Best Countries for Business - 2014: Armenia is leader in CIS according to ‘‘Forbes’’ rating

Armenia occupies the 56th place in the new rating list of Forbes called “Best Countries for Business - 2014". It is ahead of its neighbors in the CIS: Azerbaijan is on the 60th place, Russia (91st place), Moldova (75th place) Ukraine (88th place), Kyrgyzstan (101st place), etc.

Among the regional states Georgia is on the 47th place, Turkey on 50th, Iran-132nd.

According to the publication, Armenia has improved its position by the "monetary freedom" criteria and "tax burden".

As for the neighboring Azerbaijan, it is estimated that the country has worsened its position in the "personal freedoms" criteria. "Azerbaijan has had a limited progress only in the market-oriented economic reforms. Corruption in the private sector and structural economic weaknesses remain an obstacle to growth, especially in the non-energy sector," “Forbes” reads.

It is noteworthy that the United States in the ranking list has appeared on the 18th place, losing its positions five years on end. The best country for business in 2014 according to Forbes is Denmark. The top three countries are Hong Kong and New Zealand. Last year, Ireland was in the leading position of the rating.

146 countries have been included in the “Forbes” rating. Their achievements have been studied according to 11 positions. This are: level of personal freedoms, the degree of protection of property rights and investment, price stability, the presence of barriers to exports and imports of goods and services, the level of technological development, innovation, degree of influence of the state on business, corruption, tax burden and the state of the stock market.

While compiling the rating, the data of “Freedom House”, “Heritage Foundation”, “Property Rights Alliance”, “Transparency International”, “The World Bank” and “World Economic Forum” (WEF) have been used.