Armenia is ranked 45th in World Bank Group’s Doing Business 2015 rankings, which means a 4-place improvement as compared to the 2014 report.
Other countries in the region are placed as follows: Georgia is 15th, Russia is 62nd, Turkey is 55th, Azerbaijan is 80th and Iran is 130th.
Singapore tops the list of business-friendly economies globally, while five of the top 10 most improved countries are in sub-Saharan Africa.
The 12th annual report finds that the 10 economies with the most business-friendly regulatory environments are Singapore; New Zealand; Hong Kong SAR, China;Denmark; the Republic of Korea; Norway; the United States; the United Kingdom;Finland; and Australia.
The report measures the ease of doing business in 189 economies based on 11 business-related regulations, including business start-up, getting credit, getting electricity, and trading across borders. The report does not cover the full breadth of business concerns, such as security, macroeconomic stability, or corruption.
This year’s report, “Doing Business 2015: Going Beyond Efficiency,” uses new data and methodology in three areas: resolving insolvency, protecting minority investors, and getting credit.