DOING BUSINESS 2009 - JOHN J. HADDAD, Ph.D.

(c) The International Bank for Reconstruction and Development / The World Bank

A copublication of the World Bank, the International Finance Corporation, and Palgrave Macmillan(c) The International Bank for Reconstruction and Development / The World Bank

© 2008 The International Bank for Reconstruction and Development / The World Bank1818 H Street NWWashington, DC 20433Telephone 202-473-1000Internet www.worldbank.orgE-mail feedback@worldbank.orgAll rights reserved.1 2 3 4 08 07 06 05A publication of the World Bank and the International Finance Corporation.This volume is a product of the staff of the World Bank Group. The findings, interpretations and conclusions expressedin this volume do not necessarily reflect the views of the Executive Directors of the World Bank or the governmentsthey represent. The World Bank does not guarantee the accuracy of the data included in this work.Rights and PermissionsThe material in this publication is copyrighted. Copying and/or transmitting portions or all of this work withoutpermission may be a violation of applicable law. The World Bank encourages dissemination of its work and willnormally grant permission to reproduce portions of the work promptly.For permission to photocopy or reprint any part of this work, please send a request with complete information to theCopyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone 978-750-8400; fax 978-750-4470; Internet: www.copyright.com.All other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher,The World Bank, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2422; e-mail: pubrights@worldbank.org.Additional copies of Doing Business 2009, Doing Business 2008, Doing Business 2007: How to Reform, Doing Business in2006: Creating Jobs, Doing Business in 2005: Removing Obstacles to Growth and Doing Business in 2004: UnderstandingRegulations may be purchased at www.doingbusiness.org.ISBN: 978-0-8213-7609-6E-ISBN: 978-0-8213-7610-2DOI: 10.1596/978-0-8213-7609-6ISSN: 1729-2638Library of Congress Cataloging-in-Publication data has been applied for.(c) The International Bank for Reconstruction and Development / The World Bank

ContentsDoing Business 2009 is the sixth in aseries of annual reports investigatingthe regulations that enhance businessactivity and those that constrain it. DoingBusiness presents quantitative indicatorson business regulations and the protectionof property rights that can be comparedacross 181 economies—from Afghanistanto Zimbabwe—and over time.Regulations affecting 10 stages ofthe life of a business are measured: startinga business, dealing with constructionpermits, employing workers, registeringproperty, getting credit, protecting investors,paying taxes, trading across borders,enforcing contracts and closing abusiness. Data in Doing Business 2009 arecurrent as of June 1, 2008. The indicatorsare used to analyze economic outcomesand identify what reforms have worked,where and why.The methodology for the legal rightsof lenders and borrowers, part of the gettingcredit indicators, changed for DoingBusiness 2009. See Data notes for details.About Doing BusinessvOverview 1Starting a business 9Dealing with construction permits 14Employing workers 19Registering property 24Getting credit 29Protecting investors 34Paying taxes 39Trading across borders 44Enforcing contracts 49Closing a business 54Current featuresNews on the Doing Business projecthttp://www.doingbusiness.orgRankingsHow economies rank—from 1 to 181http://www.doingbusiness.org/economyrankingsReformersShort summaries of DB2009 reforms, listsof reformers since DB2004 and a rankingsimulation toolhttp://www.doingbusiness.org/reformersData time seriesCustomized data sets since DB2004http://www.doingbusiness.org/customqueryMethodology and researchThe methodologies and research papersunderlying Doing Businesshttp://www.doingbusiness.org/MethodologySurveysBlogOnline journal focusing on businessregulation reformhttp://blog.doingbusiness.orgDownloadsDoing Business reports as well as subnational,country and regional reports and case studieshttp://www.doingbusiness.org/downloadsSubnational projectsDifferences in business regulations at thesubnational levelhttp://www.doingbusiness.org/subnationalLaw libraryOnline collection of business laws andregulationshttp://www.doingbusiness.org/lawlibraryLocal partnersMore than 6,700 specialists in 181 economieswho participate in Doing Businesshttp://www.doingbusiness.org/LocalPartnersReformers’ ClubCelebrating the top 10 Doing Businessreformershttp://www.reformersclub.orgBusiness PlanetInteractive map on the ease of doing businesshttp://www.doingbusiness.org/mapReferences 58Data notes 61Ease of doing business 79Country tables 85ILO core labor standards 147Acknowledgments 151(c) The International Bank for Reconstruction and Development / The World Bank

(c) The International Bank for Reconstruction and Development / The World Bank

About DoingBusinessIn 1664 William Petty, an adviser toEngland’s Charles II, compiled the firstknown national accounts. He made 4entries. On the expense side, “food, housing,clothes and all other necessaries”were estimated at £40 million. Nationalincome was split among 3 sources: £8million from land, £7 million from otherpersonal estates and £25 million fromlabor income.In later centuries estimates of countryincome, expenditure and materialinputs and outputs became more abundant.But it was not until the 1940s thata systematic framework was developedfor measuring national income and expenditure,under the direction of Britisheconomist John Maynard Keynes. As themethodology became an internationalstandard, comparisons of countries’ financialpositions became possible. Todaythe macroeconomic indicators in nationalaccounts are standard in everycountry.Governments committed to the economichealth of their country and opportunitiesfor its citizens now focus onmore than macroeconomic conditions.They also pay attention to the laws, regulationsand institutional arrangementsthat shape daily economic activity.Until very recently, however, therewere no globally available indicator setsfor monitoring these microeconomicfactors and analyzing their relevance.The first efforts, in the 1980s, drew onperceptions data from expert or businesssurveys. Such surveys are useful gaugesof economic and policy conditions. Buttheir reliance on perceptions and theirincomplete coverage of poor countrieslimit their usefulness for analysis.The Doing Business project, launched7 years ago, goes one step further. It looksat domestic small and medium-size companiesand measures the regulations applyingto them through their life cycle.Doing Business and the standard costmodel initially developed and applied inthe Netherlands are, for the present, theonly standard tools used across a broadrange of jurisdictions to measure theimpact of government rule-making onbusiness activity. 1The first Doing Business report, publishedin 2003, covered 5 indicator sets in133 economies. This year’s report covers10 indicator sets in 181 economies. Theproject has benefited from feedback fromgovernments, academics, practitionersand reviewers. 2 The initial goal remains:to provide an objective basis for understandingand improving the regulatoryenvironment for business.What Doing Business coversDoing Business provides a quantitativemeasure of regulations for starting abusiness, dealing with constructionpermits, employing workers, registeringproperty, getting credit, protectinginvestors, paying taxes, trading acrossbor ders, enforcing contracts and closinga business—as they apply to domesticsmall and medium-size enterprises.A fundamental premise of DoingBusiness is that economic activity requiresgood rules. These include rulesthat establish and clarify property rightsand reduce the costs of resolving disputes,rules that increase the predictability ofeconomic interactions and rules thatprovide contractual partners with coreprotections against abuse. The objective:regulations designed to be efficient, to beaccessible to all who need to use themand to be simple in their implementation.Accordingly, some Doing Businessindicators give a higher score for moreSTARTING A BUSINESS vregulation, such as stricter disclosure requirementsin related-party transactions.Some give a higher score for a simplifiedway of implementing existing regulation,such as completing business start-upformalities in a one-stop shop.The Doing Business project encompasses2 types of data. The first comefrom readings of laws and regulations.The second are time and motion indicatorsthat measure the efficiency inachieving a regulatory goal (such asgranting the legal identity of a business).Within the time and motion indicators,cost estimates are recorded from officialfee schedules where applicable. Here,Doing Business builds on Hernando deSoto’s pioneering work in applying thetime and motion approach first usedby Frederick Taylor to revolutionize theproduction of the Model T Ford. De Sotoused the approach in the 1980s to showthe obstacles to setting up a garment factoryon the outskirts of Lima. 3What Doing Businessdoes not coverJust as important as knowing what DoingBusiness does is to know what it doesnot do—to understand what limitationsmust be kept in mind in interpretingthe data.Limited in scopeDoing Business focuses on 10 topics, withthe specific aim of measuring the regulationand red tape relevant to the life cycleof a domestic small to medium-size firm.Accordingly:• Doing Business does not measure allaspects of the business environmentthat matter to firms or investors—orall factors that affect competitiveness.It does not, for example, measuresecurity, macroeconomic stability,corruption, the labor skills of thepopulation, the underlying strengthof institutions or the quality ofinfrastructure. 4 Nor does it focuson regulations specific to foreigninvestment.(c) The International Bank for Reconstruction and Development / The World Bank

vi Doing Business 2009• Doing Business does not cover allregulations, or all regulatory goals,in any economy. As economies andtechnology advance, more areasof economic activity are beingregulated. For example, the EuropeanUnion’s body of laws (acquis) hasnow grown to no fewer than 14,500rule sets. Doing Business measuresregulation affecting just 10 phasesof a company’s life cycle, through 10specific sets of indicators.Based on standardized casescenariosDoing Business indicators are built on thebasis of standardized case scenarios withspecific assumptions, such as the businessbeing located in the largest businesscity of the economy. Economic indicatorscommonly make limiting assumptionsof this kind. Inflation statistics, for example,are often based on prices of consumergoods in a few urban areas.Such assumptions allow global coverageand enhance comparability. Butthey come at the expense of generality.Business regulation and its enforcementdiffer across an economy, particularly infederal states and large economies. Andof course the challenges and opportunitiesof the largest business city—whetherMumbai or São Paulo, Nuku’alofa orNassau—vary greatly across economies.Recognizing governments’ interestin such variation, Doing Business hascomplemented its global indicators withsubnational studies in such economies asBrazil, China, Mexico, Nigeria, the Philippinesand the Russian Federation. 5 DoingBusiness has also begun a work programfocusing on small island states. 6In areas where regulation is complexand highly differentiated, the standardizedcase used to construct the DoingBusiness indicator needs to be carefullydefined. Where relevant, the standardizedcase assumes a limited liabilitycompany. This choice is in part empirical:private, limited liability companiesare the most prevalent business form inmost economies around the world. Thechoice also reflects one focus of DoingBusiness: expanding opportunities forentrepreneurship. Investors are encouragedto venture into business when potentiallosses are limited to their capitalparticipation.Focused on the formal sectorIn constructing the indicators, DoingBusiness assumes that entrepreneurs areknowledgeable about all regulations inplace and comply with them. In practice,entrepreneurs may spend considerabletime finding out where to go and whatdocuments to submit. Or they may avoidlegally required procedures altogether—by not registering for social security, forexample.Where regulation is particularlyonerous, levels of informality are higher.Informality comes at a cost: firms inthe informal sector typically grow moreslowly, have poorer access to credit andemploy fewer workers—and their workersremain outside the protections oflabor law. 7 Doing Business measures oneset of factors that help explain the occurrenceof informality and give policymakers insights into potential areas ofreform. Gaining a fuller understandingof the broader business environment,and a broader perspective on policy challenges,requires combining insights fromDoing Business with data from othersources, such as the World Bank EnterpriseSurveys. 8Why this focusDoing Business functions as a kind ofcholesterol test for the regulatory environmentfor domestic businesses. A cholesteroltest does not tell us everythingabout the state of our health. But it doesmeasure something important for ourhealth. And it puts us on watch to changebehaviors in ways that will improve notonly our cholesterol rating but also ouroverall health.One way to test whether Doing Businessserves as a proxy for the broaderbusiness environment and for competitivenessis to look at correlations betweenthe Doing Business rankings andother major economic benchmarks. Theindicator set closest to Doing Businessin what it measures is the Organisationfor Economic Co-operation and Development’sindicators of product marketregulation; the correlation here is 0.80.The World Economic Forum’s GlobalCompetitiveness Index and IMD’s WorldCompetitiveness Yearbook are broader inscope, but these too are strongly correlatedwith Doing Business (0.80 and 0.76,respectively). These correlations suggestthat where peace and macroeconomicstability are present, domestic businessregulation makes an important differencein economic competitiveness.A bigger question is whether theissues on which Doing Business focusesmatter for development and poverty reduction.The World Bank study Voices ofthe Poor asked 60,000 poor people aroundthe world how they thought they mightescape poverty. 9 The answers were unequivocal:women and men alike pin theirhopes on income from their own businessor wages earned in employment. Enablinggrowth—and ensuring that poor peoplecan participate in its benefits—requiresan environment where new entrants withdrive and good ideas, regardless of theirgender or ethnic origin, can get started inbusiness and where firms can invest andgrow, generating more jobs.Small and medium-size enterprisesare key drivers of competition, growthand job creation, particularly in developingcountries. But in these economies upto 80% of economic activity takes placein the informal sector. Firms may be preventedfrom entering the formal sectorby excessive bureaucracy and regulation.Where regulation is burdensomeand competition limited, success tendsto depend more on whom you knowthan on what you can do. But whereregulation is transparent, efficient andimplemented in a simple way, it becomeseasier for any aspiring entrepreneurs,regardless of their connections, to operatewithin the rule of law and to benefitfrom the opportunities and protectionsthat the law provides.In this sense Doing Business values(c) The International Bank for Reconstruction and Development / The World Bank

viii Doing Business 2009references to the relevant laws, regulationsand fee schedules, aiding datachecking and quality assurance.For some indicators part of thecost component (where fee schedulesare lacking) and the time componentare based on actual practice rather thanthe law on the books. This introduces adegree of subjectivity. The Doing Businessapproach has therefore been to workwith legal practitioners or professionalswho regularly undertake the transactionsinvolved. Following the standardmethodological approach for time andmotion studies, Doing Business breaksdown each process or transaction, suchas starting and legally operating a business,into separate steps to ensure a betterestimate of time. The time estimatefor each step is given by practitionerswith significant and routine experiencein the transaction.Over the past 6 years more than10,000 professionals in 181 economieshave assisted in providing the data thatinform the Doing Business indicators.This year’s report draws on the inputs ofmore than 6,700 professionals. The DoingBusiness website indicates the numberof respondents per economy and perindicator (see table 12.1 in Data notes forthe number of respondents per indicatorset). Because of the focus on legal andregulatory arrangements, most of therespondents are lawyers. The credit informationsurvey is answered by officialsof the credit registry or bureau. Freightforwarders, accountants, architects andother professionals answer the surveysrelated to trading across borders, taxesand construction permits.The Doing Business approach todata collection contrasts with that ofperception surveys, which capture oftenone-time perceptions and experiences ofbusinesses. A corporate lawyer registering100–150 businesses a year will bemore familiar with the process than anentrepreneur, who will register a businessonly once or maybe twice. A bankruptcyjudge deciding dozens of cases a year willhave more insight into bankruptcy than acompany that may undergo the process.Development of themethodologyThe methodology for calculating eachindicator is transparent, objective andeasily replicable. Leading academics collaboratein the development of the indicators,ensuring academic rigor. Six ofthe background papers underlying theindicators have been published in leadingeconomic journals. Another 2 are atan advanced stage of publication in suchjournals.Doing Business uses a simple averagingapproach for weighting subindicatorsand calculating rankings. Other approacheswere explored, including usingprincipal components and unobservedcomponents. 15 The principal componentsand unobserved components approachesturn out to yield results nearly identical tothose of simple averaging. The tests showthat each set of indicators provides newinformation. The simple averaging approachis therefore robust to such tests.Improvements to themethodology and data revisionsThe methodology has undergone continualimprovement over the years. Changeshave been made mainly in responseto suggestions from economies in theDoing Business sample. For enforcingcontracts, for example, the amount ofthe disputed claim in the case scenariowas increased from 50% to 200% ofincome per capita after the first year, asit became clear that smaller claims wereunlikely to go to court.Another change relates to starting abusiness. The minimum capital requirementcan be an obstacle for potentialentrepreneurs. Initially, Doing Businessmeasured the required minimum capitalregardless of whether it had to be paidup front or not. In many economies onlypart of the minimum capital has to bepaid up front. To reflect the actual potentialbarrier to entry, the paid-in minimumcapital has been used since 2004.This year’s report includes onechange in the core methodology, to thestrength of legal rights index, which ispart of the getting credit indicator set.All changes in methodology areexplained in the report as well as onthe Doing Business website. In addition,data time series for each indicator andeconomy are available on the website,beginning with the first year the indicatoror economy was included in thereport. To provide a comparable timeseries for research, the data set is backcalculatedto adjust for changes in methodologyand any revisions in data dueto corrections. The website also makesavailable all original data sets used forbackground papers.Information on data corrections isprovided on the website (also see Datanotes). A transparent complaint procedureallows anyone to challenge thedata. If errors are confirmed after a dataverification process, they are expeditiouslycorrected.notes1. The standard cost model is a quantitativemethodology for determining theadministrative burdens that regulationimposes on businesses. The method canbe used to measure the effect of a singlelaw or of selected areas of legislation orto perform a baseline measurement ofall legislation in a country.2. In the past year this has included a reviewby the World Bank Group IndependentEvaluation Group (2008).3. De Soto (2000).4. The indicators related to trading acrossborders and dealing with constructionpermits take into account limitedaspects of an economy’s infrastructure,including the inland transport of goodsand utility connections for businesses.5. http://www.doingbusiness.org/subnational.6. http://www.doingbusiness.org.7. Schneider (2005).8. http://www.enterprisesurveys.org.9. Narayan and others (2000).10. World Bank (2003).11. http://scholar.google.com.12. For example, Masatlioglu and Rigolini(2008), Kaplan, Piedra and Seira (2008)and Djankov, Ganser, McLiesh, Ramalhoand Shleifer (2008).(c) The International Bank for Reconstruction and Development / The World Bank

