DOING BUSINESS 2012 – MACEDONIA IS THE 3RD BEST REFORMER IN THE WORLD

According to the World Bank’s Doing Business Report 2012, the Republic of Macedonia is the third most improved economy in the world this year. It moved 12 places from the 34th to the 22nd place. The Republic of Macedonia made progress in four areas measured by the report: dealing with construction permits, registering property, getting credit and resolving insolvency. It made dealing with construction permits easier by streamlining procedures and transferring oversight processes to the private sector. Property registration easier by reducing notary fees and enforcing the time limits established in the Law on Real Estate Cadastre. The establishment of a private credit bureau improved the credit information system. Legislative amendments increased the transparency of the bankruptcy process, noted the Doing Business report for Macedonia.Doing Business 2012 recognizes that Macedonia is among 10 economies that made the biggest strides in creating a regulatory environment more favorable to business in the past 6 years. It moved up in the global ranking on the ease of doing business from 81st in Doing Business 2006 to 22nd in this year’s Report. According to the ranking, Macedonia is far ahead of other countries in the region.