Moldova’s development in the business sphere is progressing, according to the World Bank’s report “Doing Business 2012: Doing Business in a More Transparent World,” presented at the end of the week. The country’s rank is 81, out of 183 countries included in the study – it is an 18-point shift in comparison to last year.
Each year, the World Bank is conducting a special survey among business entrepreneurs running their own companies from 183 countries. The questionnaire included, a.o., time required to launch a company, to complete all formalities and to obtain necessary permits, and also ease of getting credit and paying taxes. Moldova’s 18-point advance – only Morocco did slightly better – placed it as the 81th country in the ranking between Croatia (80) and Albania (82), leaving behind, for example, Italy (87), Serbia (92), Greece (100) and Russia (120).
A closer look at the results reveals that Moldova’s success comes from the ease of getting a credit – a huge, 56-point, advance in comparison to the previous year, giving the country its 40th place in the detailed ranking. However, some issues remaining under the jurisdiction of state administration are still causing problem, for instance: getting electricity (160), obtaining construction permit (162) or dealing with international trade (134, although still a 5-point progress). In a category “Starting Business” there is a little better (80).
It is worth emphasizing that the World Bank, carrying out the survey, does not consider many important business issues – quality of infrastructure, economic and political stability, and size of the market. Nevertheless, such a comparison becomes a practical hint for businessmen and potential investors. In case of Moldova, you cannot forget about corruption – a major obstacle for business – which was lately highlighted in a report published by Transparency International.