ABout doing business ix13. For example, Alesina and others (2005),Perotti and Volpin (2004), Klapper,Laeven and Rajan (2006), Fisman andSarria-Allende (2004), Antunes and Cavalcanti(2007), Barseghyan (2008) andDjankov, Ganser, McLiesh, Ramalho andShleifer (2008).14. For example, Freund and Bolaky (forthcoming),Chang, Kaltani and Loayza(forthcoming) and Helpman, Melitz andRubinstein (2008).15. See Djankov and others (2005).(c) The International Bank for Reconstruction and Development / The World Bank

(c) The International Bank for Reconstruction and Development / The World Bank

OverviewFIGURE 1.1Which regions have some of the most business-friendly regulations?DB2009 ranking on the ease of doing business (1–181)OECDhigh incomeEastern Europe& Central AsiaEast Asia& PacificMiddle East& North AfricaLatin America& Caribbean1AVERAGERANK2776819092STARTING A BUSINESS 1EACH LINE SHOWSTHE RANK OF ONEECONOMY IN THE REGION181South Asia111Sub-SaharanAfrica138Source: Doing Business database.For the fifth year in a row Eastern Europeand Central Asia led the world in DoingBusiness reforms. Twenty-six of the region’s28 economies implemented a totalof 69 reforms. Since 2004 Doing Businesshas been tracking reforms aimed at simplifyingbusiness regulations, strengtheningproperty rights, opening up accessto credit and enforcing contracts by measuringtheir impact on 10 indicator sets. 1Nearly 1,000 reforms with an impacton these indicators have been captured.Eastern Europe and Central Asia has accountedfor a third of them.The region surpassed East Asiaand Pacific in the average ease of doingbusiness in 2007—and maintained itsplace this year (figure 1.1). Four of itseconomies—Georgia, Estonia, Lithuaniaand Latvia—are among the top 30 in theoverall Doing Business ranking.Rankings on the ease of doing businessdo not tell the whole story about aneconomy’s business environment. Theindicator does not account for all factorsimportant for doing business—forexample, macroeconomic conditions, infrastructure,workforce skills or security.But improvement in an economy’s rankingdoes indicate that its government iscreating a regulatory environment moreconducive to operating a business. InEastern Europe and Central Asia manyeconomies continue to do so—and economiesin the region once again dominatethe list of top Doing Business reformersin 2007/08. New this year: reforms in theregion are moving eastward as 4 newcomersjoin the top 10 list of reformers:Azerbaijan, Albania, the Kyrgyz Republicand Belarus (table 1.1).Many others reformed as well.Worldwide, 113 economies implemented239 reforms making it easier to do businessbetween June 2007 and June 2008.That is the most reforms recorded ina single year since the Doing Businessproject started. In the past year reformersfocused on easing business start-up,lightening the tax burden, simplifyingimport and export regulation and improvingcredit information systems.Across regions, East Asia had thebiggest pickup in the pace of reform.Table 1.1The top 10 reformers in 2007/08EconomyStarting abusinessDealing withconstructionpermitsEmployingworkersRegisteringpropertyGettingcreditProtectinginvestorsPayingtaxesTradingacrossbordersEnforcingcontractsClosing abusinessAzerbaijan 4 4 4 4 4 4 4Albania 4 4 4 4Kyrgyz Republic 4 4 4Belarus 4 4 4 4 4 4Senegal 4 4 4Burkina Faso 4 4 4 4Botswana 4 4 4Colombia 4 4 4 4 4Dominican Republic 4 4 4 4Egypt 4 4 4 4 4 4Note: Economies are ranked on the number and impact of reforms. First, Doing Business selects the economies that implemented reforms making it easier to do business in 3 or more of the Doing Business topics.Second, it ranks these economies on the increase in rank on the ease of doing business from the previous year. The larger the improvement, the higher the ranking as a reformer.Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

2 Doing Business 2009gal149RMSa157RMSFasoSne181FIGURE 1.2Eastern European andCentral Asian economies—leaders in Doing Business reformsShare of economies with at least 1 reformmaking it easier to do business in past 5 years (%)by Doing Business report yearEastern Europe & Central Asia(28 economies)DB2005DB2006DB2007DB2008DB2009East Asia & Pacific(24 economies)DB2005DB2006DB2007DB2008DB2009Middle East & North Africa(19 economies)DB2005DB2006DB2007DB2008DB2009Sub-Saharan Africa(46 economies)DB2005DB2006DB2007DB2008DB2009OECD high income(24 economies)DB2005DB2006DB2007DB2008DB2009South Asia(8 economies)DB2005DB2006DB2007DB2008DB200922253846334630Latin America & Caribbean(32 economies)DB2005DB2006DB2007DB2008DB200925Source: Doing Business database.384747535350505063636552615056507571796363638293898293Two-thirds of its economies reformed,up from less than half last year (figure1.2). The Middle East and North Africacontinued its upward trend, withtwo-thirds of its economies reforming.In a region once known for prohibitiveentry barriers, 2 countries—Tunisia andYemen—eliminated the minimum capitalrequirement for starting a business,while Jordan reduced it from 30,000Jordanian dinars to 1,000.Sub-Saharan Africa continued itsupward trend in reform too: 28 economiesimplemented 58 reforms, morethan in any year since Doing Businessbegan tracking reforms. Two West Africancountries led the way, Senegal andBurkina Faso. In Latin America, Colombiaand the Dominican Republic were themost active. OECD high-income economiessaw a slowdown in reform. So didSouth Asia.Azerbaijan is the top reformer for2007/08. A one-stop shop for businessstart-up began operating in January 2008,halving the time, cost and number ofprocedures to start a business. Businessregistrations increased by 40% in thefirst 6 months. Amendments to the laborcode made employment regulation moreflexible by allowing the use of fixed-termcontracts for permanent tasks, easingrestrictions on working hours and eliminatingthe need for reassignment in caseof redundancy dismissals. And propertytransfers can now be completed in 11days—down from 61 before—thanks toa unified property registry for land andreal estate transactions.That’s not all. Azerbaijan eliminatedthe minimum loan cutoff of $1,100 at thecredit registry, more than doubling thenumber of borrowers covered. Minorityshareholders enjoy greater protection,thanks to amendments to the civilcode and a new regulation on relatedpartytransactions. Such transactionsnow are subject to stricter requirementsfor disclosure to the supervisory boardand in annual reports. Moreover, interestedparties involved in a related-partytransaction harmful to the companymust cover the damages and pay backpersonal profits.Taxpayers in Azerbaijan now takeadvantage of online filing and paymentof taxes, saving more than 500 hours ayear on average in dealing with paperwork.And a new economic court in Bakuhelped speed contract enforcement. Withthe number of judges looking at commercialcases increasing from 5 to 9, theaverage time to resolve a case declinedby 30 days.Albania is the runner-up, with reformsin 4 of the areas measured byDoing Business. A new company lawstrengthened the protection of minorityshareholder rights. The law tightenedapproval and disclosure requirementsfor related-party transactions and, forthe first time, defined directors’ duties.It also introduced greater remedies topursue if a related-party transaction isharmful to the company. Albania madestart-up easier by taking commercial registrationout of the court and creating aone-stop shop. Companies can now starta business in 8 days—it used to takemore than a month. The country’s firstcredit registry opened for business. Andtax reforms halved the corporate incometax rate to 10%.Africa—more reform thanever beforeEconomies in Africa implemented moreDoing Business reforms in 2007/08 thanin any previous year covered. And 3of the top 10 reformers are African:Senegal, Burkina Faso and Botswana.Three postconflict countries—Liberia,Rwanda and Sierra Leone—are reformingfast too (figure 1.3). Mauritius, thecountry with the region’s most favorablebusiness regulations, continues toreform, and this year joins the top 25 onthe ease of doing business.This focus on reform comes afterseveral years of record economic growthin Africa. Annual growth has averagednearly 6% in the past decade, thanks tobetter macroeconomic conditions andgreater peace on the continent. Withmore economic opportunities, regulatory(c) The International Bank for Reconstruction and Development / The World Bank

FIGURE 1.3Who reformed the most in Africa in 2007/08?Improvement in the ranking on the ease of doing business, DB2008–DB20091 10 20 30 40 50 130 140 150 160 170Mauritius29 TO 243 REFORMSSource: Doing Business database.Botswana52 TO 383 REFORMSconstraints on businesses have becomemore pressing. Governments increasinglyfocus on reducing these constraints. Andreformers recognize that bringing moreeconomic activity to the formal sectorthrough business and job creation is themost promising way to reduce poverty. 2Rwanda is one example of the dividendsof peace and good macroeconomicpolicies. The country has beenamong the most active reformers ofbusiness regulation worldwide this decade.In 2001 it introduced a new laborlaw as part of the national reconstructionprogram. In 2002 it started propertytitling reform. In 2004 reformerssimplified customs, improved the creditregistry and undertook court reforms. In2007 Rwanda continued with propertyregistration and customs. Some reformstook longer to implement. For example,judicial reforms were initiated in 2001,but it was not until 2008 that the necessarylaws were passed and new commercialcourts started functioning. 3Most African reformers focused oneasing start-up and reducing the cost ofimporting and exporting. There is roomto do more. Entrepreneurs in Africa stillface greater regulatory and administrativeburdens, and less protection of propertyand investor rights, than entrepreneursin any other region. The upside:reform in such circumstances can senda strong signal of governments’ commitmentto sound institutions and policies,catalyzing investor interest.Rwanda148 TO 1394 REFORMSMadagascar151 TO 1444 REFORMSSenegal168 TO 1493 REFORMSLiberia167 TO 1574 REFORMSBurkina Faso164 TO 1484 REFORMSSierra Leone163 TO 1564 REFORMSEasing entry—once againthe most popular reform181Making it easier to start a business continuedto be the most popular Doing Businessreform in 2007/08. Forty-nine economiessimplified start-up and reduced the cost(figure 1.4). These are among the 115economies—more than half the world’stotal—that have reformed in this area overthe past 5 years. The second most popularwere reforms to simplify taxes and theiradministration. Third were reforms toease trade. In all 3 areas much can beachieved with administrative reforms.Reforms in other areas can be harder,particularly if they require legal changesor involve difficult political tradeoffs.Only 12 economies reformed their judicialsystem. Seven amended collateral orsecured transactions laws. Six amendedlabor regulations to make them moreflexible; 9 opted for more rigidity.The 3 boldest reforms driving thebiggest improvements in the Doing Businessindicators (table 1.2):• Albania’s increase in investorprotections• Yemen’s easing of business start-up• The Dominican Republic’s tax reform.Latin America & Caribbean(32 economies)DB2005DB2006DB2007Reform continues38amongbest performersDB2008DB200925overview 35056Singapore OECD high income continues to rank at the top on(24 economies)the ease of doing business, followed byDB200575New Zealand, the United States and HongDB200671Kong DB2007 (China) (table 1.3). And reform 79continues. DB2008 Five of the top 1063economiesDB200950implemented reforms that had an impacton the Doing Business indicatorsSouth Asiain (8 economies) 2007/08. Singapore further simplifiedits DB2005 online business start-up 50 service. NewZealandDB200663introduced a single online procedureDB200725DB2008for business start-up, 63 lowered thecorporate DB2009 income tax and 50implemented anew insolvency act. Hong Kong (China)streamlined construction permitting asSource: part Doing of a Business broader database. reform of its licensingregime. Denmark implemented taxreforms. And entrepreneurs in Toronto,Canada, can now start a business withjust one procedure.This continuing reform is not surprising.Many high-income economieshave institutionalized regulatory reform,setting up programs to systematicallytarget red tape. Examples include the“Be the Smart Regulator” program inHong Kong (China), Simplex in Portugal,the Better Regulation Executivein the United Kingdom, Actal in theNetherlands and Kafka in Belgium. Toidentify priorities, these governmentsroutinely ask businesses what needs reform.Belgium reformed business registrationafter 2,600 businesses identifiedit as a major problem in 2003. Starting abusiness there used to take 7 proceduresand nearly 2 months. Today it takes 3Table 1.2Top reformers in 2007/08 by indicator setStarting a businessDealing with constructionpermitsEmploying workersRegistering propertyGetting creditProtecting investorsPaying taxesTrading across bordersEnforcing contractsClosing a businessSource: Doing Business database.50YemenKyrgyz RepublicBurkina FasoBelarusCambodiaAlbaniaDominican RepublicSenegalMozambiquePoland(c) The International Bank for Reconstruction and Development / The World Bank

