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Belarus hopes to improve its WB Protecting Investors rankings

MINSK, 30 July (BelTA) - Belarus hopes to improve its Protecting Investors potential in WB Doing Business report, BelTA learnt from the Economy Ministry.

According to the annual Doing Business 2011, Belarus improved its rankings up 29 points from the 108th to the 79th. It was made possible thanks to the adoption of the law on amendments and additions to the Law of the Republic of Belarus on business entities of 15 July 2010 that followed the WB recommendations.

Further opportunities to improve Protecting Investors rankings are connected with higher responsibility of directors. The Economy Ministry noted that at the video conference held at the WB Office in Minsk in May 2012 with the participation of representatives of the Economy Ministry and WB experts the parties coordinated positions and outlined a number of measures to enhance this index. In this respect the country has taken up efforts to adjust the law on business entities regarding the responsibility of the management bodies.

Protecting Investors index measures the strength of minority shareholder protections against misuse of corporate assets by directors for their personal gain.

A reminder, the Republic of Belarus holds the 69th place out of 183 countries in the WB Doing Business 2012 report. The country aims to make it to the top thirty with the most favorable doing business conditions.