According to the Ease of Doing Business Rankings published annually by the World Bank, Turkey was ranked 69th and 60th in 2017 and 2018 respectively. And now, as the 2019 report shows, it jumped 17 places at once to rank 43rd in the world. Here are 7 important developments rendering Turkey one of the best countries in the world for doing business.
- Per the evaluation, Turkey has received 88 points out of 100 in “starting a business” parameter and is very close to the European average of 90 points.
- While starting a business takes an average of 12.9 days in Europe, the same process resolves in just 7 days in Turkey.
- On the protection of minority investors parameter, Turkey was ranked 26th among 190 countries.
- Turkey’s score is 90.27 out of 100 in the trading across borders parameter. Reforms involving electronic processing in international trade, and improvements in customs and regulations have all helped Turkey to step up in this field.
- So, you had difficulties with your partners or enterprises you do business with? Turkey was ranked 19th in the “resolving of disputes” parameter, receiving 71 points, while the European average is 65.
- Last year, the country was ranked 96th in the parameter of “dealing with construction permits”, it climbed to 59th rank this year, owing to tightening regulations on quality management in the construction industry.
- The country climbed up from the 77th rank to settle at 32nd this year. On this improvement, increasing public sources of information on credits and collaterals, as well as legislative reforms played a significant role.