4 Doing Business 2009FIGURE 1.4239 reforms in 2007/08 made it easier to do business—26 made it more difficult49Reformsmaking iteasier todo businessAlbaniaAngolaAzerbaijanBangladeshBelarusBotswanaBulgariaCanadaColombiaCosta RicaCzech RepublicDominican RepublicEgyptEl SalvadorGeorgiaGhanaGreeceHungaryItalyJordanKenyaKyrgyz RepublicLebanonLesothoLiberiaMacedonia, formerYugoslav Republic ofMadagascarMalaysiaMauritaniaMauritiusMoldovaNamibiaNew ZealandOmanPanamaSaudi ArabiaSenegalSierra LeoneSingaporeSlovakiaSloveniaSouth AfricaSyriaTongaTunisiaUruguayWest Bank and GazaYemenZambia18AngolaArmeniaBelarusBosnia and HerzegovinaBurkina FasoColombiaCroatiaEgyptHong Kong, ChinaJamaicaKyrgyz RepublicLiberiaMauritaniaPortugalRwandaSierra LeoneSingaporeTonga6ArgentinaAzerbaijanBurkina FasoCzech RepublicMozambiqueSlovenia24AzerbaijanBangladeshBelarusBosnia and HerzegovinaBurkina FasoCongo, Rep.Dominican RepublicEgyptGeorgiaHungaryJamaicaKazakhstanLatviaLithuaniaMacedonia, formerYugoslav Republic ofMadagascarMauritiusRwandaSaudi ArabiaSenegalSerbiaSierra LeoneThailandZambia32AlbaniaAzerbaijanBelarusCambodiaCameroonCentral African RepublicChadChinaCongo, Rep.EgyptEquatorial GuineaFinlandGabonGeorgiaGuatemalaIndonesiaKazakhstanLiberiaMacedonia, formerYugoslav Republic ofMauritiusMoldovaMontenegroMoroccoSri LankaTaiwan, ChinaTunisiaUkraineUnited Arab EmiratesUzbekistanVanuatuVietnamWest Bank and GazaStartinga businessDealing withconstruction permitsEmployingworkersRegisteringpropertyGettingcreditReformsmaking itmore difficultto do businessIndonesiaSwitzerlandBeninBulgariaFijiMontenegroSerbiaTajikistanUkraineWest Bank and GazaZimbabweCape VerdeChinaFijiThe GambiaItalyKazakhstanKoreaSwedenUnited KingdomSource: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

overview 53612AlbaniaAzerbaijanBotswanaEgyptGreeceKyrgyz RepublicSaudi ArabiaSloveniaTajikistanThailandTunisiaTurkeyProtectinginvestorsAlbaniaAntigua and BarbudaAzerbaijanBelarusBosnia and HerzegovinaBulgariaBurkina FasoCanadaChinaColombiaCôte d’IvoireCzech RepublicDenmarkDominican RepublicFranceGeorgiaGermanyGreeceHondurasItalyMacedonia, formerYugoslav Republic ofMadagascarMalaysiaMexicoMongoliaMoroccoMozambiqueNew ZealandSamoaSouth AfricaSt. Vincent and the GrenadinesThailandTunisiaUkraineUruguayZambiaPayingtaxes34BelarusBeninBotswanaBrazilColombiaCroatiaDjiboutiDominican RepublicEcuadorEgyptEl SalvadorEritreaFranceHaitiHondurasIndiaKenyaKoreaLiberiaMacedonia, formerYugoslav Republic ofMadagascarMaliMongoliaMoroccoNigeriaPalauPhilippinesRwandaSenegalSierra LeoneSyriaThailandUkraineUruguayTradingacross borders12ArmeniaAustriaAzerbaijanBelgiumBhutanBulgariaChinaMacedonia, formerYugoslav Republic ofMozambiquePortugalRomaniaRwandaEnforcingcontracts16Bosnia and HerzegovinaBulgariaCambodiaColombiaCzech RepublicFinlandGermanyGreeceHong Kong, ChinaLatviaMexicoNew ZealandPolandPortugalSaudi ArabiaSt. Vincent and the GrenadinesClosinga businessBotswanaVenezuelaEquatorial GuineaGabonTunisiaBolivia(c) The International Bank for Reconstruction and Development / The World Bank

6 Doing Business 2009Table 1.3Rankings on the ease of doing business2009RANK2008rankEconomy1 1 Singapore2 2 New Zealand3 3 United States4 4 Hong Kong, China5 5 Denmark6 6 United Kingdom7 7 Ireland8 8 Canada9 10 Australia10 9 Norway11 11 Iceland12 12 Japan13 19 Thailand14 13 Finland15 21 Georgia16 24 Saudi Arabia17 14 Sweden18 17 Bahrain19 16 Belgium20 25 Malaysia21 15 Switzerland22 18 Estonia23 22 Korea24 29 Mauritius25 20 Germany26 27 Netherlands27 23 Austria28 28 Lithuania29 26 Latvia30 30 Israel31 32 France32 35 South Africa33 97 Azerbaijan34 33 St. Lucia35 31 Puerto Rico36 37 Slovakia37 38 Qatar38 52 Botswana39 34 Fiji40 36 Chile41 50 Hungary42 39 Antigua and Barbuda43 40 Tonga44 41 Armenia45 44 Bulgaria46 54 United Arab Emirates47 47 Romania48 43 Portugal49 46 Spain50 45 Luxembourg51 48 Namibia52 49 Kuwait53 66 Colombia54 64 Slovenia55 51 Bahamas, The56 42 Mexico57 57 Oman58 55 Mongolia59 60 Turkey60 67 Vanuatu61 58 Taiwan, China2009RANK2008rankEconomy62 53 Peru63 62 Jamaica64 56 Samoa65 59 Italy66 61 St. Vincent and the Grenadines67 63 St. Kitts and Nevis68 99 Kyrgyz Republic69 68 Maldives70 80 Kazakhstan71 79 Macedonia, former YugoslavRepublic of72 77 El Salvador73 81 Tunisia74 70 Dominica75 65 Czech Republic76 72 Poland77 74 Pakistan78 69 Belize79 75 Kiribati80 71 Trinidad and Tobago81 76 Panama82 78 Kenya83 90 China84 73 Grenada85 115 Belarus86 135 Albania87 82 Ghana88 83 Brunei89 85 Solomon Islands90 84 Montenegro91 88 Palau92 87 Vietnam93 86 Marshall Islands94 91 Serbia95 89 Papua New Guinea96 106 Greece97 110 Dominican Republic98 123 Yemen99 98 Lebanon100 101 Zambia101 94 Jordan102 103 Sri Lanka103 92 Moldova104 93 Seychelles105 95 Guyana106 107 Croatia107 96 Nicaragua108 100 Swaziland109 113 Uruguay110 104 Bangladesh111 105 Uganda112 116 Guatemala113 102 Argentina114 125 Egypt115 108 Paraguay116 109 Ethiopia117 118 Costa Rica118 114 Nigeria119 117 Bosnia and Herzegovina120 112 Russian Federation121 111 Nepal2009RANK2008rankEconomy122 120 India123 119 Lesotho124 122 Bhutan125 126 Brazil126 121 Micronesia127 124 Tanzania128 129 Morocco129 127 Indonesia130 128 Gambia, The131 132 West Bank and Gaza132 130 Algeria133 134 Honduras134 131 Malawi135 150 Cambodia136 133 Ecuador137 145 Syria138 140 Uzbekistan139 148 Rwanda140 136 Philippines141 139 Mozambique142 138 Iran143 137 Cape Verde144 151 Madagascar145 144 Ukraine146 141 Suriname147 142 Sudan148 164 Burkina Faso149 168 Senegal150 149 Bolivia151 143 Gabon152 146 Iraq153 153 Djibouti154 147 Haiti155 152 Comoros156 163 Sierra Leone157 167 Liberia158 154 Zimbabwe159 156 Tajikistan160 166 Mauritania161 155 Côte d’Ivoire162 161 Afghanistan163 159 Togo164 158 Cameroon165 162 Lao PDR166 160 Mali167 165 Equatorial Guinea168 169 Angola169 157 Benin170 170 Timor-Leste171 172 Guinea172 171 Niger173 173 Eritrea174 175 Venezuela175 176 Chad176 177 São Tomé and Principe177 174 Burundi178 178 Congo, Rep.179 179 Guinea-Bissau180 180 Central African Republic181 181 Congo, Dem. Rep.Note: The rankings for all economies are benchmarked to June 2008 and reported in the country tables. Rankings on the ease of doing business are the average of the economy’s rankings on the 10 topics coveredin Doing Business 2009. Last year’s rankings are presented in italics. These are adjusted for changes in the methodology, data corrections and the addition of 3 new economies.Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

overview 7procedures and 4 days. New businessregistrations increased by 30% in 2 years.In Portugal 86 of the 257 initiatives of theSimplex program came from discussionswith businesses.Simplifying regulation helps businessesand governments alike. In Portugalthe “on the spot” registration reformsaved entrepreneurs 230,000 days a yearin waiting time. 4 And the governmentsaves money. The United Kingdom estimatedan annual administrative burdenfor businesses of £13.7 billion in2005. Easing such burdens would allowbusinesses to expand faster and generatesavings that governments could use toenhance public services.Five years of Doing BusinessreformThe key to regulatory reform? Commitment.For many economies the reformscaptured in Doing Business reflect abroader, sustained commitment to improvingtheir competitiveness. Amongthese systematic reformers: Azerbaijan,Georgia and the former Yugoslav Republicof Macedonia in Eastern Europe andCentral Asia. France and Portugal amongthe OECD high-income economies. Egyptand Saudi Arabia in the Middle East andNorth Africa. India in South Asia. Chinaand Vietnam in East Asia. Colombia,Guatemala and Mexico in Latin America.And Burkina Faso, Ghana, Mauritius,Mozambique and Rwanda in Africa.Each of these countries has reformed inat least 5 of the areas covered by DoingBusiness, implementing up to 22 reformsin one country over the past 5 years.Several reformers were motivated bygrowing competitive pressure related tojoining common markets or trade agreements,such as the European Union (theformer Yugoslav Republic of Macedonia)or the U.S.–Central America Free TradeAgreement (Guatemala). Others saw aneed to facilitate local entrepreneurship(Azerbaijan, Colombia, Egypt) or diversifytheir economy (Mauritius, SaudiArabia). And others faced the dauntingtask of reconstructing their economyafter years of conflict (Rwanda).Many of the reformers started bylearning from others. Egypt looked toIndia for information technology solutions.Colombia took Ireland as an example.As the country’s trade minister,Luis Guillermo Plata, put it, “It’s not likebaking a cake where you follow the recipe.No. We are all different. But we cantake certain things, certain key lessons,and apply those lessons and see how theywork in our environment.”Several now serve as examples toothers. The Azerbaijan reformers visitedGeorgia and Latvia. Angola has requestedlegal and technical assistancebased on the Portuguese model of businessstart-up.The most active reformers did notshy away from broad reform programs.Since 2005 Georgia has introduced a newcompany law and customs code, a newproperty registry that replaced a confusingsystem requiring duplicate approvalsby multiple agencies, the country’s firstcredit information bureau and large-scalejudicial reforms. Egypt has implementedone-stop shops for import and export andbusiness start-up, undertaken sweepingtax reforms, continually improved itscredit information systems and modifiedthe listing rules of the Cairo StockExchange. Colombia has strengthenedinvestor protections through stricter disclosurerules, amended insolvency lawsand reformed customs. And its one-stopshop for business start-up has served asan inspiration to others in the region.Among emerging market reformers,India has focused on technology,implementing electronic registration ofnew businesses, an electronic collateralregistry and online submission of customsforms and payments. China hasfocused on easing access to credit. In2006 a new credit registry allowed morethan 340 million citizens to have credithistories for the first time. A new companylaw lowered the minimum capitalrequirement and strengthened investorprotections. And in 2007 a new propertylaw expanded the range of assetsthat can be used as collateral. Mexicohas focused on strengthening investorprotections through a new securities lawwhile continually reducing bureaucracyat the state level.Regulatory reform—what are the benefits?Of Egypt’s estimated 25 million urbanproperties, only 7% were formally registeredin 2005. Six months after reformsof its property registry, title registrationincreased and revenue rose by 39%. 5After reforms of the property registryin Tegucigalpa, Honduras, the registryreceived 65% more registration applicationsbetween July and December of2007 than in the same period of 2006.Similarly, a reduction in the minimumcapital requirement was followedby an increase in new company registrationsof 55% in Georgia and 81% in SaudiArabia. Georgia now has 15 registeredbusinesses per 100 people—comparableto numbers in such economies as Malaysiaand Singapore.Initial results like these show thatreforms are leading to change on theground. Confirming this are the findingsof an increasing number of studiesusing the Doing Business data to analyzethe effect of regulatory burdens on suchoutcomes as informality, job creation,productivity, economic growth and povertyreduction. 6Research generally finds that countrieswith burdensome regulation havelarger informal sectors, higher unemploymentrates and slower economicgrowth. More recent research gives firstinsights into the impact of reforms. Onestudy reports some of the payoffs ofreforms in Mexico: the number of registeredbusinesses rose by nearly 6%, employmentincreased by 2.6%, and pricesfell by 1% thanks to competition fromnew entrants. 7 Another study finds thatincreasing the flexibility of labor regulationsin India would reduce job informalityin the retail sector by a third. 8But nothing says more than theexperience of the people affected. Janet,who runs a business producing baskets(c) The International Bank for Reconstruction and Development / The World Bank

8 Doing Business 2009in Kigali, Rwanda, says, “I have survivors,I have widows, I have womenwhose husbands are in prison. To seethem sitting under one roof weavingand doing business together is a hugeachievement . . . these women are nowtogether earning an income.” 9notes1. Doing Business records only reformsrelevant to the 10 indicator sets. Legalchanges are counted once the respectivelegislation and implementing decrees, ifapplicable, are effective. Administrativereforms such as the introduction of timelimits must be fully implemented.2. Narayan and others (2000).3. Hertveldt (2008).4. Ramos (2008).5. Haidar (2008).6. The data on the regulation of entry, forexample, have been used in 168 articlespublished in refereed journals and morethan 200 research working papers. Thedata on the efficiency of court proceedingshave been used in 54 articles and86 working papers. Altogether, the datagenerated by the Doing Business projecthave been used in 325 published articlesand 742 working papers.7. Bruhn (2008).8. Amin (forthcoming).9. This example is from the World Bank’sDoing Business: Women in Africa (2008a),a collection of case studies of Africanentrepreneurs.(c) The International Bank for Reconstruction and Development / The World Bank

South Asia(8 economies) 6Note: A rSource: DOverviewStarting abusinessDealing with construction permitsEmploying workersRegistering propertyGetting creditProtecting investorsPaying taxesTrading across bordersEnforcing contractsClosing a businessNote: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.FIGURE 2.1Top 10 reformers in starting a businessAverage improvement200746% 65% 54% 28% 1.2.3.4.YemenSloveniaSenegalAlbania20085.6.7.8.9.10.LiberiaAzerbaijanSyriaHungaryOmanSierra LeoneProcedures Time Cost Paid-inminimumcapitalSource: Doing Business database.STARTING A BUSINESS 9FIGUREStartingets faTime and2004Time (d1220Cost(% of inc14.4Julian started out working for her brothers.But she was saving to start her ownbusiness. She began trading, travelingfrom Uganda to neighboring Kenya tobuy goods for resale. “I would take theovernight bus and stand up the wholeway to get the 50% discount,” she recalls.“My aim was to start a juice processingbusiness, a real factory.”Once she had saved enough money,Julian began production. Unable to affordtransport, she had to take her productsby foot to the government chemistfor testing. “My only means of transportwas my wheelbarrow, and I was thewhole company.”Julian also remembers how arduousit was to register her business. “Therewas so much to do and so many differentplaces I had to go—for businessregistration and taxpayer identificationFIGURE Table 2.6 2.1One-stop Where is it shops—same easy to start name, a business—anddifferent resultsTime where and procedures not? to start a businessnumbers, different licenses from differentauthorities, a declaration that had tobe made before a commissioner of oaths,a company seal to get, inspections ofmy premises from municipal and healthauthorities. I remember paying a lawyerwhat seemed to me a gigantic fee ofUSh 500,000 [$279].” 1Entrepreneurs like Julian now haveit easier. Reforms in Uganda and in manyother economies have streamlined businessstart-up in the past 5 years. Look atAzerbaijan. In 2004 its government set apreliminary time limit for the registrationprocess. In 2005 it introduced asilence-is-consent rule for tax registration.A year later it further tightened thetime limit for business registration. In2007 it abolished the need for a companyseal. And in 2007/08 it set up a one-stopshop. Starting a business used to take 122days. Now it takes only 16 (figure 2.3).Formal incorporation of companieshas several benefits. Legal entities outlivetheir founders. Resources are oftenOne-stop shoppooled as shareholders join forces tostart a company. And companies have accessto services and institutions rangingfrom courts to commercial banks.But many Required economies make startingadditionaland legally running procedures a business as measuredby Doing Business so cumbersomethat entrepreneurs opt out and operate inthe informal sector.Simpler entry encourages the creationof new companies. Take Senegal,which reformed business registration inEasiestParaguayRank Most difficult RankNew Zealand 1 Cameroon 172Belarus Canada 2 Djibouti 173Australia 3 Equatorial Guinea 174Burkina FasoGeorgia 4 Iraq 175Morocco Ireland 5 Haiti 176United States 6 Guinea 177Turkey Mauritius 7 Eritrea 178United Kingdom 0 8 Togo 10 17920 30Puerto Rico 9 Chad Time to 180 start a business (days)Source: Doing Business database.Singapore 10 Guinea-Bissau 181FIGURE Note: Rankings 2.4 are the average of the economy rankings on theprocedures, time, cost and paid-in minimum capital for starting aEasternbusiness. SeeEuropeData notes for&details.Central Asia leads reforms, Africa runner-upSource: Doing Business database. Number of reforms easing business start-upby Doing Business report yearDB2005 DB2006 DB2007 DB2008 DB2009Eastern Europe& Central AsiaJuly 2007. By May 2008 entrepreneurs hadregistered 3,060 new firms, 80% more thanin the previous year. Studies in Mexico,India, Brazil and the Russian Federationall conclude that simpler entry regimesare associated with more new firms beingregistered. The study in Mexico analyzesthe effect of making it simpler to get amunicipal license, 1 of several proceduresrequired to start a business. The finding:easing business entry increased new startupsby about 4%. 2Easier start-up is also correlatedwith higher productivity among existingfirms. A recent study, in an analysis of 97countries, finds that reducing entry costsby 80% of income per capita increasestotal factor productivity by an estimated22%. Analyzing 157 countries, it findsthat the same reduction in entry costsraises output per worker by an estimatedFIGURE 2.2Rankings on starting a businessare based on 4 subindicatorsPreregistration,registration andpostregistrationProcedure iscompleted whenfinal documentis receivedFIGURE 2.5Top 5 reform featuresin starting a business(c) The International Bank for Reconstruction and Development 52 / The World BankAs % of income percapita, no bribes included25% 25%Time Cost25%ProceduresNote: See Data notes for details.25%Paid-inminimumcapitalFunds deposited in a bankor with a notary beforeregistration0Source: D

