Armenia improved its ranking in the recently released World Bank’s Doing Business 2017 – Equal Opportunity for All report, inching up to 38th spot from last year’s 43rd.

190 countries were included in the report, ranking economies on their ease of doing business.

Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

Areas that registered improvement in Armenia were Getting Credit, Getting Electricity and Enforcing Contracts.

Georgia, Armenia’s neighbor to the north ranked 16th. Azerbaijan came in 65th and Turkey, 69th. Russia ranked slightly behind Armenia in the 40th spot.

A few of the report’s main findings are:

Brunei Darussalam, Kazakhstan, Kenya, Belarus, Indonesia, Serbia, Georgia, Pakistan, the United Arab Emirates, and Bahrain were the most improved economies in 2015/16 in areas tracked by Doing Business. Together, these 10 top improvers implemented 48 regulatory reforms making it easier to do business.

Economies in all regions are implementing reforms easing the process of doing business, but Europe and Central Asia continues to be the region with the highest share of economies implementing at least one reform—96% of economies in the region have implemented at least one business regulatory reform.

See the statistics for Armenia HERE