Romania
Ease of doing business (rank)
73
Starting a business (rank)
60
Starting a business - Cost (% of income per capita)
2.4
Starting a business - Procedures (number)
5
Starting a business - Time (days)
8.5
Starting a business - Minimum capital (% of income per capita)
0.7
Dealing with construction permits (rank)
136
Dealing with construction permits - Cost (% of income per capita)
71.2
Dealing with construction permits - Procedures (number)
15
Dealing with construction permits - Time (days)
287
Registering property (rank)
70
Cost (% of property value)
1.6
Procedures (number)
8
Time (days)
20
Protecting Investors (rank)
52
Getting credit (rank)
13
Trading across borders (rank)
76
Enforcing contracts (rank)
53
Enforcing Contracts - Cost (as % of claim)
28.9
Enforcing Contracts - Procedures (number)
32
Enforcing Contracts - Time (days)
512
Resolving insolvency (rank)
99
World Bank Doing Business 2014
Starting a business
Romania made starting a business easier by transferring responsibility for issuing the headquarters clearance certificate from the Fiscal Administration Office to the Trade Registry.
Paying taxes
Romania made paying taxes easier and less costly for companies by reducing the payment frequency for the firm tax from quarterly to twice a year and by reducing the vehicle tax rate.
Dealing with construction permits
Enforcing contracts
Romania made enforcing contracts easier by adopting a new civil procedure code that streamlines and speeds up all court proceedings.
Conclusion Many companies complain about how little adapted are university graduates to market needs. The country disposes of European Funds seeking to make a change in this area, as without trained employees it’s difficult to improve the competitiveness of the Romanian companies, as well as of the Romanian economy. The banking sector remains weak, saddled with overhang of nonperforming loans.
The most problematic factors for doing business in Romania: