Russia in Doing Business rating
Nov, 28 2018
Russia ranked 31st in a new rating of ease of doing business, which was published by the World Bank. Compared to the last year’s rating, it raised on four positions, although in 2011 it ranked 124th.
Russia’s most significant progress is in access to construction activity. Country raised from 115th to 48th place. Time periods for issuance of construction permits have significantly decreased, checks have become more efficient, and many public services have been provided in electronic form.
Russia’s strong suits are ease of property and business registration (12th place in each category). Russia kept high position in sphere of commercial dispute resolution. An average dispute in Russian arbitration court takes up to 337 days, and in neighboring countries up to 496 days.
It is also worth noting that Russia raised from 29th to 22nd place in credit availability.
Russia has a significant lag in two directions. Taxation – 53rd place. The World Bank’s experts point that the time spent in Russia in order to prepare tax declarations and pay taxes is about 168 hours per year.
Minority investors protection – 57th place. Experts emphasized the fact that Russian managers are rarely prosecuted for inappropriate use of company assets.