Albania ranks low in world business management

TIRANA, Sept. 6 – A World Bank report published Wednesday showed how countries in the world do business and how they rank compared to each other. Following is on Albania, compared to the region and the OECD standards. Albania ranks at the 120th place on the ease of ‘Doing business’ table in 2006, or five places below compared to a year ago. Protecting investors was the worst place at the 162nd and getting credit the best at the 48 (though still worse than in 2005 when it was 41st).
The challenges of launching a business in Albania show that entrepreneurs can expect to go through 11 steps to launch a business over 39 days on average, at a cost equal to 22.4% of gross national income (GNI) per capita. They must deposit at least 36.7% of GNI per capita in a bank to obtain a business registration number. It takes 344 steps and 22 days to complete the process, and costs 286.83% of income per capita. The Rigidity of Employment Index is an average of the three indices. For Albania the overall index is 38. In Albania it takes 7 steps and 47 days to register property. The cost to register property there is 3.6% of overall property value. In getting credit Albania’s legal rights index is higher than the region, 9 to 5.5 and there is no credit information index, no public registry coverage and no private bureau coverage. In protecting investors table Albania has a 0 compared to 4.7 in the region at the disclosure index. Entrepreneurs there must make 41 payments, spend 240 hours, and pay 55.77% of gross profit in taxes. In trading across the border Albania is better with the number of documents to export, the cost of export/import and number of days to import than the region, but needs more documents to import, for days of exporting. It takes 39 steps and 390 days to enforce contracts there. The cost of enforcing contracts is 22.55% of debt. It takes 39 steps and 390 days to enforce contracts there. The cost of enforcing contracts is 22.55% of debt.