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Romania Ranks 40/121 In Forbes Best Countries For Business

Romania was up 20 spots and ranks 40 in the 2008 edition of Forbes’ The Best Countries For Business, which includes 121 countries.
Romania Ranks 40/121 In Forbes Best Countries For Business
29 iun. 2008, 15:38, English

The Romanian business environment is more attractive than that in Turkey (41), Croatia (42), Bulgaria (44), Greece (53), India (64), Ukraine (75), China (79), Russia (86) or the Republic of Moldova (90).

Romania is overtaken by countries such as Germany (21), Austria (23), France (25), Slovenia (27), Italy (28), Czech Republic (29), Lithuania (30), Hungary (31), Latvia (32), Poland (33) and Spain (35).

The world’s top ten best countries for business are Denmark, Iceland, Finland, United States of America, Great Britain, Sweden, Canada, Singapore, Hong Kong and Estonia.

Romania got its best score for criteria such as free floating currency, protection of property, innovation, corruption and technology, while a lower score was obtained for bureaucracy, free trade and taxation levels for corporations.

Consumption and investments have driven the country’s gross domestic product on a fast track, and economic growth has given rise to an incipient middle class, however, corruption, bureaucracy and surging inflation continue to be the main challenges of the Romanian business environment, Forbes said.

The ranking used data from the Heritage Foundation, the World Economic Forum, the World Bank, Transparency International, Freedom House, Deloitte Tax, the U.S. Chamber of Commerce and the Central Intelligence Agency (CIA).