The World Bank Group has released their "Doing Business 2015: Going Beyond Efficiency" report, in which Armenia's ranking has improved. Armenia's position improved from 49th place to 45th.
Business was made easier in Armenia by streamlining post-registration procedures, according to the World Bank Group.
Azerbaijan is among the top 10 improvers worldwide due to its reforms in starting businesses, registering property, and paying taxes. Georgia is ranked highest within the surrounding region at 15th place.
Turkey has a rank of 55, Azerbaijan at 80, and Iran at 130.
The report finds that Singapore tops the global ranking on the ease of doing business. Joining it on the list of the top 10 economies with the most business-friendly regulatory environments are New Zealand; Hong Kong SAR, China; Denmark; the Republic of Korea; Norway; the United States; the United Kingdom; Finland; and Australia.
The annual World Bank Group flagship Doing Business report analyzes regulations that apply to an economy’s businesses during their life cycle, including start-up and operations, trading across borders, paying taxes, and resolving insolvency.
Read the full report.