Romania kept its 73rd place in the 2014 edition of the Doing Business Report that assesses the ease of doing business across 189 economies worldwide.
The ranking, compiled by the World Bank and the International Finance Corporation, evaluates how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 10 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
Romania improved its performance in four areas and performed worse in five areas. It scored best in terms of getting credit where it ranked 13th globally although its position deteriorated from last year when it stood at 11th. The country ranked worst in getting electricity taking the 174th position. During the last year Romania made starting a business easier by transferring responsibility for issuing the headquarters clearance certificate from the Fiscal Administration Office to the Trade Registry. The country also made paying taxes easier and less costly for companies by reducing the payment frequency for the firm tax from quarterly to twice a year and by reducing the vehicle tax rate. It adopted a new civil procedure code that streamlines and speeds up all court proceedings making enforcing contracts easier.
|Romania||2014 rank||2013 rank|
|Ease of doing business rank||73||73|
|Starting a business||60||65|
|Dealing with construction permits||136||134|
|Trading across borders||76||76|
|Source: World Bank's 2014 Doing Business|
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