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October 5, 2022
BUSINESS

Romania’s business environment, 32nd in the world

Romania is 32nd in a 160-nation business environment table compiled by Bloomberg, the local market’s most important advantage being the low cost of labor, Mediafax informs. The Romanian economy is in a tie with the Malaysian economy and represents, according to the table, a more business-friendly environment than the Czech, New Zealand, Mexican, Israeli, Turkish, Bulgarian, Russian, Indian and Brazilian economies. Hungary, China, Chile, Poland, South Africa, Latvia and Portugal are countries whose score is higher than Romania’s.  Romania scored best when it came to the degree of economic integration and the cost of labor and raw materials, but fared worse when it came to the cost of setting up a business and to “less tangible costs” such as corruption, inflation rate, fiscal level and accountability standards.  In the World Bank’s ‘Doing Business 2012’ annual table, Romania dropped seven places to rank 72nd out of 183 nations.

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