Tuesday, September 19, 2006

One Small Step for Russia, Nineteen Big Steps for Kazakhstan

The World Bank and IFC recently released their annual ranking of 175 countries by the ease of doing business. Russia inched up slightly in the overall rankings, from 97th to 96th. Kazakhstan, however, made an impressive jump of 19 places up to 63rd among the reviewed countries. This places it in 3rd place among non-EU NIS countries, behind Armenia (34) and Georgia (37). Georgia's rise in the rankings in 2006 was nothing short of explosive: it leaped up 75 places in the rankings.

Relative to its peers among "BRIC" countries, Russia appears to be in pretty good shape: it is only 3 places behind China, and a decisive 25 places ahead of Brazil and 38 places ahead of India! Knowing the business climate in Russia, it's scary to think it's THAT difficult to do business in the world's largest democracy.

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