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WORLD BANK: MACEDONIA IN TOP 10 FOR ESTABLISHING A BUSINESS IN A SHORT TIME

08/07/2010

The latest World Bank report "Investing Across Borders 2010" placed Macedonia among the ten countries where a business could be established in a short time, and indicates that it takes up to eight days to register a company with six procedures.

However, within the framework of the single window system project, worth €1.9 million, e-registration of domestic and foreign companies will be available by year end.

The project's objective is to shorten and simplify the procedure for registering legal entities, meeting European directives, e-registration of commercial companies, implementation of the Law on e-Signature, and the concept of e-certificate, along with a reduction of the administrative burden on the business community.

Fatmir Besimi, Minister of Economy, stated that the project would not only benefit businessmen, but also appraisers, managers of bankrupt companies, judges, notary publics, and many others. “This will result in an improvement of the business conditions in Macedonia”, stressed Minster Besimi.

In the World Bank report, Macedonia was given a maximum of 100 index points for protection of property rights, 85.6 points for lease and concession procedures, 68.4 for access to information involving property legislation, 93.1 for legal regulation and 69.7 points for judiciary.

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