Azerbaijan among top 20 reformers in Doing Business

The World Bank Doing Business names Azerbaijan as one of the world’s top 20 most improved economies.

In the latest edition of the World Bank's Ease of Doing Business 2020 published on October 24, Azerbaijan is ranked 34th out of 190 countries and commended for reforms in the area of registering property, getting credit, protecting minority investors and enforcing contracts.

The report points to Azerbaijan as the economy making property registration easier and more transparent by increasing the coverage of its cadaster and digitizing cadastral plans.

The economy strengthened access to credit by allowing non-possessory security interests in one category of movable assets without any restrictions on the use of inventory, including future assets extending automatically to products, proceeds and replacements of the original collateral. Azerbaijan also allowed general description of the debts and obligations as well as out-of-court enforcement of security interests.

Among other reforms, minority investor protections were strengthened after liability was imposed on directors for unfair related-party transactions.

Enforcing contracts was streamlined by introducing an e-system that allows plaintiffs to file the initial complaint electronically and by adopting a consolidated law on voluntary mediation.

The top 20 reformers are the economies that improved the most on the ease of doing business across 10 different regulatory areas in the Doing Business 2020. The other economies featured in the top 20 list include Bahrain, Bangladesh, China, Djibouti, Jordan, Kenya, Kosovo, Kuwait, Kyrgyzstan, Myanmar, Nigeria, Pakistan, Qatar, Saudi Arabia, Tajikistan, Togo, Uzbekistan and Zimbabwe.

Doing Business 2020 is the 17th in a series of annual studies measuring regulations worldwide in 12 business regulatory areas to assess the business environment in each economy. Ten of these indicators were used to estimate an ease of doing business score this year, over the 12 months ending April 30, 2019.

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