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Macedonian economy ranks tenth in world in ease of doing business: report

Xinhua, October 26, 2016 Adjust font size:

Macedonia leads the pack in southwestern Europe and is tenth out of 190 economies in the world in terms of business efficiency, according to the Doing Business 2017 report released by the World Bank on Tuesday.

Macedonia has witnessed significant improvement in the Doing Business ranking. Thanks to the reforms carried out here, an entrepreneur in Macedonia can start a business in only two days which is considerably less than the regional average of 10 days, the report showed.

Topping the list was New Zealand followed by Singapore and Denmark

The report also cited that a record 137 economies around the world have adopted key reforms that have made it easier to start and operate small and medium-sized businesses.

Doing Business measures quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies, measuring regulations affecting 11 areas of the life of a business.

This year's ranking focused on starting a business, dealing with construction permits, access to electricity, registering property, access to credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Endi