7%Cut or simplified postregistration proceduresNote: A reform may include several reform features.10 Doing Business 2009Source: Doing Business database.FIGURE 2.3Starting a business in Azerbaijangets faster and cheaperTime and cost to start a business2004Time (days)1220Cost(% of income per capita)14.402005 2006 2007 200811412.3Source: Doing Business database.529.3Time cutby 87%Cost cutby 77%306.9163.229%. 3 One reason for these large effectsmay be that reducing entry costsincreases entry pressure, pushing firmswith lower productivity out of the market.Indeed, a study on business entryin Mexico finds that competition fromnew entrants lowered prices by 1% andreduced the income of incumbent businessesby 3.5%. 4Simpler and faster business entrymakes it easier for workers and capitalto move across sectors when economiesexperience economic shocks. A recentstudy of 28 sectors in 55 countries comparessectoral employment reallocationin the 1980s and 1990s. The finding: reallocationis smoother in countries where ittakes fewer days to start a business. 5 Thisfinding is confirmed by many studies onthe effect of entry regulation in economiesopening their product markets to trade. 6The explanation is simple: with high fixedcosts of entry, firms cannot easily moveinto the industries benefiting the mostfrom trade openness. This friction reducesthe value of greater openness.Recognizing such benefits, economiesaround the world have been developinginnovative solutions to ease theentry of new firms into the market. Asone company registrar put it, “At the endof the day, we all have the same goal.”Yet as Doing Business shows, companyregistration is often only one pieceof the puzzle. In many economies entrepreneurshave to visit at least 7 agenciesbefore they can get down to business.The most efficient economies focuson creating a single interface betweengovernment and entrepreneur to takecare of all necessary registrations andnotifications, mainly commercial andtax registration. Entrepreneurs in NewZealand, for example, have to file all necessaryinformation only once—becauseagencies are linked through a unifieddatabase. There is no minimum capitalrequirement. And no judge has to approvethe creation of a company.Who reformed in 2007/08?In 2007/08, 49 economies made it easierto start a business—more reforms thanin any previous year (table 2.2). Onehighlight of the reforms: entrepreneursin Canada and New Zealand can nowstart a business with a single onlineprocedure.Yemen reformed business start-upthe most. In 2007 it had the second largestminimum capital requirement in theworld at $15,225 (2,003% of income percapita). This is now gone, reduced tozero. That’s not all. Yemen also activatedits one-stop shop, making it possible tocomplete all steps—from reserving thecompany name to obtaining a license forincorporation to announcing the company’sformation—in a single location.It made it easier to obtain a license fromthe municipality and to register with thechamber of commerce and the tax office.And it publicized the fact that a companyseal is not mandatory. The reforms reducedthe number of procedures to starta business by 5, and the time by 50 days.Slovenia was the runner-up in businessstart-up reforms. It simplified businessregistration by introducing a singleaccess point, making company informationavailable online and eliminatingcourt fees and the requirement to registerat the statistical office. The changesreduced the procedures by 4, the time by41 days and the cost by 8.4% of incomeper capita.Senegal is among the 14 economiesthat made Africa the leading regionin start-up reforms. Senegal’s one-stopshop became fully operational, merging7 start-up procedures into 1. Start-uptime fell from 58 days to 8. Liberia toostreamlined business registration, cutting3 months from the time. Businessescan now start in less than 1 month. Liberiaalso made the process more affordable,making the use of lawyers optional.Table 2.2Simplifying registration formalities—the most popular reform feature in 2007/08Simplified other registration formalities(seal, publication, notary, inspection,other requirements)Created or improved one-stop shopIntroduced or improved onlineregistration proceduresAbolished or reduced minimum capitalrequirementCut or simplified postregistration proceduresSource: Doing Business database.Bangladesh, Botswana, Bulgaria, Costa Rica,El Salvador, Georgia, Ghana, Hungary, Kenya, KyrgyzRepublic, Liberia, former Yugoslav Republic ofMacedonia, Moldova, Namibia, Saudi Arabia, Syria,YemenAlbania, Angola, Azerbaijan, Belarus, Bulgaria, CzechRepublic, Italy, Lebanon, Lesotho, former YugoslavRepublic of Macedonia, Oman, Senegal, Slovakia,Slovenia, Yemen, ZambiaBulgaria, Canada, Colombia, Dominican Republic,Hungary, Italy, former Yugoslav Republic ofMacedonia, Malaysia, Mauritius, New Zealand,Panama, Senegal, SingaporeBelarus, Egypt, El Salvador, Georgia, Greece,Hungary, Jordan, Tunisia, Uruguay, YemenColombia, Madagascar, Mauritania, Sierra Leone,South Africa, Tonga, West Bank and Gaza(c) The International Bank for Reconstruction and Development / The World Bank

STARTING A BUSINESS 11The cost is a fourth of what it used to be.Madagascar also focused on cost, abolishingthe professional tax.Sierra Leone and South Africamade the use of lawyers optional. SouthAfrica also introduced electronic meansof certifying and publishing companydocuments. In Botswana and Namibiaentrepreneurs now benefit from computerizedregistration systems. Zambiarevamped the company registry andcreated a one-stop shop. So did Lesotho,reducing start-up time by 33 days.Burkina Faso continued reforms at itsone-stop shop, CEFORE. Ghana officiallyeliminated the requirement for a companyseal. Angola, Kenya, Mauritaniaand Mauritius also reformed.Eastern Europe and Central Asiasaw reform in 10 economies. Six reducedthe running-around time for entrepreneursby creating one-stop shops. Albaniatook registration out of the courtsand merged company, social security,labor and tax registrations. Before, entrepreneurshad to wait more than amonth to start doing business; now it’sjust 8 days. Azerbaijan’s one-stop shopreduced delays by 2 weeks, Slovenia’s by6. Bulgaria, the Kyrgyz Republic and theformer Yugoslav Republic of Macedoniaundertook reforms similar to Azerbaijan’s.And while Czech entrepreneurs stillhave to obtain multiple documents, thenew “Project Czech Point” allows themto do so at one place.Belarus activated a unified registrationdatabase and cut the minimum capitalrequirement by half. Georgia eliminatedthe minimum capital requirementaltogether. It also cut the requirementfor a company seal and made the use ofnotaries optional. Moldova introduced 2new laws, on limited liability companiesand company registration, and tightenedtime limits. In contrast, Bosnia andHerzegovina increased the time to starta business by tightening notarizationrequirements.The Middle East and North Africamade big strides in reform. Syria was thesecond biggest reformer in the region,behind Yemen. A new company law andTable 2.3Who regulates business start-up the least—and who the most?Procedures (number)FewestMostCanada 1 Greece 15New Zealand 1 Montenegro 15Australia 2 Philippines 15Belgium 3 Venezuela 16Finland 3 Guinea-Bissau 17Georgia 3 Brazil 18Sweden 3 Brunei 18Bulgaria 4 Uganda 18Denmark 4 Chad 19Singapore 4 Equatorial Guinea 20Time (days)FastestSlowestNew Zealand 1 Lao PDR 103Australia 2 Brunei 116Georgia 3 Equatorial Guinea 136Belgium 4 Venezuela 141Singapore 4 São Tomé and Principe 144Canada 5 Brazil 152Hungary 5 Congo, Dem. Rep. 155Iceland 5 Haiti 195Denmark 6 Guinea-Bissau 233Mauritius 6 Suriname 694Cost (% of income per capita)LeastMostDenmark 0.0 Benin 196.0Slovenia 0.1 Angola 196.8Ireland 0.3 Djibouti 200.2New Zealand 0.4 Burundi 215.0Canada 0.5 Central African Republic 232.3Bahrain 0.6 Togo 251.3Sweden 0.6 Gambia, The 254.9United States 0.7 Guinea-Bissau 257.7Singapore 0.7 Zimbabwe 432.7United Kingdom 0.8 Congo, Dem. Rep. 435.4Paid-in minimum capitalMost% of incomeper capitaUS$Burkina Faso 459 1,973Oman 461 51,282Guinea 477 1,907Central African Republic 514 1,953Djibouti 514 5,602Togo 560 2,016Ethiopia 694 1,526Niger 702 1,966Guinea-Bissau 1,015 2,030Syria 4,354 76,627Note: Sixty-nine economies have no paid-in minimum capital requirement.Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

Turkeyprocedures0 10 20 30Time to start a business (days)12 Source: Doing Doing Business Business database. 2009FIGURE 2.4Eastern Europe & Central Asia leads reforms, Africa runner-upNumber of reforms easing business start-upby Doing Business report yearDB2005 DB2006 DB2007 DB2008 DB2009Eastern Europe& Central Asia(28 economies)Sub-SaharanAfrica42(46 economies)OECDhigh income29(24 economies)Latin America& Caribbean25(32 economies)Middle East &North Africa23(19 economies)FIGURE 2.6One-stop East Asia shops—same name, different resultsTime & Pacific and procedures to start a business16(24 economies)ParaguayOne-stop shopSouth Asia(8 economies)6BelarusBurkina Note: A reform Fasois counted as 1 reform per reforming economy per year.Source: Doing Business database.MoroccoFIGURE 2.1Turkey commercial Top 10 reformers code in took starting registration a business out of within 5 days. procedures Those in New Zealandthe Average court improvement and 0 introduced statutory 10 time can now 20 register for taxes 30while incorporating(days) their company online. Greecelimits. 2007 Using lawyers became optional.Time to start a businessSource: Doing Business database.But along 46% with 65% the reforms 54% making 28% it and 1. Hungary Yemen reduced minimum capitalFIGURE easier 2.4 to start a business came a reform requirements 2. Slovenia by about 80%. HungaryEastern making Europe it more & difficult—a Central Asia 33% leads increase reforms, also Africa 3. introduced Senegal runner-uponline filing and publicationbusiness Albaniain paid-in minimum capital. Number of reforms easing 4.and made start-up the use of notaries2008by Doing Business 5. report Liberia yearLebanon and DB2005 Oman improved DB2006 the DB2007 optional. Italy reformed its electronic6. Azerbaijan DB2008 DB2009Eastern efficiency Europe of their one-stop shops. What registration 7. Syria system, enabling businesses& used Central to Asia take 46 days in Lebanon now to complete all procedures at once. Slovakia’s9. one-stop Oman shop merged 4 procedures528. Hungary(28 economies)takes 11. Tunisia, having already reducedSub-Saharanits minimum capital requirement, abolishedeconomies) it altogether. Jordan reduced its in Switzerland were less fortunate: theyinto 10. 1 Sierra and reduced LeoneAfricacosts. Entrepreneurs42(46Procedures Time Cost Paid-inOECD minimum capital requirement minimum by more now must deposit twice as much capitalhigh than incomecapitalSource: Doing96%. Following on the previous in the bank29Business database.(nearly $20,000) before registeringa company.(24 economies)year’s reforms, Egypt further reducedLatin America& registration Caribbean costs and paid-in minimum 25 El Salvador led reform efforts in(32 capital. economies) Saudi Arabia continued to simplifycommercial East & registration formalities forming for the third year in a row.Latin America and the Caribbean, re-MiddleNorth Africa23and reduced fees by 80%. Computerizationof the registry in West Bank and minimum capital requirement, simpli-A new commercial code reduced the(19 economies)East Asia& Gaza Pacific reduced the time to register. 16 fied the legalization of accounting books(24 economies)Among OECD high-income economiesAsia there were 6 reformers. Canada Uruguay abolished the minimum capi-and eased publication requirements.South(8 economies)6and New Zealand made it possible to tal requirement. Colombia focused onstart a business with a single procedure. administrative changes, substantiallyNote: A reform is counted as 1 reform per reforming economy per year.Source: Entrepreneurs Doing Business database. in Toronto, Canada, can reducing costs and simplifying requirementsfor accounting books. Comput-incorporate their company online andFIGURE 2.1Topautomatically10 reformersreceivein startinga businessa businessnumber erization was another trend: Costa RicaAverage improvement2007Requiredadditional52Procedure iscompleted whenfinal documentis received25%Procedures25%Paid-inminimumcapitalFunds deposited in a bankcut 17 days by computerizingor with a notarytaxbeforeregistration.Note: See Data Panama notes for details. simplified licensingregistrationprocedures. The Dominican RepublicFIGURE 2.5reducedTop 5 reformstart-upfeaturescost and introducedonline starting name a business verification.Reforms In including East Asia, feature Malaysia since DB2005 cut the (%) timeby 11 days by introducing an online 20% registrationCreated or improved system. one-stop Singapore shopmerged thename search with online business registration.Tonga saved 12% on time and cost byreforming Simplified other business registration licensing. formalities Indonesiareduced the time to start a business from105 days to 76, but 11% almost doubled theAbolished or reducedminimum minimum capital capital requirement requirement.In South Asia only Bangladesh reformed.It made involving lawyers in11%Introduced FIGURE 2.2 or improved online procedurescompany Rankings registration starting a optional. businessare based on 7% 4 subindicatorsCut What or simplified are the postregistration reform As procedures% trends?of income perPreregistration,capita, no bribes includedregistration andNote: A reform may include several reform features.postregistrationIn Source: the Doing past Business 5 years database. 115 economies aroundthe world have simplified 25% 25%FIGURE 2.3business startupStarting through a business 193 reforms in Azerbaijan (figure 2.4).Time CostMany gets faster opted and for cheaper low-cost administrativeTime and cost to start 25% a business 25%reforms requiring Procedures little Paid-in or no change inregulation. 2004 2005 Others 2006 went minimum further, 2007 introducingTime2008Procedure(days)iscapitalor amending legislation. Herecompleted whenare final some document of the most prevalent reformsis122receivedFunds deposited in a bankalong with 114 some of the or lessons with a notary learned beforeregistrationon the way (figure 2.5).Note: See Data notes for details.Time cutFIGURE 2.5by 87%Top 5 reform features 52in starting a business30Reforms including feature since DB2005 (%) 16020%CostCreated or improved one-stop shop(% of income per capita)14.412%Simplified other 12.3registration formalitiesCost cutby 77%9.311%Abolished or reduced6.9minimum capital requirement11%Introduced 0 or improved online proceduresSource: Doing Business database.7%Cut or simplified postregistration proceduresFIGURE 2.3Starting a business in Azerbaijangets faster and cheaperTime and cost to start a business2004Time (days)(c) The International 1. Yemen Bank for Reconstruction and Development / The World BankNote: A reform may include several reform features.Source: Doing Business database.3.22005 2006 2007 2008

