Economy Ministry explains Moldova's fall in Doing Business 2011
The Ministry of Economy says Moldova's fall from the 87th to the 90th spot in Doing Business 2011 is due to the pace at which other countries covered by the report have implemented reforms, Info-Prim Neo reports.
According to the Ministry, the data used to compile the Doing Business 2010 and 2011 remained mainly unchanged, but the assessed pace of implementing reforms was different.
Thus, at least 50 states in the period improved business start-up conditions, while Moldova slipped 16 places according to this indicator.
On the other hand, the Ministry says there were set up a number of projects to improve the situation in different areas, but they had not been approved by the time the report was produced.
Also, some of the changes in the rankings, related to closer interaction between the public or private authorities, especially the banks and entrepreneurs, were determined not by the amendments to the legislation, but to the answers given by the respondents, influenced by the reaction to such an interaction.
Among the world's economies, Kazakhstan improved business regulation the most in the past year, according to Doing Business 2011: Making a Difference for Entrepreneurs, the eighth in a series of annual reports published by IFC and the World Bank.