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Russia makes the top-50 in Bloomberg business rankings

0 23 January 2014

Russia was ranked in the top-50 for the first time in Bloomberg’s 2014 “Best Country for Doing Business Rankings”, after it climbed from 56th to 44th place. 

This is significantly higher than Russia’s position in the World Bank’s Ease of Doing Business rankings, which put Russia in 92nd place

However, Russia fares better in comparison to the other BRICs in the World Bank rankings, in which it is higher than Brazil, China and India. In the Bloomberg rankings China is 28th (having fallen from 19th), and Brazil 38th. Only India is below Russia, in 48th place. 

The Bloomberg rankings are based on the cost of setting up a business (20%), the cost of labour and material (20%), the cost of moving goods (20%), less tangible costs (20%), readiness of the local consumer base (10%) and degree of economic integration (10%). 

Russia’s score of 61.6 was significantly brought down by a 39.3 in the “less tangible costs” category, a score based on the Corruption Perception Index, International Property Rights Index, inflation, accounting adaptability and various taxation concerns. 

Top image via Shutterstock.

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