Kosovo listed 66th in the doing business ranking

Kosovo listed 66th in the doing business ranking

Pristina, 28 October 2015/Independent Balkan News Agency

By Elton Tota

The World Bank has published the annual report Doing Business, which evaluates the factors that facilitate or hinder businesses in 189 countries of the world.

Kosovo ranks 66th among 189 countries and the biggest progress was made with the facilitation of the payment of taxes, removing the annual fee for the business license.

This is a major improvement compared to 2012, when the country ranked 126th.

Doing Business 2016 notes that last year, Kosovo has made it easier for companies to pay taxes.

“In the recent years, Kosovo has removed important obstacles of doing business, as it’s reflected in its gradual and constant international positioning”, says Jan Peter Olters, World Bank manager in Kosovo.

“In order for these encouraging developments to be translated into concrete improvements in domestic productivity, in the creation of new jobs, the country must focus on challenges of a long term social economic development strategy which spreads out in several political terms”, Olters said during the presentation.

Meanwhile, chief economist at the World Bank, Kaushik Basu, said that “A modern economy cannot function without regulations and at the same time, it cannot be stopped as a result of a poor regulation. The development challenge means that an economy must identify good regulations, by avoiding those that hinder creativity and functioning of small and medium sized enterprises.” /ibna/