Russia advances in Doing Business rankings: World Bank
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
MOSCOW (Reuters) - Doing business in Russia became easier over the past year but Moscow needs to work on increasing competition in the economy, the World Bank said on Tuesday.
Russia advanced to 40th of 190 countries in the World Bank's 2017 business rankings from 51st in 2016, between Bulgaria and Hungary and closer to an ambitious target set by President Vladimir Putin to enter the top 20 by the end of the decade.
"In past years, Russia has been active in reforming across multiple areas of business regulation," said Andras Horvai, World Bank Russia Country Director.
"In some aspects of Doing Business, the business regulatory environment of Russia is now closer to best practice."
The World Bank noted that Russia is doing well when it comes to registering property and enforcing contracts. Dealing with construction permits also became easier over the past year.
But Russia still has room to improve, particularly by increasing competition in the economy, he said.
The highest-ranked country for ease of doing business was New Zealand, while Somalia came in last, the World Bank said.
Despite an economic crisis and geopolitical tensions with the West, Russia has been climbing the rankings in recent years.
The Doing Business study focuses on regulation that affects small and medium-size enterprises across 11 areas. These include starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and others.
(Reporting by Andrey Ostroukh; Editing by Catherine Evans)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Threat called in against Los Angeles Red Line commuter rail system: officials
- Brazil's indicted Senate head removed by Supreme Court
- Asia stocks bounce as risk appetite returns after Italy vote
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!