STARTING A BUSINESS 13Creating a one-stop shopThirty-nine economies have created orimproved a one-stop shop in the past 5years: 16 in Eastern Europe and CentralAsia, 7 in Africa, 6 in the OECD highincomegroup, 5 in Latin America and5 in the Middle East and North Africa.One-stop shops can be a quick way tobuild momentum for reform. Azerbaijan,El Salvador, Guatemala and Moroccocreated theirs in less than 6 months.And introducing a one-stop shop hashad promising results. In Oman businessregistrations increased from an average733 a month in 2006 to 1,306 a monthin 2007. In Azerbaijan registrations grewby 40% between January 1 and May2008. Croatia saw company formation inZagreb and Split increase by more than300% over 3 years.But creating a one-stop shop is nomagic bullet. Often entrepreneurs muststill deal with formalities elsewhere aswell (figure 2.6). In Guatemala, for example,the one-stop shop can organizecommercial, tax and social security registrationin 2–3 days. But before the registrarcan finalize the registration, a noticemust be published for 8 days duringwhich third parties can raise objections.Despite the one-stop shop, 11 proceduresand 26 days are still required. Reformersalso run the risk of creating “one-morestopshops” or “mailboxes” that merelyreceive applications and forward them toministries for approval. Delays continue.Abolishing the minimum capitalrequirementSixty-nine economies allow entrepreneursto start a company without puttingup a fixed amount of capital beforeregistration. They allow entrepreneursto determine what is appropriate for thebusiness based on its type and capitalstructure. Twenty-two economies havereduced or abolished their minimumcapital requirement in the past 5 years,including Egypt, Finland, France, Georgia,Hungary, Japan, Jordan, Uruguayand Yemen. This group has seen some ofthe biggest spikes in new company registrations.After Madagascar reduced itsFIGURE 2.6One-stop shops—same name, different resultsTime and procedures to start a businessParaguayBelarusBurkina FasoMoroccoTurkeyFIGURE 2.4One-stop shopRequiredadditionalprocedures0 10 20 30Time to start a business (days)Source: Doing Business database.minimum capital requirement by more rate managers have to get a fiscal codeEastern Europe & Central Asia leads reforms, Africa runner-upthan 80% in 2006, the rate of new registrationsjumped from 13% to 26%. by Doing Business obtaining report year a tax identification number.before using the online tax system andNumber of reforms easing business start-upAfter Tunisia reduced DB2005 its requirement,DB2006 DB2007 Countries also DB2008 have to make DB2009 sure thatEastern new registrations Europe increased by 30% between2002 and 2006. 7 52the legislation needed to allow electronic& Central Asia(28 economies)That encouraged transactions is in place.the Sub-Saharan country to abolish it altogether in But much can be gained already—2007/08.Africain time and cost and also 42 in safety—by(46 economies)computerizing files at the registry orOECD Using technologyhigh incomeoffering some online services such as29(24 Making economies) registration electronic is among name checking. And everyone has toLatin the most America effective ways to speed companyCaribbean formation. Seven of the economies that 25 one of the company registries in thestart somewhere. It was only 13 years ago&(32 economies)with the fastest business start-up offer United States stored all files in a warehouseso big that employees were usingMiddle East &North electronic Africa registration—Australia, Canada,economies) Denmark, Estonia, New Zealand, roller skates to get to the documents. Ob-23(19East Portugal Asia and Singapore. More than 20 taining documents took about a month.& Pacific16economies have introduced electronic Thankfully there was no fire.(24 economies)registration in the past 5 years. Customerseconomies) are not the only ones 6 saving on time NotesSouth Asia(8and cost. When Belgium implementedits Note: paperless A reform is counted registration as 1 reform per and reforming filing economy sys-petem, it reduced annual administrativeyear. 1. This example is from the World Bank’sSource: Doing Business database.Doing Business: Women in Africa (2008a),a collection of case studies of African entrepreneurs.costs FIGURE by 2.1€1.7 billion.Top 10 Electronic reformers registration in starting a business is possible 2. Kaplan, Piedra and Seira (2008) on Mexico,Chari (2008) on India, Monteiro andin Average more improvement than 80% of rich economies butonly 2007 about 30% of developing ones. That Assunção (2008) on Brazil and Yakovlevis not surprising, of course, given the differencesin internet access and costs. 82.and Zhuravskaya (2008) on the Russian46% 65% 54% 28% 1. YemenFederation.Slovenia3. 3. Barseghyan Senegal (2008).And electronic registration is more4. 4. Bruhn Albania (2008).complicated than it looks. In Sweden20085. 5. Ciccone Liberia and Papaioannou (2007).applications for company, tax and labor 6. Azerbaijan6. Freund and Bolaky (forthcoming), Chang,registrations can be completed online. 7. Kaltani Syriaand Loayza (forthcoming), CunatBut most forms still must be printed 8. and Hungary Melitz (2007), Helpman and Itskhokiout and signed by hand. The Philippines 9. (2007) Oman and Helpman, Melitz and RubinsteinSierra (2008). Leoneallows entrepreneurs to reserve the companyname and register online, but still 7. Klapper and others (2008).10.Procedures Time Cost Paid-inrequires payment in person. Belgium minimumal-lows electronic filing—but only through Database,8. World Bank Group EntrepreneurshipcapitalSource: Doing Business2008.database.a notary or lawyer. In Argentina corpo-FIGURRankare bPreregregistpostreProcedcompfinal dis receNote: SFIGURETop 5in staReformCreateSimpliAbolishminimIntroduCut orNote: ASource: DFIGUREStartigets fTime an2004Time (d1220Cost(% of in14.4(c) The International Bank for Reconstruction and Development / The World Bank

14 Overview FIGURE 3.1Doing Business 2009Starting Top 10 reformersa businessAverage improvementDealing with2007construction2008permitsin dealing with construction permits15% 21% 21%Employing workersRegistering propertyGetting creditProtecting investorsPaying taxesTrading across bordersEnforcing Procedures contracts Time CostClosing a businessFIGURE 3.1Top 10 reformersin dealing with construction permitsAverage 1. Kyrgyz improvement Republic20072. Burkina Faso3. Hong 15% Kong, China21% 21%4.20085.6.7.8.9.10.RwandaArmeniaBelarusJamaicaCroatiaBosnia and HerzegovinaAngolaSource: Doing Business database.Procedures Time CostFIGURE 3.5Private and risk-based inspections—greater efficiencyAverage delay for inspections (days)1.2.3.4.5.6.7.8.Kyrgyz RepublicBurkina FasoHong Kong, ChinaRwanda218254214 ArmeniaBelarusJamaicaCroatia9. Bosnia and Herzegovina10. Private Angola Risk-based Randominspections inspections inspectionsby building by buildingauthorities authoritiesSource:Source:DoingDoingBusinessBusinessdatabase.database.FIGURE 3.5Private and rigreater efficieAverage delay fo214PrivateinspectionsIn 2007 the municipality of Niamey,Niger, issued only 300 building permits.But you wouldn’t know it by lookingaroundFIGURE 3.3the city, where buildings aresprouting Reforms in fast. Sub-Saharan “Building Africa permit? picking Who upneeds that? Just hire a contractor, tell himwhat you want, and out of the ground itcomes,” Eastern Europe says a local developer.& Central This Asia approach to building has resultedin a city at odds with the original(28 economies)zoning Sub-Saharan plans: water pipes zigzag in everyAfricadirection, (46 economies) and houses extend beyondtheir assigned land parcels. The reason:OECDobtaining high incomeall building-related approvals(24 economies)and connecting to utilities can take entrepreneursEast Asia almost 9 months, at a cost of& Pacific82,694% (24 economies) of income per capita.Latin The America situation may soon change.Niger & Caribbean adopted a new building law 6 in(32 economies)March 2008, following the collapse of 2Middle East &North Africa4TABLE 3.1(19 economies)Where is dealing with constructionpermits South Asia easy—and where not?0(8 economies)Easiest Rank Most difficult Rankbuildings in the center of Niamey.In Almaty, Kazakhstan, builderssuffer the burden of overregulation. Undertakingthe construction of a simplewarehouse requires navigating a labyrinthof 38 procedures and 18 agencies—FIGURE 3.3Reforms and spending Sub-Saharan 231 days in Africa the process. picking upStriking the right balance is a challengewhen it comes to construction 20Eastern regulations. EuropeGood regulations ensure the& safety Central standards Asia that protect the public(28 economies) 13while making the permitting processSub-Saharanefficient, transparent and affordable forAfrica9(46 both economies) building authorities and the privateprofessionals who use it. If proceduresOECDhigh are overly incomecomplicated or costly, builders(24 economies)build without a permit.East Asia In an effort to achieve this balanceeconomies) between safety and cost, Bavaria& Pacific8(24Latin introduced America a differentiated permitting& approach Caribbeanin 1994. Low-risk projects 6 requirethat the designing architects show(32 economies)Middle proof of East their & qualifications and assumeNorth Africa4(19 liability economies) for the construction. Mediumriskones require that an independentSouth Asia 0(8 certified economies) appraiser approve the plans.Only high-risk, complex projects areSource: fully Doing reviewed Business database. by building authorities. 1By 2002 builders had saved an estimated€154 million in building permit fees,and building authorities had 270 feweremployees on their payroll. The approachhas spread to the rest of Germany.Economies that score well on theease of dealing with construction permitstend to have rigorous yet expeditious andtransparent permitting processes (tableSt. Note: Vincent A reform and is counted as 1 1 reform Tanzania per reforming economy 172per year.the Source: GrenadinesDoing Business database.Singapore 2 Burundi 173New Zealand 3 Zimbabwe 174Note: A reform is counted as 1 reform per reforming economy per year.Belize 4 Kazakhstan 175Marshall Islands 5 China 176St. Kitts and Nevis 6 Liberia 177Denmark 7 Tajikistan 178Maldives 8 Ukraine 179Kenya 9 Russian Federation 180Georgia 10 Eritrea 181Note: Rankings are the average of the economy rankings on theprocedures, time and cost to comply with formalities to build awarehouse. See Data notes for details.Source: Doing Business database.3.1). Speed matters. A recent study inthe United States shows that acceleratingpermit 3.4 approvals by 3 months in aFIGURETop22-month5 reformprojectfeaturescyclein dealingcould increasewithconstruction permitsReforms property including tax revenue feature by since 16.15% DB2006 and (%) constructionspending for local governmentsby 5.7%. 2 33%Yet in 80 of the 181 economiesStreamlined project clearancesstudied in Doing Business, compliancewith construction formalities takes 28% longerthan the statutory standardized time limits 30-week con-Introducedstruction project itself.20Singapore’s 13% Building and ConstructionAuthority inspection provides regime easy access toChanged13the information needed for obtaining aconstruction 13% permit. Its website lists all9Introduced the forms new that building must code be filled out, providesdownloadable copies and enables8%users to submit all paperwork electronically.Developers in Austria, Denmark,Computerized permitting processNote: A reform may include several reform features.Source:Iceland,Doing BusinessMalaysiadatabase.and the United Statesalso complete their applications online.Number of reforms making it easier to deal with construction permitsby Doing Business report yearDB2006 DB2007 DB2008 DB2009Number of reforms making it easier to deal with construction permitsby Doing Business report yearDB2006 DB2007 DB2008 DB2009FIGURE 3.2Rankings on dealing with constructionpermits are based on 3 subindicatorsDays to builda warehousein main cityAs % of income per capita,no bribes includedProcedure is completed when final documentis received; construction permits, inspectionsand utility connections includedNote: See Data notes for details.33.3% 33.3%Time Cost33.3%ProceduresSource: Doing BusineFIGURE 3.4Top 5 reformconstructionReforms includiStreamlined proIntroduced stat1Changed inspec1Introduced new8%Computerized pNote: A reform maySource: Doing BusineFIGURE 3.2Rankings onpermits areDays to builda warehousein main cityProcedure is cois received; conand utility connNote: See Data no(c) The International Bank for Reconstruction and Development / The World Bank

DEALING WITH CONSTRUCTION PERMITS 15Twenty-seven economies, includingFrance and Hong Kong (China), ensuretimely approvals for building permitsthrough silence-is-consent rules, withtime limits ranging from 2 to 4 weeks.Finland and Singapore—bothamong the 10 fastest in dealing with constructionpermits—hold the architect oranother qualified professional accountablefor supervising the construction andensuring its quality.Table 3.2Streamlining permitting procedures—a popular reform feature in 2007/08Streamlined construction permit proceduresReduced permit processing timesAdopted new building regulationsReduced feesImproved inspection regimefor construction projectsAngola, Colombia, Croatia, Hong Kong (China),Jamaica, Kyrgyz Republic, Rwanda, TongaBelarus, Bosnia and Herzegovina, Colombia,Jamaica, Liberia, SingaporeCroatia, Egypt, Mauritania, Portugal, TongaArmenia, Bosnia and Herzegovina, Burkina Faso,Hong Kong (China), LiberiaBurkina Faso, Hong Kong (China), Sierra LeoneWho reformed in 2007/08?Eighteen economies made it easier forbusinesses to comply with constructionrelatedformalities in 2007/08 (table 3.2).Africa had the most reforms, with 6 economies—Angola,Burkina Faso, Liberia,Mauritania, Rwanda and Sierra Leone—making it easier to deal with constructionpermits. Eastern Europe and CentralAsia followed, with reforms in Armenia,Belarus, Bosnia and Herzegovina, Croatiaand the Kyrgyz Republic.In East Asia and Pacific, Hong Kong(China), Singapore and Tonga streamlinedprocedures. In Latin America andthe Caribbean, Colombia and Jamaicareduced the time to process buildingpermit applications. Among OECD highincomeeconomies, Portugal was the onlyreformer. In the Middle East and NorthAfrica, Egypt was the only one. SouthAsia recorded no major reforms.The Kyrgyz Republic was the topreformer in dealing with constructionpermits in 2007/08. A new one-stop shopwas launched for issuing architecturalplanning terms and construction permits.Regulations left over from Soviettimes had required builders to obtainseparate preapprovals from each utilityauthority. Now all approvals are handledin the one-stop shop.Kyrgyz reformers didn’t stop there.A presidential decree eliminated the locationpermit, which had required thesignature of Bishkek’s mayor and took60 days to obtain. “It used to be a nightmare.You never knew what additionalpapers would be required,” says Bekbolot,owner of a medium-size constructionSource: Doing Business database.company. The mayor’s office no longerhandles occupancy permits either. “Ittook me 6 months before the reforms,and I still could not obtain the mayor’ssignature. After the reforms, it took mejust over a week to get my occupancypermit signed and sealed.”After cutting 9 procedures and 173days, the government is now focusingon reducing the cost—still high at morethan 405% of income per capita.Burkina Faso, once among the bottom10 on the ease of dealing with constructionpermits, was the second fastestreformer. A multifaceted reform programcut 12 days and reduced the cost by25%. To start, a government decree limitedthe number of on-site inspectionsby the National Laboratory for Buildingsand Public Works. That eliminated thebiweekly random inspections that usedto plague builders in Ouagadougou. “Wecan still expect inspections at certaincritical stages, but this is a far cry fromthe up to 15 or so we could receive before,”says one architect. In May 2008 thegovernment launched a one-stop shop.This has already shown results. It cutfees for soil exams in half and reducedthose for municipal approvals and firesafety studies. And it allows applicantsfor building permits to make all paymentsat a single place.Reformers were active in Africa.In Liberia the Ministry of Public Workscommitted to delivering building permitsin just 30 days, down from 90. Theministry advertised the 30-day statutorytime limit and designed a user-friendlychecklist of all the documents required.It also eliminated the need for the minister’ssignature on building permits forsimpler projects by delegating approvalto mid-level staff.Liberia’s deputy minister of publicworks cut building permit fees in half,from $1,400 to $700, to encourage morelegal building in Monrovia. “I thoughtpeople were going underground becausecosts were too high, so I decided to cutfees.” In a country where obtaining abuilding permit used to cost 10 timesincome per capita and other costs ofconstruction permitting remain high,this makes sense (table 3.3).Sierra Leone revamped its inspectionregime. Existing regulations providedfor inspections after each stage ofconstruction. But inspectors would comeat random once or even twice a week.Starting in 2007, the Ministry of Lands,Housing, Country Planning and Environmentrecruited a new cadre of professionalinspectors and began enforcingthe regulations.Rwanda streamlined project clearancesfor the second year in a row bycombining the applications for a locationclearance and building permit in a singleform. And businesses now need to submitonly one application form for water,sewerage and electricity connections.Angola incorporated the applications forelectricity and water connections intothe building permit process, cutting proceduresfrom 14 to 12.Mauritania introduced its firstbuilding code. This simplifies the requirementsfor small construction projectsand lays the groundwork for a one-(c) The International Bank for Reconstruction and Development / The World Bank

