Turkey’s World Bank’s Business Index improves of 27 places
The Turkish vice president Fuat Oktay, has announced yesterday October 24th that Turkey rose in World Bank’s Ease of Doing Business by 10 places to be the 33rd within 190 countries.
It has made a jump of 27 places compared to the index reached two years ago when Turkey was at the 60th position. But despite this remarkable progress, the Turkish government is still not satisfied yet and it is ambitious to reach the 20th place, the reason why Turkey will keep on supporting foreign investors to make direct investments in the country.
Real estate reforms, a factor of this improvement:
The report stated that Turkey took the 33rd place in the 2020 edition with a score of 76.8 while New Zeeland stand in the first place with a score of 86.8.
This improvement has started 2 years ago when Turkey became in the 60th place in 2018 after it was 69th in 2017 to reach the 473th place in 2019 and finishes in the 33rd place currently.
It’s thanks to the reduce of property registration tax. Thus, it eased taxes granting a value added tax exemption for some capital investments.
Turkey will continue to make reforms to increase efficiency and reduce time and cost to finally reach it targets being 20th in the list.