MONGOLIA RANKED 58TH "ON EASE OF DOING BUSINESS"

2008-09-22 13:58:01
Ulaanbaatar, /MONTSAME/ Doing Business 2009, sponsored by The International Finance Corporation and the World Bank, puts Mongolia 58th, three places down from last year, amongst the world's 181 economies on the overall ease of doing business.
This is the sixth year that the Annual Report has been issued. Doing Business ranks economies based on 10 indicators of business regulations that track the time and cost to meet government requirements in starting and operating a business, trading across borders, paying taxes and closing a business. Singapore leads the global rankings on the overall regulatory ease of doing business for the third consecutive year.
"Mongolia is included among the top 11 countries in East Asia which have made reforms in paying taxes and trading across borders. Documents needed for export were reduced from 10 to 8 and total time reduced by 9 days," the report says.
David W. Lawrence, a Program Manager of the International Finance Corporation, said Mongolia should be proud of its very positive indicators and, even though some indicators had slipped compared to the previous year, this meant the other progress in the country was performing rapidly.
S.Batbayar
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