Almaty, October 23, 2012—A new IFC and World Bank report finds that important reforms are in progress in Central Asian countries, aimed at making it easier for firms to do business; while also presenting areas where firms still face significant obstacles to develop.
The report “Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises” highlights the importance of a conducive business environment for competitiveness, economic growth and job creation. In particular, the report focuses on smarter business regulations that promote entrepreneurship and productivity; lower cost registration that improves formal employment opportunities; an effective regulatory environment that boosts trade performance; and sound financial market infrastructure that improves access to credit to enable firms to invest and operate.
“The positive results achieved by some countries in the region demonstrate the fact that reforms can take place when there is strong commitment from authorities,” said Saroj Kumar Jha, World Bank Regional Director for Central Asia. “However, the reform to the business environment is not a one-time event, but a continuous effort that requires sustained commitment from authorities and engagement of all relevant stakeholders.In this regard, we encourage the creation of a Forum for Public - Private Dialogue in each country in the region, to ensure that reform priorities going forward reflect fully the needs of the private sector”
The report shows that the top performing economies combine efficient regulatory practices with strong legal institutions. In this regard, Mr. Jha emphasized the need for the business environment to focus on enabling competitiveness and added: “No amount of reforms will unleash the competitiveness potential of firms if those reforms remain only on paper. Closing the gap between the written law and the practice in business regulation requires the active collaboration of society and authorities. The World Bank is committed to continue collaborating with authorities in Central Asia in support of their efforts to enhance the business environment in the region.”
About the Doing Business report series
Doing Business analyzes regulations that apply to an economy’s businesses during their life cycle, including start-up and operations, trading across borders, paying taxes, and protecting investors. The aggregate ease of doing business rankings are based on 10 indicators and cover 185 economies. Doing Business does not measure all aspects of the business environment that matter to firms and investors. For example, it does not measure the quality of fiscal management, other aspects of macroeconomic stability, the level of skills in the labor force, or the resilience of financial systems. Its findings have stimulated policy debates worldwide and enabled a growing body of research on how firm-level regulation relates to economic outcomes across economies. This year’s report marks the 10th edition of the global Doing Business report series. For more information about the Doing Business report series, please visit www.doingbusiness.org. Join us on Facebook.
About the World Bank Group
The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. It comprises five closely associated institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Each institution plays a distinct role in the mission to fight poverty and improve living standards for people in the developing world. For more information, please visit www.worldbank.org, www.miga.org, and www.ifc.org.
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