Stavreski: Macedonia third top reformer in the world according to World Bank Doing Business Report

Republic of Macedonia is the thrid top reformer in the world this year according to World Bank "Doing Business 2012” Report, following Morocco and Moldova. According to the Report, released today, it moved 12 places from 34th to 22nd place. It is the leader on the Western Balkans and achieved better performance than 19 EU Member States.

- The annual report shows that Macedonia goes forward. It indicates that Macedonia continues with its successes. Macedonia is the third top reformer in the world according to the most renown Report on measuring business climate for 2012, making an impressive jump by 72 places compared to 2006, Vice Prime Minister and Minister of Finance, Zoran Stavreski, said at today’s presentation of the Doing Business Report at the Government of the Republic of Macedonia.

He went on that Macedonia showed continuous progress as regards all indicators, that being a result of arduous reforms, measures and activities implemented in all areas in the past five-six years.

In the Report, as the Minister pointed out, Macedonia is convincingly the best in the region, as well as better ranked than 19 EU Member States. - Macedonia is now on the scale of the doing business ranking list of the World Bank before Estonia, Lithuania, Belgium, France, Portugal, the Netherlands, Austria, Slovenia, Spain, Luxembourg … and before Greece. Macedonia is again convincingly the best in the region. We are convincingly the best according to the doing business environment. Our 22nd place is better compared to the first country in the region – Slovenia, which is at the 37th place, than Montenegro, being at the 56th place, Bulgaria - 59th place, Turkey – 71st place, Romania – 72nd place, … I think the numbers say it all, Minister Stavreski underlined.

He believes it is important that Macedonia achieved new progress this year compared to the progress already achieved in the past five years. - It is very hard, he added, to make a 12 places jump, as we have achieved on the overall ranking list, from a position when you are already among the best or the better ones.

- The Report will be an impetus for all to continue the work to the end of identifying the areas in which we can make even better progress, areas in which we can improve the doing businss environment through additional reforms, Minister of Finance pointed out.

World Bank Resident Representative, Ms. Lilia Burunciuc, pointed out that Macedonia showed the best progress and, together with Latvia, they were the two economies achieving best results and being among the first thirty.

This, as she said, contributes to business encouragement and job creation.

She pointed out that doing business reforms are part of a broader competitiveness agenda. - It takes time for reforms to translate into changes in the economy, but in Macedonia we can already see these changes reflected in the recent pick up of economic activity and increase in foreign direct investments. Stronger growth will demand broader changes. The Report demonstrates that the country has capacity to implement reforms through political will, a desire to change and coordination with stakeholders. World Bank is already working with the Government with the broader competitiveness agenda, Burunciuc pointed out.

She said the Doing Business Report for this year also included a case study for Macedonia. - Macedonia is among the countries that made the biggest strides in creating a regulatory environment more favorable to the business in the past 6 years. Macedonia is the third highest ranking country in East Europe and Central Asia, Burunciuc said.

Republic of Macedonia has made progress in four areas – dealing with construction permits, getting credit (credit information), resolving insolvency and registering property. - It made dealing with construction permits easier by transferring the oversight process to the private sector and streamlining the procedures. It made registering property easier by reducing notary fees and enforcing time limits set by the Law on Real Estate Cadastre. Establishment of the private Credit Bureau improved the credit information system. Transparency in resolving insolvensy was also improved through amendments to the legislation, it is stated in the Report.

With respect to dealing with construction permits, Macedonia progress by 86 places. Number of procedures was reduced from 20 to 10, and the time for obtaining construction permits was shortened from 139 to 117 days.

As regards resolving insolvency, progress from 116 to 55 place is evident. Duration of bankruptcy procedeeings was shortened from almost three to two years, costs therefrom were reduced from 28% to 10& of the total value of the company’s property.

Macedonia also made improvements in getting credit indicator by 21 places, i.e. from 45th to 24th place, by establishing and putting into operations the private Credit Bureau and increasing accessibility and scope of credit information.

As for registering property, the country improved by 18 places. Number of procedures was reduced from 5 to 4, the time for registration was shortened from 58 to 40 days and registration costs were reduced from 3.2% to 3.1% of the property value.

There is also progress achieved in enforcing contracts, where we improved from 65th to 60th place.

Macedonia, together with Morocco, Moldova, Sao Tome and Principe, Latvija, Cape Verde, Sierra Leone, Burundi, Solomon Islands, Republic of Korea, Armenia and Columbia, are the 12 economies that improved the most in the ease of doing business in many regulatory areas measured under the World Bank Doing Business report.

Singapore is ranked at the 1st place as regards the ease of doing business, followed by Hong Kong SAR, China, New Zeland, the United States and Denmark.

The Report analyzed regulations relevant to the life cycle of businesses in the economy, including starting a business, trading across borders, paying taxes and resolving insolvency.  The Report covered 183 economies, which are assessed to have continued implementing reforms that improve the ability of the local companies in doing business, whereby transparency and access to information play the key role in the reforms.

The global report shows that governments in 125 economies, out of 183 economies, implemented 245 business regulation reforms - by 13% more than last year.

 

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