Tehran, October 29, The Iran Project –Shapour Mohammadi, Deputy Minister of Economy says the 2016 ease of doing business index shows Iran's progress.

Shapour Mohammadi Iran's Deputy Minister of Economic Affairs and Finance said Iran ranks better in the World Bank Group's index due to the efforts by the ministry of economy and other executive institutions.

He underlined that Iran currently ranks 118 in 2016 World Banks' index which indicates 12 steps higher compared to 2015 report, adding that the procedural reforms and methodological alterations are two reasons that explain Iran progress in 2016 global index.

He went on to say that procedures, time, cost and payment are the indicators based on which the countries are assessed.

The deputy minister further said that the world Bank index puts Iran a little lower than Brazil and China as two significant developing nations.

The ease of doing business index evaluates the regulations for business and stronger protection of property rights.