Montenegro goes up by 10 places in World Bank Doing Business report

Montenegro moves up by a full 10 places to 56th overall in the Doing Business 2012 world ranking list including 183 countries, the World Bank announces in its annual report released on Thursday, 20 October.

For the period July 2010 – June 2011, 125 economies, out of the total 183 economies assessed, implemented 245 reforms mostly in the areas of starting a business, getting credits, paying taxes, closing a business, registering property and trading across borders.

According to the report, Montenegro implemented 3 reforms which put it among 23 countries with that number of implemented reforms. The reforms have been identified in the fields of starting a business, paying taxes and closing a business.

The report also says that Montenegro made improvements in terms of starting a business (+4), registering property (+8), getting credits (+24), paying taxes (+31) and enforcing contracts (+2).

On the other hand, Montenegro goes down in the areas of issuing construction permits (-12) and protecting investors (-1).

Bearing in mind the fact that laws dealing with simplified procedures for issuing construction permits were adopted after the Doing Business had completed the verification of the conducted reforms, this reform could have no impact on Montenegro’s track record in this year’s report.

In the area of protecting investors, Montenegro goes down by one place primarily due to other countries’ progress, although there was no change in the procedures and costs compared to last year.

Within the region, only Macedonia (22) and Slovenia (37) rank higher than Montenegro, while Croatia (80), Albania (82), Serbia (92), Bosnia and Herzegovina (125) and Kosovo (117) rank lower, the report concludes.