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WB acknowledges progress in registering property in Belarus

MINSK, 24 October (BelTA) – Belarus was ranked fourth (up 2 points) in the Registering Property category of the Doing Business 2012 report made by the World Bank and the International Finance Corporation, the State Property Committee told BelTA commenting on the rating.

The report points to a quality improvement in the Registering Property indicator. That became possible due to a streamlined single state register of real estate and related rights and deals in the digital format. It is an important stage in the creation of electronic government. The system allows providing a wide range of electronic services to individuals and economic operators, the State Property Committee noted.

At present the real estate register contains information on over 5.6 million facilities, including land plots, permanent structures, frozen and unfinished permanent structures, isolated buildings, companies, and information on the rights and ownership restrictions for these facilities.

Overall, Belarus is ranked 69th (up 22 points) in the report “Doing Business 2012: Doing Business in a More Transparent World”. Belarus has improved its positions in five categories out of ten. Belarus is ranked 79th in the category Protecting Investors (up 29 points), 156th in Paying Taxes (up 27 points), 82nd in Resolving Insolvency (up 16 points), 4th in Registering Property and 44th (up 1 point) in Dealing with Construction Permits. There was no change in rank in the Trading Across Borders category (152nd). Belarus’ rank has fallen in four categories, including Enforcing Contracts (from the 11th to the 14th position), Starting a Business (from the 7th to the 9th position), Getting Credit (from the 96th to the 98th position) and Getting Electricity (from the 174th to the 175th position).