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Azerbaijan ranks 70th among best countries for business in 2018

22 December 2017 08:38 (UTC +04:00)

Azerbaijan ranks 70^th among the best countries in the world for business in 2018 determined by Forbes magazine.

APA-Economics reports that Azerbaijan had ranked 64^th in the rating for 2017.

Forbes determined the best countries for business by rating 153 nations on 15 different factors: property rights, innovation, taxes, technology, corruption, infrastructure, market size, political risk, quality of life, workforce, freedom (personal, trade and monetary), red tape and investor protection. It was determined on the basis of information from organizations such as Freedom House, Heritage Foundation, Property Rights Alliance, United Nations, Transparency International, World Bank Group and World Economic Forum.

Georgia ranked 52^nd, Turkey 56^th, Russia 58^th and Armenia 88^th.

The United Kingdom gets the top rank this year. This country is followed by New Zealand, the Netherlands, Sweden, Canada, Hong Kong, Denmark, Ireland, Singapore, and Switzerland.

Outsider is Chad.