Business news

MINSK, 26 October (BelTA) – According to Doing Business 2017, Belarus is among the top five countries on the ease of doing business among middle-income countries, Young Chul Kim, World Bank Country Manager for Belarus, told reporters, BelTA has learned.

The reports indicates that Belarus is among the top ten countries in the world who have carried out the largest number of reforms to improve the business environment. This means that Belarus is one of the fastest-moving countries in what concerns progress in the rankings. In addition, the country is ranked among the leading middle-income countries creating conditions conducive for business, stressed Yang Chul Kim. Belarus is ranked 5th in this respect. The group leader is Macedonia (in the top ten in the overall ranking), followed by Georgia, Malaysia and Kazakhstan.

The head of the World Bank in Belarus noted that middle-income countries are viewed as the most promising destinations for investment. “Developed markets are quite stable, and profit margins that investors can get are small. Emerging, new markets are of greater interest. Once investors decide to consider investing in middle-income countries, Belarus will immediately catch their eye thanks to the good position in the rankings,” he said.

As was reported, Belarus is ranked 37th in the Doing Business 2017 ranking among 190 states. Last year the country was 50th. According to the latest report, Belarus is among the ten economies that have achieved the biggest improvements in their business regulations this year.