AZERBAIJAN MOVED TO 25 IN DB 2019 RATING
According to the report, which the World Bank Group publishes annually on the “ease of doing business” based on 10 indicators of life of business in 190 countries, in 2019 in the Republic of Azerbaijan the ease of starting business increased and the country moved for more than 30 positions, from 57 to 25 in the rating compared to 2018.
It was achieved by implementing 8 of 10 indicators, managing to be listed as one of the most improving 10 economies worldwide.
Establishing a business in Azerbaijan, in comparison with other countries in the region, becomes more and more affordable.
The reason is that the government tries to ease the procedures by reducing time, state fees and paper work. For instance, by creating a single window service, the government has streamlined the process for obtaining a construction permits by reducing the processing time by 80 days and cost at about $7,500.
By increasing the shareholders’ rights and the role they play in major corporate decisions the central government better safeguarded the minority investors.
The statistics show that the total number of foreign entrepreneurs registered in Azerbaijan, currently account for more than 15 percent of all legal business entities in the country.
Source link: Doing Business Report 2019 - World Bank