Kazakhstan improved its business regulation the most among the world’s economies in the past year, according to Doing Business 2011: Making a Difference for Entrepreneurs, an annual report recently published by IFC and The World Bank.
During the global financial crisis Kazakhstan significantly improved conditions for starting a business, obtaining construction permits, protecting investors, and trading across borders. As a result, it moved up 15 places in the rankings on the ease of doing business to 59 among 183 economies.
As noted by the World Bank Regional Director in Central Asia Motu Konishi at the press conference held after release of the report, “Kazakhstan has held a large amount of regulatory reforms aimed at easing conditions of doing business in Kazakhstan and making the life of entrepreneurs easier. Realizing its anti-crisis program.” Konishi noted that Kazakhstan not only adequately reacted to all the difficulties brought on by the crisis, but also improved business climate in the country through efforts from key players as well as private and public partnerships.
One of the most notable improvements is change to Kazakhstan’s taxation policies, which moved Kazakhstan 14 positions up, to 39th place, which is the highest rank among CIS countries. Such improvement in rating was caused by Kazakhstan’s adoption of the new Tax Code with active input from the representatives of local business community.
The study was prepared on the basis of interviews with more than 50 respondents, 80% of which are from the private sector, and 20% represent state authorities. The study was prepared in 2009-2010.
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[...] most recent annual survey on ease of doing business by the World Bank and IFC promoted Kazakhstan up by 15 places up to 59th [...]