The ranking measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
This year, Romania lost 17 spots in terms of starting a business, reaching 62nd spot, from 45 last year.
“Romania made starting a business more difficult by increasing the time needed to register for VAT,” the report reads.
Nevertheless, Romania registered progresses in paying taxes area, climbing 5 spots to 50, from 55 previously, mostly due to lower taxation.
Romania ranks best at getting credit category (7th spot, similar with last year), while its worst ranking is registered for getting electricity and dealing with construction permits categories.
Overall, Romania has managed to outrank several countries in the region, such as Bulgaria (39), Russia (40), Hungary (41), but is outranked by Poland (24) and Slovenia (30).
New Zealand is number one in the World Bank’s Doing Business top, followed by Singapore, Denmark, and Hong Kong,