The World Bank issued annual ranking of countries on the ease of doing business (Doing Business). A high ranking on the ease of doing business index means the regulatory environment is more conducive to the starting and operation of a local firm.

Armenia is ranked 48 among 183 states, whereas Georgia - 12. Azerbaijan is 54, Turkey - 65 and Iran - 129.

Ranking is formed based on several criteria: ease of doing business, dealing with construction permits, registering property, getting credit, protecting investors, paying taxes and others.

The top 10 of attractive countries for doing business includes Singapore, Hong Kong, New Zealand, the UK, the U.S., Germany, Canada, Norway, Ireland and Australia.    

Russia is ranked 123 next to such states as Papua New Guinea and Cambodia.