16 Doing Business 2009Table 3.3Who regulates construction permits the least—and who the most?Procedures (number)FewestDenmark 6 Azerbaijan 31New Zealand 7 Hungary 31Vanuatu 7 Brunei 32Sweden 8 Guinea 32Chad 9 Tajikistan 32Maldives 9 El Salvador 34St. Lucia 9 Czech Republic 36Grenada 10 China 37Jamaica 10 Kazakhstan 38Kenya 10 Russian Federation 54Time (days)Fasteststop shop for building permits.In Zimbabwe and Benin, obtainingbuilding permits became more difficult.In Zimbabwe’s capital, Harare, employeeshave been leaving the constructionadministration. With fewer trained professionalsto review applications, gettinga building plan approved by the citycouncil can now take a year.In Cotonou, Benin, it now takesabout 180 days to obtain a buildingpermit—3 months longer than it usedto—because of administrative backlogs.A new regulation released in June 2007MostSlowestKorea 34 Cameroon 426Finland 38 Suriname 431Singapore 38 Ukraine 471United States 40 Lesotho 601Vanuatu 51 Côte d’Ivoire 628Marshall Islands 55 Iran 670Bahrain 56 Russian Federation 704Solomon Islands 62 Cambodia 709New Zealand 65 Haiti 1,179Belize 66 Zimbabwe 1,426Cost (% of income per capita)LeastQatar 0.8 Ukraine 1,902United Arab Emirates 1.5 Tanzania 2,087St. Kitts and Nevis 5.1 Serbia 2,178Brunei 5.3 Russian Federation 2,613Trinidad and Tobago 5.5 Guinea-Bissau 2,629Palau 5.9 Niger 2,694Malaysia 7.9 Burundi 8,516St. Vincent and the Grenadines 8.4 Afghanistan 14,919Thailand 9.4 Zimbabwe 16,369Hungary 10.3 Liberia 60,989Source: Doing Business database.Mostsets statutory time limits of 120 days forbuilding permits. But these time limitshave yet to be enforced.Eastern Europe and Central Asiasaw many reforms, though only halfof them easing the regulatory burden.In Croatia a new building code eliminatedthe need for a building permitfor smaller projects and eased the requirementsfor larger ones. Now midsizecommercial construction projectsno longer need clearances from the firedepartment, water and sewerage authorities,telephone company, labor inspectorateand sanitary authority—cutting 5procedures.In Bosnia and Herzegovina administrativeimprovements made it easierto obtain cadastre excerpts, required forbuilding permits, and to register newbuildings in the cadastre and land bookregistry. That cut the time from 467 daysto 296. In Belarus new statutory timelimits for pre-permitting procedures andbuilding permits reduced the time by140 days. In Armenia companies nolonger have to pay “charitable contribution”fees to obtain the designing right.That cut the cost by 383.3% of incomeper capita.Several economies went the otherway. In Serbia the wait for building permitsincreased by an average 75 days. InUkraine a regulation introduced in 2007requires businesses to pay a “contribution”to infrastructure development thatamounts to 15% of construction costs.Now builders in Kiev can expect to pay1,902% of income per capita to deal withconstruction-related formalities.In East Asia, Hong Kong (China)pursued a broad program that eliminated8 procedures and cut the time forconstruction permits by more than 5weeks, ranking it among the top reformersglobally. In 2006 the government,working with the private sector, createda cross-sector consultation teamto identify ways to improve permittingprocedures. Working groups started withagencies and companies operating inthe construction sector found redundantprocedures, improved communicationand coordination schemes and identifiedregulatory “easy fixes” that couldimprove efficiency. “This is a very cleverand pragmatic approach—somethingvery much in touch with our culture,”comments the owner of a local constructioncompany.Singapore reduced the time fordealing with construction permits bytwo-thirds in 2007/08—more than anyother economy in the world. The agenciesresponsible for approvals cut theirinternal time limits by half. To save moretime, the Building and Construction Au-(c) The International Bank for Reconstruction and Development / The World Bank

thority’s new data management systemmakes processing smarter and more userfriendly. Today builders regularly receiveupdates on the status of their permit applicationsby e-mail and text messaging.Latin America and the Caribbeanalso saw important reforms. In Colombiathe magistrates responsible for issuingbuilding permits started using a singleform. Builders no longer need to obtainthe names and contact information ofall neighbors before submitting a permitapplication. A decree implementing adecade-old silence-is-consent rule kickedin, reducing the time to obtain a buildingFIGURE 3.1permit Top 10 reformers from 3 months to 2. In Jamaicathe in dealing government with construction began implementing permits a90-day Average improvement statutory time limit. That cut thetime 2007 to obtain a building permit from15%210 days to 130—much 21% 21%better, though2008still short of the target.Elsewhere, economies continuedto revamp their building codes. Tongaimplemented its 2005 building code inlate 2007. The new code incorporateszoning and health and fire safety approvalsinto the building permit process,cutting 3 procedures and reducing theProcedures Time Costtime by 12 days. Portugal’s new buildingregulations introduced electronicprocessing of documents. Egypt’s newbuilding code aims to reduce the time toobtain a building permit by establishinga single window and enforcing a 30-daystatutory time limit. The new code alsointroduces a single certificate for obtainingFIGURE all 3.3utility connections. Before, eachutility Reforms connection in Sub-Saharan required Africa 3 picking separate upletters from the municipality.South Asia0Sub-SaharanAfrica(46 economies)OECDhigh income(24 economies)East Asia& Pacific(24 economies)Latin America& Caribbean(32 economies)Middle East &North Africa(19 economies)DEALING WITH CONSTRUCTION PERMITS 17FIGURE 3.3Reforms in Sub-Saharan Africa picking upNumber of reforms making it easier to deal with construction permitsby Doing Business report yearDB2006 DB2007 DB2008 DB2009Eastern Europe& Central Asia20(28 economies)South 1. Asia Kyrgyz Republic0(8 economies)2. Burkina Faso3. Hong Kong, ChinaNote: 4. A reform Rwanda is counted as 1 reform per reforming economy per year.Source: Doing Business database.5. Armenia6. Belarus7. Jamaica25 administrative. Legal reforms deal8. Croatiawith 9. new Bosnia building and Herzegovina codes, regulations andbylaws 10. Angola that change the standards andorganization of construction permitting.Administrative reforms include streamliningSource: DoingprojectBusiness database.clearances and introducingtime limits and online processes.Reforming building codes can be a long,complex exercise, requiring input frommany stakeholders. A new building codeenacted in 2007 in the Czech Republicwas 18 years in the making.The focus in Eastern Europe andCentral Asia, while initially on legalNumber of reforms making it easier reforms, to deal is with shifting construction to administrativepermitsby Doing Business report yearDB2006 DB2007 changes. DB2008 Georgia is a DB2009 good example.Eastern What Europe are the reform trends? After 3 years of reform it claimed a place& Central Asiain the top 10 on the ease of dealing20with(28 economies)In the past 4 years, with 20 reforms, construction permits. But long delays remainin the restSub-SaharanEastern Africa Europe and Central Asia has13of the region—where thehad (46 economies) the most reforms making it easier process takes 260 days on average, overto OECD deal with construction permits (figure 100 days more than the average of 154 in3.3). high income9Africa follows, with 13. OECD highincomeeconomies have had 9, East Asia Reformers in Africa started withOECD high-income economies.(24 economies)East Asiaand & Pacific Pacific 8, Latin America and the 8 administrative reforms. They began inCaribbean (24 economies) 6, the Middle East and North earnest in 2006, cutting 4 proceduresAfrica Latin America 4 and South Asia 0.and reducing delays by 15 days on average.Meanwhile, delays in the rest of the& Caribbean6Of the 60 reforms easing constructionpermitting, 35 have been legal and region increased by 26 days. In Nigeria(32 economies)Middle East &North Africa4(19 economies)468913FIGURE 3.5Private and risk-based inspections—greater efficiencyAverage delay for inspections (days)218administrative 214 reforms have cut superfluousprocedures and inspections. Butbuilders in Africa still face outdated constructioncodes or new ones not yet fullyimplemented. Private Risk-based Kenya overhauled Randomall itsinspections inspections inspectionsbuilding regulations. Today it is the onlyby building by buildingAfrican economy authorities to rank among authorities the top10 Source: on Doing the Business ease database. of dealing with constructionpermits.FIGURE 3.4Top 5 reform features in dealing withconstruction permitsReforms including feature since DB2006 (%)Streamlined project clearancesIntroduced statutory time limits13%Changed inspection regime13%Introduced new building code8%Computerized permitting process254Note: A reform may include several reform features.Source: Doing Business database.FIGURE 3.2(c) The International Bank for Reconstruction and Development / The WorldRankingsBankon dealing with construction28%33%FIGURETop 5constrReformStreamIntroduChangeIntroduCompuNote: A reSource: DoFIGURRankpermDays ta warein maiProceis receand uNote: S

18 Doing Business 2009Streamlining project clearancesThe most popular reform feature globallyhas been to streamline project clearances(figure 3.4). Because building approvalsrequire the technical oversightof multiple agencies, an obvious choicehas been to set up a one-stop shop. Butthis is no easy fix. One-stop shops aredesigned to integrate services through asingle point of contact between buildingauthorities and entrepreneurs. Their successdepends on coordination betweenthese authorities and on sound overarchinglegislation.Take the experience of Bangladesh.In August 2007 Dhaka’s municipal buildingauthority introduced a one-stop shopfor building permits. Almost a year laterbuilders still had to visit each agencyresponsible for approvals, mainly becauseof inconsistent fire safety regulations. Bylaw, only buildings with more than 10floors should require fire safety clearance.The fire department insists that the cutoffshould be 6 floors, as in the old regulations.Builders can spend 6 months shuttlingbetween agencies, trying to makesense of the inconsistent rules.Setting time limitsThe second most popular reform featurehas been to introduce statutory timelimits or silence-is-consent rules. Manyeconomies write time limits into the lawin the hope of ending administrative delays.Algeria put a 2-month time limiton 1. issuing Kyrgyz building Republicpermits in 2006. Butobtaining 2. Burkina a building Faso permit still takes an3. Hong Kong, Chinaaverage 150 days because of lack of administrative5. Armenia resources. Builders wait, out4. Rwandaof fear 6. Belarus that their buildings will be demolished7. if Jamaica they proceed without a permit.8. CroatiaIn Colombia a law introduced a silence-is-consent10. Angola rule in 1997. Ten years9. Bosnia and Herzegovinalater an implementing regulation and afar-reaching public awareness campaignfinally Source: Doing made Business it database. possible for builders totake control of the process. “Now wecan begin construction after 45 workingdays without any fear. As long as everyrequirement is complied with, we knowthe law protects us,” says one Colombianarchitect.Rationalizing inspectionsThe third most popular reform featurehas been to shift from random inspectionstoward a more risk-based approach,with inspections only at critical stages ofconstruction. Building authorities havetraditionally relied on random inspectionsto ensure compliance. Today only41 economies—most in Africa, LatinAmerica and the Caribbean and theMiddle East and North Africa—still usethem. Building authorities have learnedthat random inspections strain their limitedresources and are an inefficient wayto ensure building safety (figure 3.5).Eleven of the top 15 economies onthe ease of dealing with constructionpermits have gone beyond risk-basedinspections. Instead, they allow certifiedprofessionals or independent agenciesto perform inspections during construction.Building authorities usually inspectbuildings only after they are complete.Singapore, one of the top performers,delegates control and supervision of theentire construction process to licensedengineers and architects. In Japan moreflexible licensing regulations for privateinspection companies have increasedtheir numbers and made contracting withthem faster and cheaper for builders.FIGURE 3.5Private and risk-based inspections—greater efficiencyAverage delay for inspections (days)Source: Doing Business database.Most EU economies have shiftedat least part of inspections to the privatedomain. Their experience showsthat private inspections work best whensupported by strong professional associationswith well-regulated accreditationmechanisms. A mature insuranceindustry also helps. In 2007 the CzechRepublic introduced a new profession ofauthorized inspectors. Two professionalchambers of architects and engineersand technicians provide a strong base. 3NotesFIGURE 3.4Top 5 reform features in dealing withconstruction permitsking upReforms including feature since DB2006 (%)aking it easier to deal with construction permits (c) The International Bank for Reconstruction and Development / The World Bankby Doing Business report year33%214Privateinspections218Risk-basedinspectionsby buildingauthorities254Randominspectionsby buildingauthorities1. Bayerisches Staatsministerium des Innern(2002).2. PricewaterhouseCoopers (2005).3. Geginat and Malinska (2008).

