Malta, according to the World Bank, will be the most difficult place in the whole of the European Union in which to do business, according to the World Bank's annual Ease of Doing Business Survey released yesterday. Malta, in fact, was ranked in the authoritative study as being the 84th easiest place in the world to do business, out of the 190 countries surveyed. Perhaps unsurprisingly, Malta fared best in the area of 'Dealing with construction permits', where the country was ranked in a global 45th position. In all, 14 procedures are involved and an average of 170 days. "Malta made dealing with construction permits easier by streamlining the process of obtaining a building permit," the World Bank noted. "On the other hand, Malta increased the time to issue a building permit." In terms of 'Starting a business', Malta ranked 103rd with eight procedures necessary and 16 days to open a business' doors. Malta ranked 77th in terms of 'Getting electricity', requiring an average of 105 … [Read more...] about Malta remains most difficult place in the EU to do business – World Bank annual report
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Baku, Azerbaijan, Nov. 1 By Fikret Dolukhanov – Trend: Uzbekistan initiated three business reforms in 2017-2018 and held the 76th position (74th in 2017) among 190 economies ranked in the World Bank Group’s (WB) Doing Business 2019: Training for Reform report, the WB’s press service said. Uzbekistan has implemented 35 business reforms over the past 16 years. More than two-thirds of these reforms have been implemented in the last seven years. Most of these reforms were implemented in the areas of Starting a Business (an area where Uzbekistan performs best, with a global ranking of 12), Paying Taxes, Getting Credit and Registering Property. Uzbekistan kept implementing reforms in 2017-2018, having improved in three out of ten areas measured by Doing Business, Trading across Border, Protecting Minority Investors, and Paying Taxes. In the area of Protecting Minority Investors, Uzbekistan adopted legislation clarifying the ownership and control structures of listed … [Read more...] about Uzbekistan’s reforms result in loss of rating in WB’s Doing Business report
New Zealand has topped the World Bank’s rankings of the best countries to start and run a business in 2018, ahead of Singapore, Denmark and Hong Kong. The World Bank said New Zealand retained its position in its Doing Business report ahead of 190 other countries, despite not implementing any reforms in the last year. The UK slipped to ninth place while Norway climbed to seventh in a year when the World Bank said governments pressed ahead with a record number of reforms to business regulations and tax rules to support private businesses. But Georgia, the former Soviet satellite state, retained its position at number six in the rankings, despite persistent criticism from aid agencies that the World Bank was rewarding a country with high levels of inequality, showing that by itself a business-friendly environment is not a route to ending poverty. Macedonia, United Arab Emirates, Malaysia and Mauritius are also among the business-friendly countries in the World Bank’s top 20 … [Read more...] about New Zealand is best place to do business but UK slips to ninth – report
Ikea is opening its first store in India, but is the country ready? Manoj Ladwa, founder of Indian Inc. and former communications director for Narendra Modi, says YES. Indian consumers expect a lot from retail brands. On the one hand, competing on price is imperative for retailers in India. On the other, there are 600m young people there, and the country’s professionals are increasingly demanding products and services that make their lives easier. Ikea is primed to take advantage of today’s aspirational Indian society. Its first store, in Hyderabad, is in India’s hub of entrepreneurship, where young professionals are not just driving growth in the high-skilled economy, but buying more too. Home ownership is on the rise across India, growing at 4.2 per cent year-on-year in 2017. And millennial Indians have a growing appetite for household goods; the number of households with televisions rose by 7.5 per cent in the same period, according to KPMG. Government policies to … [Read more...] about DEBATE: Ikea is opening its first store in India, but is the country ready?
Smart Start USA, a programme that will officially start in September 2018, aims to ease access for 10,000 small and medium Romanian companies and entrepreneurs annually on the North American market. They will be able to promote their products and services, to become foreign investors on the US market, and therefore contribute to the development of bilateral trade and the growth of Romanian exports. According to Ilan Laufer, former minister of the Business Environment and the initiator and coordinator of the Smart Start USA programme, Romanian companies can get funds starting at USD 50,000 and up to USD 100,000 in general, through partner banks, but he added that some companies may be able to get as much as USD 1 million. “This programme will be based on current realities, on the fact that only 15 percent of Romanian exports go towards countries outside Europe. Romania’s investment priorities should be directed towards China, the US and India. The United States are an … [Read more...] about Romanian companies can obtain at least USD 50,000 to do business in the US through the Smart Start USA programme