Azerbaijan is among notable reformers in Europe and Central Asia region, the World Bank said in its Doing Business 2018 report.
The rankings are based on the average of each economy’s distance to frontier scores for the 10 topics included in this year’s aggregate ranking. This measure shows how close each economy is to global best practices in business regulation. A higher score indicates a more efficient business environment and stronger legal institutions. Thus, Azerbaijan’s position in this report has improved compared to the last year’s report.
The World Bank said that during the reporting period, Azerbaijan has carried out four reforms, as compared to three during the previous reporting period.
“The region’s economies perform well in the Doing Business areas of Protecting Minority Investors (with an average rank of 47) and Registering Property (47). Economies in the region have efficient land registries and it takes only 20 days to transfer a property, 2 days less than the average across OECD high-income economies,” said the report.
However, the World Bank analysts noted that the region underperforms on Dealing with Construction Permits (88) and Getting Electricity (86).
Azerbaijan joined the World Bank in 1992.