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Cronicile

Doing Business 2018: It is easier to do business in Republic of Moldova than in Romania

de Adrian N Ionescu , 6.11.2017

Romania ranks 45th in the Doing Business 2018 ranking by the World Bank (WB), with a total score of 72.87 points, right under the Republic of Moldova (44th position).

Although Romania’s overall score this year is 0.17 points higher than last year, our country lost nine positions in this annual ranking that analyses, based on a set of criteria, the economies of 190 countries.

According to the World Bank report released on Tuesday, Romania has made progress in the tax payment area, where it ranks 42th in the world, eight positions higher than last year.

The most significant decline was at the indicator related to “the issuance of building permits “, where our country lost 55 positions and ranks 150th, compared to 95th, last year.

At the indicator about the establishment of a business, Romania lost two positions and ranks 64th compared to 62th, last year. The average time for establishing a business is 12 days, similar to last year.

Romania lost 13 positions at the indicator about “obtaining a loan”, where it ranks 20th, compared to the 7th position in 2016, and went down also 13 positions by the indicator “obtaining access to the electricity grid“, ranking 147th, compared to the 134th position last year.

Romania is overtaking countries such as Italy, 46th position, Hungary, 48th position, Bulgaria – 50th position, Belgium – 52nd but is behind countries such as Estonia, position 12, Lithuania – 16, Latvia – 19, Poland – 27, the Czech Republic – 30, Kazakhstan – 36, Slovenia – 37, Slovakia – 39, Serbia – 43, Republic of Moldova – 44.

Of the 190 countries surveyed by the World Bank in the “Doing Business 2018” report, first positions belong to New Zealand (86.55 points), followed by Singapore, Denmark, South Korea, Hong Kong, the United States and the United Kingdom. On the last positions in the ranking are Venezuela (30.87 points), Eritrea (22.87 points) and Somalia (19.98 points).

The World Bank points out that a record number of 119 economies made 264 reforms last year to ease the process of establishing a business, creating jobs and attracting investment.

The report of the international financial institution analyses 190 economies based on 11 criteria, such as the establishment of a business, the process of obtaining a loan, the access to the electricity grid and cross-border transactions.

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