Despite significant progress in making it easier to start a business and trade across borders, Montenegro fell from #65 to #66 in the World Bank’s 2011 Doing Business rankings. This is due to other nations improving faster than Montenegro.
Montenegro jumped to #51 from #81 among 183 nations in terms of starting a business. It now requires 7 procedures and approximately 10 days to start a business in Montenegro. This is improved from 11 procedures and 12 days in 2010. In comparison, a business can be started in New Zealand with 1 procedure in 1 day.
Montenegro also improved considerably in trading across borders, moving up 16 spots to #34. This was due to two very modest changes, the reduction of the number of documents required to import and export both from 7 to 6. In comparison, a business in France can import or export with only 2 government documents.
Unfortunately, Montenegro fell slightly in five categories. Montenegro fell 4 spots to #161 for dealing with construction permits. Montenegro also fell 3 spots for ease of closing a business and for enforcing contracts. Montenegro fell two spots for getting credit and one spot for protecting investors. Only in the category of paying taxes did Montenegro retain it’s existing ranking at #139.
|Starting a Business||51||81||+30|
|Dealing with Construction Permits||161||157||-4|
|Trading Across Borders||34||50||+16|
|Closing a Business||47||44||-3|
Significant progress in all of these categories is needed to improve the economy of Montenegro and the economic well-being of the people of Montenegro. The areas needed greatest improvement are dealing with construction permits (#161), paying taxes (#139), enforcing contracts (#135), and registering property #116.
Macedonia holds an impressive #38 spot in the Doing Business rankings, followed closely by Slovenia at #42. Croatia trails Montenegro at #84, followed by Serbia at #89. Bosnia and Herzegovina is not doing well, ranking at #110. Kosovo ranks even worse, coming in at #119.
For more information, read the summary of Doing Business 2011 data for Montenegro or the 2011 Montenegro Economy Profile.