Further to several initiatives aimed at improving the corporate environment and the investment infrastructure and in the background of significant potentials in enhancing the energy sector of the island, the global ranking of Cyprus in "Doing Business 2012" has improved by 9 ranks. Cyprus is now placed among the best 40 places globally for starting a business.

The efficiency of doing business is ranked among 183 economies and by reference to key indicators, such as time, cost and procedure. These are benchmarked against regional and high-income economy averages.

Cyprus is ranked on the 33rd place in regard to starting a new business (incorporating a company). As to investment protection, Cyprus has managed to dramatically improve its position, climbing from the 93rd place in 2011 to the 29th place in 2012. Cyprus has also improved its ranking on other fields, such as transparency and disclosure indicators, directors liability index, shareholders' access to justice and other. Considering taxation, Cyprus is among the 40 best places globally, by reference to direct payment, percentage, labor tax and contributions and other mandatory contributions. Cyprus has also achieved important rankings, including cross border trading.

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