Russia has moved up eight positions, to 112th place from 120th, according to Doing Business 2013, an annual report compiled by the World Bank and the International Finance Corporation.
Russia, which currently stands between Palau and Salvador, doubled its progress comparing to last year’s report, when it moved from 124th to 120th place.
Russian President Vladimir Putin signed in May a decree on the long-term state economic policy, which in particular outlines the tasks of Russia’s position improvement in the World Bank’s Doing Business rankings from 120th place in 2011 to the 50th in 2015 and further to the 20th in 2018.
This year’s Doing Business 2013 report is the tenth since it was first issued and embraces 185 countries. The report focuses on the norms of regulations that either promote for or obstruct business development and studies the level of investors’ rights protection.