For Russia, the most problematic factors for doing business are corruption and tax regulation.
Photo: Dmitry Dukhanin
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Corruption, Tax Regulation Are Most Problematic for Russia’s Business
The World Economic Forum released yesterday The Global Competitiveness Report 2008-2009. Russia climbed to the 51st position from the 58th place to equal India’s economy for the first time. Russia was the 59th in 2006. So, this year was the first of the recent years, when the WEF reflected the material improvement of Russia’s competitiveness despite the surge in inflation and liquidity crisis.
Russia’s progress in the WEF ratings doesn’t directly relate to the super high oil prices of the first half of this year. According to the masterminds of the report, Russia is amid the nations en route from efficiency-driven economy to the innovation-driven one. The Caribbean nations (Barbados, Trinidad and Tobago), Taiwan, the Baltic States, Chili, Turkey are in the same league.
Of interest is that economies of Brazil and China are yet to catch up with them. Those states are at the stage of transition from the group of the factor driven to efficiency driven, where the economies of Ukraine, Mexico and South Africa are positioned.
Profiles of the countries set forth the most problematic factors for doing business. For Russia, the leaders are corruption and tax regulation, which are followed by the access to financing, inefficient government’s bureaucracy and tax rates. In China, for instance, the access to financing and the policy instability are given as the key factors, while Brazil suffers from tax regulations, India has inadequate infrastructure and the key difficulty of South Africa is inadequately educated labor force.
www.kommersant.com
All the Article in Russian as of Oct. 09, 2008
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