Kazakhstan moved up 15 places in Doing Business-2011 rating

ASTANA. November 4. KAZINFORM /Kanat Kulshmanov/ Kazakhstan moved up 15 places in rating "Doing Business-2011: Making a difference for Entrepreneurs". Senior private sector development specialist Svetlana Bagaudinova has made it public at the online press conference today.

"Kazakhstan takes 59^th place among 183 countries this year", she said.

According to the data of the World Bank, the procedure of starting a business was simplified due to reduction of minimum capital requirements by KZT 100 and abolishment of the requirement to notarize the memorandum and articles of association.

Besides, Kazakhstan simplified the process of obtaining a construction permits due to introduction of the Single Window System and adoption of an approach based on risks assessment in approval of applications for issuance of building permits.

The first place of the rating is traditionally taken by Singapore, followed by Hong Kong and New Zealand.