Moldova ranks 48th in World Bank's doing business ranking
15:03 | 24.10.2019 Category: Economic
Chisinau, 24 October /MOLDPRES/ - Moldova got down to the 48th position out of 190 countries included in the World Bank’s Doing Business ranking, after it ranked 44th in 2017. The business environment was assessed with 74.4 points, against 73.54 in 2018; yet, the quicker evolution of other countries diminished the place occupied, according to the Doing Business 2020 report.
In the WB’s ranking, Moldova is positioned immediately after Slovakia, Belgium and Armenia and outruns such countries as Belarus, Montenegro, Croatia. Georgia occupies the best position out of the former Soviet countries, ranking seventh; it is followed by Lithuania (11), Estonia (18) and Latvia (19). Following an impressive evolution in the last two years, Kazakhstan went up to the 25th position, while Russia was placed by four positions higher, on the 38th one. Among the neighbor countries, Romania is on the 55th position, thus losing ten positions in two years and Ukraine ranks 65th, against 71st in the year before.
Moldova is on the best position (13) in terms of “starting business” and, respectively, ranks 22nd as regards “property’s registration.” The World Bank’s report places Moldova on the 33rd position in terms of “taxes’ payment” and 38th as concerns the “cross-border commerce.” Moldova has the worst mark in terms of “release of construction permits,” where the country ranks 156th.
According to the Doing Business 2020 report, out of ten indexes, Moldova’s position improved in five ones, worsened in four indexes and remained unchanged at one index.
Moldova evolved significantly from the position 172 to 156 at the category of getting construction permits. According to World Bank experts, Moldova simplified the procedures of release of construction authorizations, ensuring the quality control on behalf of the supervision authorities and shortening the time of service.
As for the contracts’ fulfillment sector, Moldova went up from the 69th to the 62nd position, in the taxes payment – from 35 to 33, in the insolvency’s recognition – from 68 to 67 and in enterprises’ registration – from 14 to 13.
The Doing Business annual report of the World Bank Group analyzes the regulations applied on businesses in an economy, including as regards the starting of business, getting a credit, cross-border trade, taxes’ payment, as well as insolvency. The Doing Business aggregate ranking is based on the scores for 11 sectors and includes 190 countries.
New Zealand has remained the most attractive state for doing business for the second year in a row, according to the Doing Business report; it is followed by Singapore. The third country with the fittest business climate is Hong Kong. Denmark, South Korea, USA, Georgia, the United Kingdom, Norway and Sweden come next in the ranking.
