Economy, Domestic Economy
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Efforts to Improve ‘Ease of Doing Business’ Rank

Efforts to Improve ‘Ease of Doing Business’ Rank Efforts to Improve ‘Ease of Doing Business’ Rank

Deputy Minister of Economic Affairs and Finance, Shapour Mohammadi says he expects Iran’s ranking in the World Bank’s ease of doing business index to improve in 2016.

Iran ranked 130th in the World Bank’s ranking of 189 countries in 2015, an improvement over its rank of 132 in 2014 and 152 in 2013.

Mohammadi said his office has been in contact with the World Bank over the past months, updating the organization on regulatory reforms carried out to improve the business environment, Mehr News Agency reported.

Reforms include reducing the complexities in obtaining construction permits, electricity and water by firms as well as in regulations pertaining to protection of small investors, he said, adding that the World Bank has already approved these reforms.

The government also plans to facilitate the process of issuing business permits using electronic systems, said Mohammadi.

The abovementioned areas, in addition to registering property, getting credit, paying taxes, trading across borders, enforcing contracts and resolving insolvency are the sub categories assessed by the World Bank while calculating the ease of doing business index.

“The government has also informed the World Bank of the revisions in taxes and customs regulations, but these reforms are still pending verification by the organization,” said the official.

The industrial strategic document published by the Ministry of Industries, Mining and Trade last week seeks a rank of 100 in 2018 and improving it eventually to 80 in 2021 and 60 in 2025.

Financialtribune.com