business
World Bank Group published a new Doing Business Report, assessing the simplicity of running business in 189 countries based on several factors. Infographics by TASS
MOSCOW, December 11. /TASS/. The priority task for Russia is to join the top 20 countries with favorable business climate conditions, although Moscow has already improved its positions recently, Russian Prime Minister Dmitry Medvedev said on Thursday.

“We have a strategic task of entering the top 20, but no for the sake of the figure, but just to allow normal work and normal business climate in the country, this is the key goal,” Medvedev told a meeting on implementing road maps of the national entrepreneurship initiative.

Russia rose by 30 positions in a new Doing Business ranking of the World Bank (WB) released in late October, taking the 62nd place, between Greece (61) and Moldova (63). In last year’s Doing Business ranking, Russia was 92nd between Barbados and Serbia. In 2010, Russia occupied the 124th place, and in 2011 - the 120th place in the ranking.

“In fact, we have improved our figures twofold,” Medvedev stressed.

The prime minister said not only the state but also the business community sees the changes taking place following implementation of road maps of the national entrepreneurship initiative.

Despite the fact that all the rankings are relative and their methodology is different, “the step forward is evident, and this is a move in the right direction,” Medvedev said.

The ranking, which assesses the comfort of doing business in 189 countries, said starting business in Russia is easier today than a year ago as the country has reduced administrative burdens for business start-ups.

The top 20 countries for doing business are Singapore, New Zealand, Hong Kong, Denmark, South Korea, Norway, United States, United Kingdom, Finland, Australia, Sweden, Iceland, Ireland, Germany, Georgia, Canada, Estonia, Malaysia, Taiwan and Switzerland.

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