In 2017 Kazakhstan ranked 35th position in the World Bank "Doing Business" rating
By the commission of the President of the Republic of Kazakhstan N.A.Nazarbayev on the Kazakhstan’s entering to the «Doing Business» Global bank rating of 30, the Government of the Republic of Kazakhstan was conducted a significant work upon the country’s business-climate and rating positions improvement.
Kazakhstan in the rating of the World Bank «Doing Business 2017» ranked 35th position, increasing its ranking by 16 points compared to «Doing Business 2016» where our country took the 51st position.
Kazakhstan left behind such OECD countries as Belgium (42), Italy (50), Israel (52), Greece (61), Turkey (69). Also among the countries of Eurasian Economic Union Kazakhstan left behind Belarus (37), Armenia (38), the Russian Federation (40) and Kyrgyzstan (75).
The World Bank distinguished the top 10 countries with a high proportion of reforms to improve the business climate, where Kazakhstan won the 2nd position on 7 indicators of the rating. Kazakhstan is also marked as the best reformer for the fourth time in the last 12 years. Kazakhstan has entered the top three ranking countries on «Protection of minority investors» indicator, taking the 3rd place.
For the second year Kazakhstan is in the top ten countries in «enforcing contracts», taking the 9th place and possessing the position by «Registering Property» indicator and thus, taking the 18th place.
The significant breakthrough of Kazakhstan in the rating is marked on such indicators as «Dealing with construction permits» (the 22 place) and «Connecting to electricity supply networks» (the 75th place).
Kazakhstan’s position on indicator of «Insolvency resolution» is on the 37th place, «The registration of companies» is the 45th place, «Taxation» is the 60th place, «Getting Credit» is the 75th place, and «International Trade» is the 119th place.
The favorable countries for doing business in the World Bank ranking of «Doing Business 2017» are New Zealand (1), Singapore (2), Denmark (3), Hong Kong (4) and South Korea (5).
For «Doing Business» rating’s positions improvements advanced the system work of the Government of the RK, conducting in accordance with the commission of Head of the state on a comprehensive solution of the business-climate’s improvements. For example, unprecedented measures were assumed on the functional sphere and administrative pressure reduction on business, through the applicable legislation reforming, regulatory approval system improvement, business creation and state monitoring and control activity’s optimization.
Ministry of National economics of the Republic of Kazakhstan conducted significant reforms on the Kazakhstan’s positions improvement in «Doing Business» rating of the permits on the building, and International trade obtaining procedures simplification indicators.
Global Bank’s report noticed that the reforms implementing by Kazakhstan significantly simplify the conditions of business conduction in country.
For example, in the sphere of objective to be achieved were accepted three packages of amendments in legislation, directed to the procedures quantity reduction, terms and financial charges of business. It is will provide an opportunity to degrade the assignment for the entrepreneurs.
Global Bank group also admonishes the reforms of the Government of the RK upon the following directions:
Registration of enterprises
Kazakhstan simplified the procedures on enterprises registration with the cancellation of payment for the small and medium-sized businesses by abridging the registration terms and company’s stamp using requirement’s cancellation.
Obtaining the permissions on building
Kazakhstan simplified the procedures of the permissions on building by cancellation the requirement of implementation the land parcel topographic shooting.
Power supply connection
Kazakhstan has reduced terms of technical connection conditions to the power supply networks – from 14 to 5 days for the consumers with set power of power installation up to 200 kW. The term of approval of the consumer project decisions with power transfer organizations was increased up to 3 days (from 20). The necessity of receipt of permit for construction-installation works was excluded. Now projector has to send a notice on works beginning in electronic form to the state architecture-construction control administration. Moreover, the necessity of receipt of permit for the connection to power lines from the body of State Energy Supervision and control was excluded. The week term of agreement making for the energy supply with energy supply organization was reduced for 3 days.
Minority investor’s assertion
Kazakhstan enhanced the measures on the minority investors assertion by adding the new contributions that require immediately information disclosure of bargains with connected persons and detailed information in yearly financial reports; admitting a various methods of getting the court evidences; admitting the requirement that the changes in the rights connected with a part of enterprise are liable for the confirmation of two-thirds of other auctioneers votes; prohibiting to the affiliated undertakings to take up shares, that issued by the associated company; and requiring the information disclosure of the case when the board members appear as the other companies’ managers and of their previous work places.
Contract performance bond
Kazakhstan simplified the contract performance bond by the compact procedure application of minor lawsuits and by optimization of the law administration procedures and rules.
Pay inability sanction
Kazakhstan simplified the pay inability sanctions procedure with admission for creditors to initiate the reorganization procedures by encouraging the assets sale, also optimized the bankrupts regulations with admission of sponsorship and advantages granting owed to exist uncovered requirements.
Kazakhstan has increased the number of documents, reduced procedures with the custom and tax services, economy investigation service.
Last update: 31.10.2017