Turkey ranks 55 out of 189 countries in ease doing business: Report

Turkey ranks 55 out of 189 countries in the World Bank’s latest annual Ease of Doing Business report, dropping four spots from last year mainly due to the rise in company registration fees Turkey ranked 55 out of the 189 countries surveyed for the World Bank’s latest annual Ease of Doing Business report, dropping four spots from last year.

“Turkey dropped to 55th place in the list this year out of 189 counties, from 51st on last year's updated list. This tiny drop was caused by the increase in the minimum capital requirements in Turkey," said the World Bank's Turkey Director Martin Raiser in a written statement on Oct. 29.

"We can say that Turkey is in a good position in terms of ease of doing business and it has a score that can be expected from an upper-middle income country, but it needs to make more reforms to compete with the best performers in the list,” Raiser added.

Turkey originally ranked 69 in the report last year, but it rose to 51 after the World Bank made changes to its calculation method.

The ease of doing business ranking is now based on the "distance to frontier" score. This measure shows how close each economy is to global best practices in business regulation. A higher score indicates a more efficient business environment and stronger legal institutions, according to the World Bank report.

“When the distance to frontier score is taken into consideration, we see that Turkey’s score has increased. This is very good,” said Raiser.

However, the report stated that Turkey had made starting a business more difficult by increasing notary and company registration fees. It also added that Turkey had made doing business harder by increasing companies' social...