World Bank: “Doing Business”, Albania moves 40 spots up
29/10/2014

Albania has climbed more spots on the list of countries with a good business climate for 2014. The World Bank says that Albania’s position improved with 40 spots, from 108th country in the world to 68th.

The report makes an analyze of the period since June 2013 and it says that the increased evaluation for Albania has come due to the reforms that the country has undertaken during this period in three main areas that are related with the Construction permits, property registration and creation of new businesses.

The World Bank notes that the new urban planning law has enabled much simpler procedures, by unifying the property permit with the construction one, and reducing the time that is needed for these permits. The registration of properties was made easier through the electronic registers and deadlines. As for opening new businesses, the bank says that Albania has reduced the costs and has made registration formalities easier.

One of indicators that has got worse is the tax payment procedure. The Bank says that it is more expensive due to the increased tax on profit. But although Albania has climbed more spots, has not been classified among the 10 more reforming economies in the world, because the reforms in Albania were undertaken only in three areas, while other countries have reformed five different elements related to the business climate.

This is the second time that the Albanian economy marks a strong improvement in the business making climate. The first time was in 2009, when our country was listed among the 10 most reforming economies in the world. Since then, Albania had dropped to the 108th place. This improvement brings the Albanian economy closer to the European ones as regards the business climate.