1. Bulgaria: Top-10 reformer in doing business Simeon Djankov October 10, 2007

2. Doing Business indicators
2007
2008
2009
Starting a business
Dealing with licenses
Employing workers
Registering property
Getting credit
Protecting investors
Paying taxes
Trading across borders
Enforcing contracts
Closing a business
Update of 2007
Add 3 countries (Brunei, Liberia, Luxembourg)
Add Not paying bribes
Add Using infrastructure

3. Top Reformers in 2006/2007 Economy Starting a business
Dealing with licenses
Employing workers
Registering property
Getting credit
Protecting investors
Paying taxes
Trading across borders
Enforcing contracts
Closing a business
Egypt
Croatia
Ghana
Macedonia, FYR
Georgia
Colombia
Saudi Arabia
Kenya
China
Bulgaria ^
Key message #2: Egypt is top-reformer, jumping up 26 places in aggregate rankings.

4. Bulgaria – world’s top reformer on Paying Taxes
Reduced the total tax rate by 5.7% by slashing:
- social security contributions
- one-off tax on various corporate expenses
2. Reduced the number of tax payments from 31 in 2005/06 to 17 in 2006/07 in 1 year due to the popularization of online filing for income tax and social security contributions

5. Eastern Europe and Central Asia countries reformed the most…
Countries with at least one positive reform in 2006/2007 (%)
Key message #4 ECA reforming the quickest, as a region they have surpassed East Asia for the first time this year

6. Eastern Europe surpasses East Asia on the ease of doing business
Average Rank, Ease of Doing Business
Key message #1: As reforms pick up, more businesses start up. ECA witnessed 59 reforms over the past year.

7. Countries ranked by ease of doing business, quintiles
Business friendly regulation leads to more registered businesses and start-ups
Business density
(registered firms per capita)
Business entry
(new firms in % of registered firms)
Message #1: As reforms pick up more business start up. Georgia now has 15 registered business out of 100 (like Malaysia).
Easiest
Most difficult
Easiest
Most difficult
Countries ranked by ease of doing business, quintiles
Source: Doing Business database

8. More reforms, higher equity returns
3-year shareholder returns
Egypt
Colombia
Key message #5: Equity returns are highest in countries reforming the most. Investors looking at upside potential, movement rather than starting point.
Brazil
Poland
India
Sri Lanka
Venezuela
Number of reforms,

9. Ease of doing business in the EU
Bulgaria, a recent member of the EU surpassing its EU neighbors on the ease of Doing Business, i.e. Romania and Greece. It also surpasses some of the older EU-members, e.g. Italy.

10. Bulgaria is on par with its peers
Bulgaria at #46 surpassed all of its neighbors on ease of Doing Business

11. Top 25 on the ease of doing business, 2007
Singapore
New Zealand
United States
Hong Kong, China
Denmark
United Kingdom
Canada
Ireland
Australia
Iceland
Norway
Japan
Finland
Sweden
Thailand
Switzerland
Estonia
Georgia
Belgium
Germany
Netherlands
Latvia
Saudi Arabia
Malaysia
Austria
Key message #3: Singapore tops the list for 2nd year in a row
Bulgaria #46 (it jumped 8 places from back calculated #54 in 2007)

12. Bulgaria – overall ranking #46
Topic
Bulgaria #46
World’s best
Starting a business
#100
Australia
Dealing with licenses
#103
St. Vincent & the Grenadines
Employing workers
#57
United States
Registering property
#62
New Zealand
Getting credit
#13
United Kingdom
Protecting investors
#33
Paying taxes
#88
Maldives
Trading across borders
#89
Singapore
Enforcing contracts
#90
Hong Kong, China
Closing a business
#72
Japan

13. Bulgaria can facilitate the procedures for starting a business
Best Practices
Cut paid in minimum capital requirement
Merge formalities through one-stop shop
Introduce online registration
DB08 Ease of Starting a business

14. … and reduce the costs of dealing with licenses
Best Practices
Review licenses periodically
Make information easily available
Introduce electronic filing
DB08 Ease of Dealing with Licenses

15. For more information, please visit
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