Russia advances in global Doing Business rankings to 28th position – World Bank

MOSCOW, Oct 24 (Reuters) – Doing business in Russia became easier over the past year as Russia advanced to 28th out of 190 countries in the World Bank’s 2020 business rankings, from 31st in the 2019 report, the World Bank said on Thursday.

Russia is now one notch below Austria, ranked 27th, but above Japan which is in 29th place. New Zealand remained the best place for Doing Business in the world, according to the World Bank, while Somalia was the worst.

Over the past year, Russia made getting access to electricity faster, strengthened minority investor protections by requiring greater corporate transparency, and made paying taxes easier, the World Bank said in an annual report. (Reporting by Andrey Ostroukh, editing by Andrew Osborn)