Croatia slips to 89th place in World Bank's 2014 Doing Business ranking

By bne IntelliNews October 30, 2013

Croatia slipped one place to rank 89th in the 2014 edition of the Doing Business Report of the World Bank and the International Finance Corporation that assesses the ease of doing business across 189 economies worldwide.

The ranking evaluates how easy or difficult it is for an entrepreneur to open and run a small to medium-size business when complying with relevant regulations.

Croatia scored better only in three areas (dealing with construction permits, paying taxes, trading across borders), while performing worse in seven others.

The country made starting a business easier by introducing a new form of limited liability company with a lower minimum capital requirement and simplified incorporation procedures. It made paying taxes easier for companies by introducing an electronic system for social security contributions and by reducing the rates for the forest and Chamber of Commerce contributions.

Cross-border trade was facilitated by improving the physical and information system infrastructure at the port of Rijeka and by streamlining export customs procedures in preparation for accession to the Common Transit Convention of the European Union.

Furthermore, Croatia improved the enforcement of contracts by streamlining litigation proceedings and transferring certain enforcement procedures from the courts to state agencies. It also made resolving insolvency easier by introducing an expedited out of court restructuring procedure.

Croatia

2014 rank

2013 rank

Ease of doing business

89

88

Starting a business

80

79

Dealing with construction permits

152

155

Getting electricity

60

58

Registering property

106

103

Getting credit

42

40

Protecting investors

157

156

Paying taxes

34

43

Trading across borders

99

104

Enforcing contracts

49

48

Resolving insolvency

98

97

Source: World Bank's Doing Business

 

 

 

Related Articles

Croatia reportedly receives just one bid to lease capacity at planned LNG terminal

LNG Hrvatska has reportedly received just one binding offer to lease capacity at the planned planned liquefied natural gas (LNG) terminal on the Croatian island of Krk, unnamed sources ... more

London court to consider extradition of Agrokor founder

The owner of Croatia’s heavily indebted food and retail giant Agrokor, Ivica Todoric, will appear in a London court on April 10 in connection with Croatia’s extradition request, Total Croatia ... more

Croatia greenlights €1.8bn debt restructuring of road management companies

The Croatian government decided on March 29 to offer state guarantees for loans worth €1.8bn that road management firms will take out to refinance their debt, and announced further financial ... more

Dismiss