DUSHANBE, October 23, 2012, Asia-Plus — A new IFC (International Finance Corporation) and World Bank report has ranked Tajikistan 141st among 185 countries.
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.
Tajikistan has risen six places as compared to Doing Business 2012.
For example, Tajikistan has risen 40 places on the protecting investors subindex and 12 places on the registering property subindex.
Meanwhile, Tajikistan’s position on the remaining eight subindices has become worse as compared to the previous year. Tajikistan has fallen seven places on the registering enterprises category, two places on the dealing with construction permits subindex, three places on the getting electricity subindex, three places on the getting credit subindex, seven places on the paying taxes subindex, seven places on the trading across borders subindex, one place on the enforcing contracts subindex, and eleven places on the resolving insolvency subindex.
The new World bank Group 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 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.”
