Moldova Up in Rating for Best Conditions for Business Activities
OREANDA-NEWS. December 11, 2013. Moldova ranks 88 place among 145 countries of the world in the rating of countries with the best conditions for business activities, up four lines compared to 2012.
According to the rating, compiled by the American financial and economic magazine Forbes, Moldova took the 62nd place in the rating “technologies”, “trade freedom” - 65th, “protecting of investors” – 66th, “bureaucracy” – 68th , “personal freedom” – 69th , “tax burden” – 73d. Moldova ranked the lowest places in the sections "ownership rights" - 116th place, and innovations – 134.
Our country follows Serbia and Libya ahead of Madagascar, Russia, China, and India. Among the former Soviet republics the highest positions in the ranking have Estonia - 23rd place, Lithuania - 25th, Latvia – 35th , Georgia – 50th , Armenia – 64th, Azerbaijan 67th and Kazakhstan – 70th . Russia ranks 91st and Ukraine- 99th. Romania has risen from 60th place in 2012 to 51st place in 2013. The highest places in the ranking are taken by Ireland, New Zealand, Hong Kong, Denmark, Sweden, Finland, Singapore, Canada, Norway, and Netherlands. The ranking is closed by Angola, Zimbabwe, Myanmar, Chad and Guinea.
Rating takes into account both the key economic indicators (GDP, inflation, unemployment), level of economic freedom, protection of investments, free trade, innovations, tax and legislative systems. The study noted that despite the recent economic progress, Moldova remains one of the poorest countries in Europe. The experts also stated that our country has favorable climate and good farmland but has no major mineral reserves. "Moldova imports almost all energy resources from Russia and Ukraine and the country's economy depends on remittances, which annual volume amounts to about USD1 billion.
Economic reforms are hampered by high corruption, political uncertainty, weak administrative capacity, unclear bureaucratic interests, high energy prices and problems with foreign investors, as well as the presence of an illegal separatist regime in Transnistria"-, the study says.