North Africa1(19 economies)FIGURE 4.3Rigid labor regulations are associated with high Note: informality A reform is counted and as 1 high reform unemploymentper reforming economy per year.Source: Doing Business database.SizeOverviewof informal sector (% of GDP)Female unemployment (%)30Starting a business12 FIGURE 4.1Dealing with construction permitsEconomies with rigid labor regulations have fewer business start-upsAverage entry rate, 2000–04 (%)81520Employingworkers10Registering property10Getting 0 credit0Least rigid Most rigid Least rigid Most rigidProtecting investorsEconomies ranked byEconomies ranked byPaying rigidity taxes of employment index, quintiles 5 rigidity of employment index, quintilesNote: Trading Relationships across are borders significant at the 1% level for size of the informal sector and at the 10% level for female unemployment, and remainsignificant when controlling for income per capita.Source: Enforcing Doing Business contracts database; WEF (2007); World Bank, World Development Indicators database.Closing a business0New Zealand Slovakia Sweden Norway Georgia Germany Bolivia PeruFIGURE 4.4Most reforms in Eastern Europe & Central AsiaAissa, a successful designer, Number of owns reforms a businessexporting traditional Senegalese have to follow a particular order of se-increasing which flexibility workers of labor to regulations dismiss; she wouldby Doing Business report yearDB2005 DB2006 DB2007 DB2008 DB2009Eastern handwoven Europefabrics to upscale internationalCentral brands Asia like Hermès and Christian her industry is suffering a slowdown. 19niority. And she would have to prove that&(28 economies)Lacroix. Demand is growing, so much This is nearly impossible, since SenegalOECD so that Aissa would have to quadruple lacks reliable statistics on industrywidehigh income16(24 production economies) to meet it. But that would trends. Besides, there are no formal criteriaon what constitutes a slowdown. Themean hiring more workers—and thatSub-SaharanAfrica seems too risky. 1 What if demand 4 should labor inspector decides.(46 economies)decline? It would be difficult to downsize Senegal’s restrictive labor laws makeLatin again. America “People can sue you and say you it difficult to adjust to demand. Besides& Caribbean3(32 have economies) fired them illegally,” Aissa explains. the burdensome dismissal requirements,East “You Asia have to give them a letter and then employers face tight restrictions on& a Pacific long process begins.” 2working hours and a ban on using fixedtermcontracts for permanent tasks. All(24 economies)That process would involve multipleSouth letters Asia to the labor inspector, all requiringa formal response. Aissa would have many of her competitors circumventthis leads to another problem for Aissa:(8 economies)2Middle to give East specific & reasons for dismissing labor regulations altogether by operatingNorth workers Africa and prove 1 that she had tried in the informal sector.(19 economies)other solutions. She could not choose Aissa is not alone. A study of 1,948Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.retail stores in large Indian cities findsTable 4.1that 27% see labor regulations as a problem.2 The study also finds that makingWhere is it easy to employ workers—FIGURE 4.1and where not?Economies with rigid labor regulations have fewerlaborbusinesslaws morestart-upsflexible could increaseEasiest Rank Most difficult RankRigidity of employmentAverage entry rate, 2000–04 (%)employment in stores by 22% index on in DB2005 average.This is substantial: the retail sector 45United States 1 Panama 17215Singapore 2 Sierra Leone 173is India’s second largest employer, providingjobs to 9.4% of workers. Similarly,Marshall Islands 3 Angola 174Maldives 4 Congo, Dem. Rep. 17510a study in Brazil finds that enforcement 30Georgia 5 Guinea-Bissau 176Brunei 6 Paraguay 177Tonga 7 Equatorial Guinea 178Source: Doing Business database; Djankov, Ganser, McLiesh, Ramalho and FIGURE Shleifer 4.5(2008).of rigid labor regulations limits firm sizeand reduces employment. 3Employment regulations are needed 15Australia 58 São Tomé and 179PrincipePalau 9 Bolivia 180 to allow efficient contracting betweenDenmark 10 Venezuela 181 employers and workers and to protect0workers from discriminatory or unfair 0Note: Rankings are the average of the economy rankings on thedifficulty New of Zealand hiring, rigidity Slovakia of hours, difficulty Sweden of firing Norway and firing Georgia treatment Germany by employers. BoliviaIn its Peru indicatorscost indices. See Data notes for details.Source: Doing Business database.on employing workers, Doing BusinessSource: Doing Business database; Djankov, Ganser, McLiesh, Ramalho and Shleifer (2008).419Rigidity of employmentindex in DB2005Top 4 reform features inemploying measures flexibility workers in the regulation ofReforms hiring, including working feature hours since and DB2005 dismissal (%) in amanner consistent with the conventions 36%Made of the working International hours more Labour flexibleOrganization(ILO). An economy can have the mostflexible labor regulations as 29% measured byEased restrictions on fixed-term contractsDoing Business while ratifying and complyingwith all conventions directly relevantto the factors measured by Doing15%Reduced dismissalBusiness 4 costsand with the ILO core laborstandards. 11% No economy can achieve aRemoved better score requirements by failing for dismissals to comply withthese conventions.Note: A Doing reform may Business include several supports reform features. the ILOSource: Doing Business database.core labor standards—the 8 conventionscovering the right to collective bargaining,the elimination of forced labor, theabolition of child labor and equitabletreatment in employment practices. Respectfor these standards helps createan environment in which business canFIGURE 4.2Rankings on employing workersare based on 4 subindicatorsFixed-term contracts,minimum wageregulationsMandatory legalrequirements for dismissalsfor economic reasons453015Nonstandard work schedules,paid vacation days25% 25%Difficultyof hiringindex25% 25%Difficulty Firingof firing costindexNote: See Data notes for details.Rigidityof hoursindexAs weeks of salary;includes notice periodand severance payments0FIGURRankare bFixedminimregulaMandarequirefor ecoNote: Se(c) The International Bank for Reconstruction and Development / The World Bank

20 Doing Business 2009FIGURE 4.3Rigid labor regulations are associated with high informality and high unemploymentSize of informal sector (% of GDP)Female unemployment (%)302010000Least rigid Most rigid Least rigid Most rigidEconomies ranked byrigidity of employment index, quintilesEconomies ranked byrigidity of employment index, quintilesNote: Relationships are significant at the 1% level for size of the informal sector and at the 10% level for female unemployment, and remainsignificant when controlling for income per capita.Source: Doing Business database; WEF (2007); World Bank, World Development Indicators database.12840develop. Doing Business does not measurecompliance with them, however, and mal sector 7 (figure 4.3). This pattern istions are associated with a larger infor-FIGURE 4.4Most these reforms 8 conventions in Eastern are Europe not reflected & Central in Asia evident in Venezuela and Bolivia. Boththe employing workers Number indicators. of reforms This increasing have flexibility laws that of labor ban regulations dismissing workersby Doing Business report yearyear’s report shows which of the 8 conventionsEurope have been ratified by each of the economies with the most rigid employ-on economic grounds and are among theDB2005 DB2006 DB2007 DB2008 DB2009Eastern& 181 Central economies Asia it includes (see table on ment regulations (table 4.1). And both 19(28 economies)ratification status of the 8 ILO conventionsregarding core labor standards, page largest informal sectors (41% of GDP inare among the 5 economies with theOECDhigh income16(24 147). economies) Ratification of the core labor standardsis not necessarily a good indicator In the end, workers in the infor-Venezuela, 43% in Bolivia). 8Sub-SaharanAfrica of compliance. A measure of 4compliancemal sector lose out the most. They are(46 economies)is being developed under the Doing BusinessAmerica project for future inclusion in the no legal protections or social benefits.generally paid lower wages and enjoyLatin& Caribbean3(32 employing economies) workers indicators.The most vulnerable groups, women andGovernments all over the world face young workers, are often at the greatestEast Asia& the Pacific challenge of finding 2 the right balance disadvantage. A study in Indonesia finds(24 economies)between worker protection and labor that if it had enjoyed the same flexibilityin labor regulations as Finland, forSouth market Asia flexibility. Denmark, for example,(8 economies)2seeks to reconcile job flexibility with employmentEast security & through “flexicurity.” have been 2.1 percentage points lowerexample, its unemployment rate mightMiddleNorth Employers Africa face no 1 regulations against and, among young people, 5.8 percentagepoints lower. 9(19 economies)laying off workers for economic reasons.Note: A reform is counted as 1 reform per reforming economy per year.Source:TheyDoingonlyBusinessprovidedatabase.advance notice. More Finding the right balance can be difficult,but the quest is worth it. Anotherthan 80% of workers belong to a voluntaryunemployment 4.1insurance scheme. 5 recent study looks at the effects of laborFIGUREEconomies Workers benefit with rigid from labor the flexible regulations regulations,entry which rate, 2000–04 give them (%) the opportunity data for 10,396 firms in 14 index countries. in DB200510have fewer regulation business in start-ups Latin America, using surveyRigidity of employmentAverage15 for a job in the formal sector and easy Firms were asked how many permanent 45transitions from one job to another. Indeed,more than 70% of Danes think it is they would dismiss if labor regulationsworkers they would hire and how many10 good to change jobs frequently. 6were made more flexible. The analysis 30But in developing countries especially,regulators often err to one exeragenet increase of 2.1% in total jobs.suggests that the result would be an avtreme—pushing5employers and workers Firms with fewer than 20 employees benefitthe most, with average gains of 4.2%.15into the informal sector. Across developingeconomies, overly rigid labor regula-Flexible labor regulations also encourageentrepreneurship. Two recentstudies suggest that flexible regulationsincrease the probability of start-ups byabout 30%. 11 The researchers offer 2 explanations.For employees, lower job securitymakes starting their own businessattractive. For entrepreneurs, the greaterflexibility in running a business makesbusiness ownership more attractive.Reforms making labor regulationsmore flexible also may increaseindustrial production and reduce urbanunemployment. In the Indian states ofAndhra Pradesh and Tamil Nadu suchreforms increased manufacturing outputby 15%. In West Bengal, by contrast,reforms making labor regulations morerigid cut output by 20%. 12 The estimatedFIGURE 4.5Top result: 4 reform 1.8 million features more in urban poor inemploying West Bengal. workers 13Reforms including feature since DB2005 (%)Who reformed in 2007/08? 36%Made working hours more flexibleFifteen economies made significantchanges to their labor regulations 29% inEased 2007/08. restrictions Six economies fixed-term increased contracts flexibility;9 reduced it. Eastern Europe and15%Central Asia introduced the most reformsincreasing flexibility, followed byReduced dismissal costsAfrica and 11% Latin America and the Caribbean(table requirements 4.2). for dismissalsRemovedBurkina Faso was the most activeNote: reformer, A may adopting include several a new reform labor features. code thatSource: Doing Business database.replaced its 2004 code. Employees andemployers can now determine the weeklyrest day without having to seek the approvalof the authorities. And employersmay be encouraged to take greaterrisks in hiring new workers thanks toincreased flexibility in using fixed-termcontracts and less rigid dismissal procedures.FIGUREFor4.2example, strict priority rules,Rankings on employing workersincludingare basedseniority,on 4 subindicatorsno longer apply indismissing workers for redundancy.Fixed-term contracts, Nonstandard work schedules,minimum Azerbaijan wage was the second paid vacation most daysactiveregulationsreformer. Working hours became25% 25%more flexible, Difficulty with restrictions Rigidity on nightwork now of applying hiring of only hourswhere laborindex indexconditions are hard or hazardous. Before25% 25%the reform, an employer could dismissDifficulty Firinga worker for of economic firing cost reasons only ifindexthe worker could not be reassigned toMandatory legalrequirements for dismissalsfor economic reasonsanother position. That requirement isNew Zealand Slovakia Sweden Norway Georgia Germany Bolivia PeruNote: See Data notes for details.(c) The International Bank for Reconstruction and Development / The World BankSource: Doing Business database; Djankov, Ganser, McLiesh, Ramalho and Shleifer (2008).As weeks of salary;includes notice periodand severance payments

Employing workers 21Table 4.2Easing restrictions on fixed-term contracts—a popular reform feature in 2007/08Eased restrictions on fixed-term contractsMade working hours more flexibleReduced dismissal costsRemoved requirements for dismissalMade dismissal more difficultIncreased restrictions on fixed-term employmentIncreased paid annual leaveSource: Doing Business database.gone. Specific notification and approvalrequirements for redundancy were alsoeased. And as in Burkina Faso, fixedtermcontracts can now be used for anytask. On the basis of the new labor code,Azerbaijan now ranks among the 10economies with the least rigid employmentregulations as measured by DoingBusiness (table 4.3).Mozambique’s new labor law alsoincreased flexibility in the use of fixedtermcontracts. It reduced the noticeperiod for dismissals, from 90 days to30. And it introduced phased reductionsin severance pay.In Eastern Europe, Slovenia andthe Czech Republic provided for greaterflexibility in using employment contracts.Slovenia now permits employersto extend fixed-term contracts from thestatutory 24 months to the duration of aproject. It also reduced the notice periodfor dismissals from 75 days to 60. TheCzech Republic introduced flexibility inovertime hours, probationary periodsand length of the workweek. In addition,its amended labor code simplified theworking hours account, allowing choicein the distribution of working hours overa 4-week period.Continuing the trend toward greaterflexibility in Eastern Europe, the formerYugoslav Republic of Macedonia is inthe final stages of passing a new laborrelations law that will increase flexibilityin working hours and reduce dismissalcosts for redundancies. The new provisionswill allow flexible use of fixed-termcontracts, increasing their maximumduration from 4 years to 5. It will alsoAzerbaijan, Burkina Faso, Mozambique, SloveniaAzerbaijan, Burkina Faso, Czech RepublicArgentina, Mozambique, SloveniaAzerbaijan, Burkina FasoCape Verde, China, Fiji, The Gambia, Italy,KazakhstanKorea, SwedenUnited Kingdomeliminate restrictions on weekend workand ease constraints on the dismissal ofredundant workers.In Latin America, Argentina reducedthe severance payment for a worker with20 years of seniority from 30 months to20. After its unemployment rate fell below10%, a 2007 decree abolished the 50%increase in severance payments that hadbeen part of the 2002 “emergency laws.”Reforms in East Asia and Pacific werea mix, both increasing flexibility and reducingit. China introduced new priorityTable 4.3Who makes employing workers easy—and who does not?Rigidity of employment index (0–100)Leastrules for group redundancy dismissals,making it more difficult for employers toadjust during economic downturns. InFiji new legislation strengthened protectionsagainst discrimination in employmentand shifted dispute resolution fromlitigation to mediation. But it also introducednew notification requirements fordismissals and reduced the flexibility ofworking hours by imposing a limit of 48hours in a 6-day workweek.Among OECD high-income economies,Korea introduced important provisionson equality of opportunity andnondiscrimination in hiring and promotion.It also limited fixed-term contractsto 24 months.Several economies made employmentregulations more rigid. Kazakhstannow requires employers to first transferan employee to another job when consideringredundancy. Italy increased the noticeperiod for dismissal of workers from2 weeks to 75 days, The Gambia from 2months to 6 and Cape Verde from 30 daysto 45. Sweden reduced the maximumMostHong Kong, China 0 São Tomé and Principe 63United States 0 Angola 66Singapore 0 Equatorial Guinea 66Maldives 0 Guinea-Bissau 66Marshall Islands 0 Panama 66Australia 3 Congo, Rep. 69Azerbaijan 3 Niger 70Uganda 3 Congo, Dem. Rep. 74Canada 4 Bolivia 79Jamaica 4 Venezuela 79Firing cost (weeks of salary)LeastMostDenmark 0 Equatorial Guinea 133New Zealand 0 Mozambique 134United States 0 Ecuador 135Puerto Rico 0 Sri Lanka 169Afghanistan 0 Ghana 178Iraq 0 Zambia 178Marshall Islands 0 Sierra Leone 189Micronesia 0 Zimbabwe 446Palau 0 Bolivia not possibleTonga 0 Venezuela not possibleNote: The rigidity of employment index is the average of the difficulty of hiring index, rigidity of hours index and difficulty of firing index.Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

