Azerbaijan ranked 71st out of 78 countries in terms of doing business according to the US News & World Report 2021, Report informs.
Only Azerbaijan is represented in this rating from the South Caucasus countries. Among the CIS countries, Russia ranked 22nd, Ukraine - 51st, Belarus - 57th, Kazakhstan - 75th, Uzbekistan - 76th.
Last year Azerbaijan ranked 64th out of 73 countries in this rating.
According to the US News & World Report methodology, the rating is based only on survey data. In 2021, 17,326 respondents participated in the survey (in 2020, there were more than 20,000 of them) from 36 countries in four regions - America, Asia, Europe, the Middle East, and Africa. The respondents were randomly selected according to three population groups: informed elites, business leaders, and the general public.
Most reputable rankings combine survey data with statistics, which tend to account for a larger proportion. Leading rankings on survey data are based on the expert opinion of respondents living in the assessed country who are directly involved in this area and are well aware of the current situation (Doing Business, Rule of Law Index, etc.). Therefore, information on Azerbaijan’s position in the ranking of the best countries for doing business cannot be used as an accurate assessment of the situation in the country and justification for making investment decisions.
In the leading study of the World Bank and the International Finance Corporation on ease of doing business, Azerbaijan shows an annual improvement in its position and is included in the top 30 countries (28th out of 191 countries). This study involves local business representatives who are aware of the problems and ongoing reforms in this area.
In 2019 and 2020, Azerbaijan was rated by the World Bank as “one of the ten most reforming countries in the world.”