World Bank Group: Doing Business in Belarus — it's pretty easy

Society
Researchers from The World Bank Group today voiced a report on how easy / difficult to invest in the economy around the world.

The report, titled "Investing Across Borders 2010", accounts for about two dozen parameters of ease / difficulty of conducting business for foreigners in 87 countries.

Certain parameters for the allowed level of foreign capital in various sectors of the economy, and measures the time needed to create a foreign company, access to land and arbitration of commercial disputes.

Belarus in the list looks like one of the most favorable countries for foreign investors.

For example, according to The World Bank Group, the base of a foreign firm in Belarus requires the founder of 7 days and time of the 6 different measures. For comparison, the parameters for Angola respectively — 263 days and 12 steps for Venezuela — 179 days and 19 steps for the United States — 11 days and 8 measures.

Below we give a comparison of six settings The World Bank Group — the permitted level of foreign ownership in the telecommunications, transport and media, and the average number of steps to create a foreign business, the average processing time rental of private and public land by foreigners — for five countries: Belarus, Poland , Russia, Ukraine, USA.

  Belarus Poland Russia Ukraine USA
foreign capital
in telecommunications (%)
75 100 100 100 100
foreign capital
a truck (%)
80 59.2 79.6 79.6 85
foreign capital
in the media (%)
30 74.5 75 15 62.5
time base
foreign firm (s)
7 33 31 28 11
the number of steps
to establish
foreign firm
6 7 10 11 8
Time to rent
private land (days)
34 146 62 50 44
Time to rent
public land (days)
97 162 231 209 92

The World Bank Group created by experts from the five institutions: the International Bank for Reconstruction and Development and the International Development Association (the two institutions are known collectively as the World Bank), the International Finance Corporation, the Multilateral Investment Guarantee Agency, the International Centre for Regulation of Investment Disputes.

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