Kazakhstan has jumped considerably in the World Bank’s Doing Business 2019 ranking, rising to 28th place out of 190 countries
Significant progress in reducing red-tape, simplifying the business registration procedures and enhancing legal protection of investors has propelled the country into the top 30 for the first time. In just five years Kazakhstan has climbed 25 places, jumping over leading economies, such as France, Poland, Japan, Turkey and the Netherlands.
The World Bank’s business-report that monitors the ease of doing business in different countries of the world singled out Kazakhstan as the economy establishing best performance indicators and noted its extensive protection of the rights of small shareholders.
Owing to the governmental program of reforms, it now takes you only five days to start up a business in Kazakhstan that is much faster than the regional average of 11 days. The World Bank notes that reforms continue to take place in the right regions of Kazakhstan, so that it is easier for small- and medium-sized business to operate.
The strategic land corridor, linking Europe and Asia and making it easier to trade across borders, is of obvious priority for Kazakhstan. Last year the government has introduced the electronic customs declaration system, as well as reduced the customs administrative fees, the two reforms the World bank highlighted praiseworthy.
Kazakhstan significant investment in its road and railway network now means that it takes only 14 days to deliver goods from China to Western Europe, three times faster than via traditional sea routes.
Over the last decade, Kazakhstan has implemented a series of strong business-reforms which are obviously effective. Kazakhstan is now one of few countries to reform all indicators of Doing Business since the report published in 2004.
Kazakh Invest, the national company aimed to attract high-quality investment in Kazakhstan, has recently headed a series of global investment roadshows in order to cover large scale reforms in the country. According to the report of Doing Business, in all, nineteen countries of Europe and Central Asia have implemented 54 regulatory reforms directed to improve the business-environment throughout 2018.
The World Bank extended a loan in several areas, including simplifying tax registration, social insurance registration and licensing, as well as improving contract performance by introducing electronic automation of courts.