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Sunday, July 23, 2017

Moldova on the right track to improve business climate, but it can improve

The World Bank Group on Wednesday said that regulations and new legislation in Moldova has improved business climate for entrepreneurs.
A World Bank Group report surveyed 189 economies globally with a ranking system that took into account factors that affect the process of starting a business.
Moldova placed 63rd in the rankings, a 19-place improvement over the previous year's ranking. It accomplished this by updating reforms in regard to business practice and startups, including doing away with capital minimums and increasing the minimum amount used to determine whether the company or entity was an environmental tax liability and they have simplified the tax payment methods. These factors have made it easier to start a business in the country.
While the reforms are a good start, World Bank Country Manager for Moldova Alex Kremer urges that smooth implementation of the reforms is crucial.
"The private sector needs to experience predictability, transparency and integrity in its day-to-day dealings with state institutions for Moldova to be competitive and reap the benefits of its economic integration with the EU," Kremer said.

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