World Bank: Kosovo has made progress in the business reform

World Bank: Kosovo has made progress in the business reform

Pristina, October 29, 2014/Independent Balkan News Agency

By Elton Tota

Kosovo ranks 75th in the World Bank’s “2015 Doing Business” report, improving its position by six position compared to the previous year.

The report identifies improvements in obtaining construction permits after the creation of the new scheme of inspection and reduction of the permit fee.

Kosovo has also simplified the process of the enforcement of contracts, by introducing the private bailiff system.

Among others, the report also points out the complications in the process of the transfer of assets as a result of the increase of the fee for the registration of transactions.

With these achievements and others, the World Bank has positively assessed Kosovo with 1.8 points about the business climate, although much is still to be done.

Acting prime minister, Hashim Thaci said that this document shows the success of the liberal reforms undertaken by the government.

“The 2015 Doing Business report of the World Bank shows the success of the liberal reforms of our government, because it indicates that Kosovo has improved its ranking by six positions, occupying the 75th position this year. Development of the economy of Kosovo is directly linked with the creation of a suitable climate to encourage investments and facilitate business, therefore we will continue in the future to undertake those reforms or policies in order to further improve this climate”, said Thaci.

This is the 12th year that the World Bank issues a report on the business climate.

The first report was issued in 2003. This report acts as an analysis of regulations on a micro-economic level in order to offer a picture of the business climate.

The report focuses in the regulation applied for small and medium sized businesses, by analyzing 10 indicators: the opening of a business, the obtainment of a construction permit, electricity service, registration of assets, the obtainment of loans, protection of minority investors, payment of taxes, cross border trade, application of contracts and procedures for the compensation of creditors.

This analysis doesn’t take under consideration factors such as security in the country, macro-economic stability, level of corruption, labor, functionality of institutions, infrastructure of services, etc. /ibna/