22 Doing Business 2009duration of fixed-term contracts from 3 high-income economies follow with 16,years to 2. The United Kingdom increased with Australia, Germany and Switzerlandall reforming more than once.the paid annual leave to which workersare entitled from 20 working days to 24. In Africa, Uganda (in 2006), Mozambique(in 2007) and Burkina Faso (inWhat are the reform trends? 2008) enacted new labor laws, introducingworker protections while increasingthe flexibility of labor regulations.Across the world, Doing Business has recordedonly 77 reforms affecting the employingworkers indicators since 2004. Of working hours. Yet among regions, Af-Namibia (in 2004) eased restrictions onthe 77 reforms, 47 made labor regulations rica continues to have the most rigidmore flexible; 30 made them more rigid. labor regulations. Dismissal costs forLabor reforms are rare. This is unsurprising.Governmentsa worker with 20 years of employmentFIGURE 4.3Rigid labor regulationsworkareonassociatedsuch reformswith highamountinformalityto moreandthanhigh3unemploymentyears of salarySize for years, of informal and sector there (% are of GDP) many stakeholdersinvolved. Labor reforms normally in Zimbabwe. Africa is also home toin Sierra Leone and more than 8 yearsFemale unemployment (%)30imply a tripartite consultation—between12the countries with the largest numbersgovernment, employers’ representatives of mandatory paid annual leave days:20and workers’ representatives. Finding the Eritrea 8 with 34, Ethiopia with 33 andright balance of interests is a challenging Cameroon with 32.10 and important exercise.Three reformers stand out in EasternEurope and Central Asia. Slovakia4Moving toward more flexible (in 2004) and Azerbaijan (in 2008) introducedLeast rigid flexibility in the use of Most fixed-rigidregulations00Least rigid Most rigidGovernments Economies in Eastern ranked Europe by and term contracts, Economies in work ranked schedules by andrigidity of employment index, quintilesrigidity of employment index, quintilesCentral Asia have been the most active in redundancy requirements. GeorgiaNote: Relationships are significant at the 1% level for size of the informal sector and at the 10% level for female unemployment, and remainsignificantreformerswhen controllingin theforpastincome5peryears,capita.introducing19 Doing reforms Business database; increasing WEF (2007); World the Bank, flexibility World Development and Indicators 2006 database. and also introduced changes inmade big changes in those areas in 2005Source:of labor regulations (figure 4.4). OECD notice periods and severance payments.Reform was widespread: 8 of the 10countries in the region that have joinedthe European Union have reformed theirlabor laws. Several, including Lithuaniaand Romania, did so to harmonize theirlaws with EU legislation.In South Asia 2 economies have reformed.Bhutan went far, implementingits first labor code in 2007. The new laborcode established protective measures forworkers without imposing heavy burdenson employers. The protections createdincentives for workers to join the privatesector—and employers now have a largerpool of candidates to choose from. Thebetter working conditions have led tohigher productivity. 14In Latin America, Colombia andArgentina made labor regulations moreflexible. Both made redundancy dismissalseasier—Colombia in 2004 and Argentinain 2005. Argentina also reduceddismissal costs in 2007. In East Asiaand Pacific, Vietnam eased restrictionson fixed-term contracts, and Taiwan(China) on working hours. Except forIsrael, no economies in the Middle Eastand North Africa made labor regulationsmore flexible.FIGURE 4.4Most reforms in Eastern Europe & Central AsiaEastern Europe& Central Asia(28 economies)OECDhigh income(24 economies)Sub-SaharanAfrica(46 economies)Latin America& Caribbean(32 economies)East Asia& Pacific(24 economies)Number of reforms increasing flexibility of labor regulationsby Doing Business report yearDB2005 DB2006 DB2007 DB2008 DB20092341619FIGURE 4.5Top 4 reform features inemploying workersReforms including feature since DB2005 (%)Made working hours more flexible29%Eased restrictions on fixed-term contracts15%Reduced dismissal costs11%Removed requirements for dismissalsNote: A reform may include several reform features.Source: Doing Business database.36%South Asia(8 economies)2Middle East &North Africa(19 economies)1Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.FIGURE 4.2FIGURE 4.1Economies with rigid labor regulations have fewer business start-upsRankings on employing workers(c) The International Bank for Reconstruction Rigidity and of employment Development / The are World based Bank on 4 subindicators

Employing workers 23Increasing flexibility in settinghours and using contractsOver the past 5 years 36 reforms havebeen aimed at increasing flexibility inworking hours and the use of fixed-termcontracts (figure 4.5). Five reforms havemade scheduling working hours moredifficult. Nine have restricted the use offixed-term contracts.Most of the reforms aimed at increasingflexibility in working hours tookplace in Eastern Europe and CentralAsia. These reforms, concentrated in2004 and 2005, allowed more flexible arrangementsfor overtime and permittedbusinesses to shift working hours fromthe low to the high season. In Latvia andPoland working hours must balance outwithin 4 months; in Hungary, within ayear. Overtime hours have become morepredictable for employees, and employerscan more easily adjust to cyclical demand.Elsewhere in the world, Pakistaneased limits on overtime, while Ugandaallowed employers and employees tofreely set the legally required rest day.Bhutan eased restrictions on night work.Sixteen economies allowed greaterflexibility in the use of fixed-term contracts.In Azerbaijan and Burkina Faso,for example, fixed-term contracts cannow be used for permanent tasks. Latviaand Togo extended their maximumduration. That makes it easier for bothemployers and employees to adapt workarrangements to their needs.Reducing dismissal costsTen economies granted businesses moreflexibility in dismissals during economicdownturns. But 15 economies (includingBolivia, Fiji, Kazakhstan and Zimbabwe)made such dismissals costlier or moredifficult. In Bolivia and Venezuela anemployer cannot let workers go for economicreasons without their consent.Under these circumstances employersmight think twice before hiring a newworker.High dismissal costs can deter employersfrom creating jobs in the formalsector. That argues for reducing dismissalburdens. But excessive flexibility leads toanother problem: concern among existingemployees about losing their jobsand being left without a safety net.One solution is to offer unemploymentinsurance rather than severancepay. In Austria employers contribute toa fund from which they may withdrawif a worker is made redundant after 3years of employment. In St. Kitts andNevis severance payments are madefrom a government-administered fundthat employers pay into over time. InItaly employers deposit a portion of eachemployee’s salary into a designated fundover the course of the employment relationship.In Korea employers adoptingthe new defined contribution plan willcontribute 1 month’s salary annually toeach employee’s private pension account.Chile adopted a successful unemploymentinsurance system in 2002. Thereform introduced individual savings accountsto which both employee and employercontribute. It also reduced severancepay from 30 working days to 24 foreach year worked. Unemployed Chileanworkers receive benefits from their individualsavings accounts for 5 months.Notes1. This example is from the World Bank’sDoing Business: Women in Africa(2008a), a collection of case studies ofAfrican entrepreneurs.2. Amin (forthcoming).3. Almeida and Carneiro (forthcoming).4. ILO Convention 14 on weekly rest (industry),ILO Convention 171 on nightwork, ILO Convention 132 on holidayswith pay and ILO Convention 158 ontermination of employment.5. Data on the share of the labor forcecovered by unemployment insurance,from Clasen and Viebrock (2008), are for2002.6. Eurobarometer (2006).7. Djankov and Ramalho (2008). A 10-point increase in the rigidity of employmentindex is associated with anincrease of 0.9% of GDP in the size of theinformal sector.8. Djankov and Ramalho (2008).9. Feldmann (2008).10. Kaplan (forthcoming). The study usesdata from the World Bank EnterpriseSurveys, available athttp://www.enterprisesurveys.org.11. Van Stel, Storey and Thurik (2007) andArdagna and Lusardi (2008).12. Aghion and others (forthcoming).13. Besley and Burgess (2004).14. Wangda (forthcoming).(c) The International Bank for Reconstruction and Development / The World Bank

24 Doing Business 2009OverviewStarting a businessFIGURE Dealing 5.3with construction permitsEasing Employing property workers registration in RwandaReduction in time and cost, 2007–08RegisteringTime per procedure (days)240propertyTotal timecut fromGetting credit180371 days to 315Protecting investorsPaying taxes120Trading across borders35-day60Enforcing contracts procedureNO eliminatedClosing CHANGE a businessNOCHANGETime cutfrom 60 daysto 10NOCHANGE1 2 3 4 5ProceduresFIGURE 5.1Top 10 reformers in registering propertyAverage improvement2007200821%46%26%Procedures Time Cost1. Belarus2. Rwanda3. Azerbaijan4. Kazakhstan5. Hungary6. Zambia7. Mauritius8. Burkina Faso9. Madagascar10. EgyptSource: Doing Business database.(8 economies)FIGURE 5.4East Asia& Africa Pacifichas reformed 2 the most5Cost(% Ida, of property a Gambian value) entrepreneur, wants to used to be another. But in 2005 it eliminatedthe requirement for approval by8sell her plot of land to expand her manufacturingbusiness. 6.1% to 0.3% She has found Total cost an the Ministry of Urban Planning. ThatCost cut fromFIGURE 5.1cut from6interested buyer. But she has also9.4%learnedto 0.6%slashed Top 10 reformers the time in registering required to property registerFIGURE 5.3that Easing transferring Procedure property registration property 2007 in in The Rwanda Gambia Average property improvement from 397 days to 62—and therequiresandthecost4Reduction consent of the Department number of property transfers in Abidjaneliminated in time and cost, 2007–082007of Lands and Surveys—and getting NOthatalmost quadrupled, 21% from 500 in 26% 2005 toCHANGE2takes Time per about procedure a year.(days)There is another option:hire a lawyer Total time 2008 with connections at Formal property titles help promote1,968 in 2007. 1 46%2008240the departmentcutandfromobtain the consent the transfer of land, encourage investmentand give entrepreneurs access to1 2 3 4 5180371 days to 315in a day. But Ida Procedures cannot afford the cost,Source: about Doing 3% Business of the database. value of her property. formal credit markets. 2 But a large share120Ida decides to wait for the Time department’scutof property in developing countries isconsent, putting 35-dayfrom 60 dayson hold her plans to not formally registered. Informal titles60procedureto 10expand NO her eliminated business.cannot be used as security in obtainingCHANGENOBesides The Gambia,CHANGE11 other economies1still require 2 a 3ministerial 4 consent 5 ties for businesses. Many governmentsloans, Procedures which limits Time financing opportuni-CostProceduresto transfer property: Lesotho, Madagascar,CostMalawi, Nigeria, Papua New Guinea, tensive property titling programs. Buthave recognized this and started ex-(% of property value)Senegal, Solomon Islands, Tanzania, bringing assets into the formal sectorFIGURE 8 5.4Tonga, Uganda Cost and cut Zambia. from Côte d’Ivoire is only part of the story. The more difficultand costly it is to formally transferAfrica has reformed 6.1% to the 0.3% most Total costTable 5.1Number of cut reforms from6easing property registration9.4% to 0.6%Where is registering property easy—andby Doing Business property, report year the greater the chances thatwhere Procedure not? DB20062007DB2007 formalized DB2008 titles will quickly DB2009and costbecome informalagain. Eliminating unnecessarySub-Saharan4Easiest eliminated Rank Most difficult RankAfrica31(46Saudieconomies)Arabia 1 Liberia 172 obstacles to registering and transferring2Eastern GeorgiaEurope2 Angola 173 property is therefore important for economicdevelopment.& New Central Zealand Asia 3 2008 Afghanistan 17423(28Lithuaniaeconomies)1 2 4 3Bangladesh 4 5 175 Economies that score well on theLatin Armenia America 5 Procedures Nigeria 176& ease of registering property tend to haveThailandCaribbean13Source: Doing Business database. 6 Brunei 177(32 economies)simple procedures, low transfer taxes,Slovakia 7 Maldives 178Middle NorwayEast & 8 Marshall Islands 179 fixed registration fees, online registriesNorth Africa9Azerbaijan 9 Micronesia 180 and time limits for administrative procedures.They also make the use of notaries(19 economies)Sweden 10 Timor-Leste 181OECDhigh Note: Rankings incomeare the average of the economy rankings 8 on theand lawyers optional. Saudi Arabia computerizedprocedures in 2007, making it(24 procedures, economies) time and cost to register property. See Data notesfor details.South Source: Doing AsiaBusiness database.possible to register property in 2 proceduresand 2 days. In Georgia and Lithuania,which recently simplified procedures,it takes 3 days to register property.In New Zealand, number 3 on the ease ofFIGURE 5.2registering Rankings on property, registering online property registrationis are straightforward. based on 3 subindicators In Slovakia, whichreplaced Days 1. Belarusto transfer a percentage-based property As % of property fee with value, abetween 2. Rwanda 2 companiesno bribes includedfixed in main fee, city the cost to register property is3. Azerbaijanonly 4. 0.05% Kazakhstan of the property value.33.3% 33.3%5. HungaryTime CostWho reformed in 2007/08?6. Zambia7. MauritiusTwenty-four 8. Burkina Faso economies 33.3% made it easier toregister 9. Madagascar Proceduresproperty in 2007/08 (table 5.2).10. EgyptThe most popular reform feature: loweringSteps the for encumbrance cost of registration checking, deed by and reducingtitle transfertheuntil property cantransferbe sold againtax,or usedregistrationas collateralSource: Doing Business database.fees Note: See or Data stamp notes for duty. details. Five economies—Burkina Faso, the Dominican Republic,Jamaica, Serbia and Thailand—reducedFIGURE 5.5the transfer tax. The Republic of CongoTop 5 reform featuresin registering propertyReforms FIGURE including 5.2 feature since DB2006 (%)Rankings on registering propertyare based on 3 subindicators 47%Reduced taxes or feesDays to transfer propertybetween 2 companiesin main city19%Computerized procedures33.3% 33.3%Time Cost19%Increased administrative efficiency33.3%Procedures16%Combined and reduced proceduresAs % of property value,no bribes includedSteps for encumbrance checking, deed and title transferuntil 12% property can be sold again or used as collateralIntroduced fast-track procedures or time limitsNote: See Data notes for details.Note: A reform may include several reform features.Source: Doing Business database.FIGURE 5.5(c) The International Bank for Reconstruction and Development / Top The World 5 reform Bank features

REGISTERING PROPERTY 25Table 5.2Reducing the cost to register property—the most popular reform feature in 2007/08Reduced taxes or feesCombined and reduced proceduresComputerized proceduresSped procedures in the registryIntroduced time limitsIntroduced fast-track proceduresAllowed private valuers to complete valuationsSource: Doing Business database.and Rwanda reduced registration fees.Madagascar eliminated the stamp duty.Belarus was the top reformer inproperty registration. The governmenthad initiated the creation of a one-stopshop in March 2004. In early 2006 thelegal changes necessary for the one-stopshop to become operational took effect.To complete its implementationand to address remaining bottlenecksat the Land Registry, the governmentlaunched a broad administrative simplificationprogram in November 2007. Theprogram introduced strict time limits,computerized the registry and digitizedproperty records. The government’s ambitiousreform agenda paid off: the timeto register property in Minsk fell from231 days to 21. Belarus now ranks amongthe top 25 economies on the ease of registeringproperty.“Comparing the registry a few yearsBurkina Faso, Republic of Congo, DominicanRepublic, Jamaica, Madagascar, Rwanda, Serbia,ThailandAzerbaijan, Belarus, Georgia, Kazakhstan, Latvia,Lithuania, MauritiusBelarus, Bosnia and Herzegovina, Georgia,Madagascar, Saudi Arabia, ZambiaBangladesh, Egypt, former Yugoslav Republic ofMacedonia, Madagascar, Sierra LeoneBelarus, Egypt, SenegalAzerbaijan, HungaryRepublic of Congoback and today is like night and day.From waiting in long lines taking upto a few months, we went to a modern,efficient one-stop shop. They even havea webcam in the one-stop shop to checkthe waiting line,” says Alexander, a seasonedentrepreneur in Minsk.Rwanda was the runner-up reformer.A presidential decree in January 2008 replaceda 6% registration fee with a flatrate of 20,000 Rwanda francs (about $34),regardless of the property value. Before,the 6% registration fee applied to everyproperty transaction, and the RwandaRevenue Authority had to value the property,which took 35 days on average. Registeringproperty in Kigali now requiresonly 4 procedures and less than 1% of theproperty value (figure 5.3). Yet with theprocess still taking almost a year on average,there is room for improvement.Eastern Europe and Central Asiahad the most reforms in property registration.Azerbaijan introduced a one-stopshop and gave the State Registry of RealEstate sole responsibility for all propertyregistrations in the country. That requiredamending the civil code in April2006. Before, entrepreneurs had to registerland and buildings separately. Thismeant going through 7 lengthy procedures,including getting clearances from2 agencies and an updated inventory filefrom the Bureau of Technical Inventorylisting the property’s boundaries andtechnical features. Those requirementsare gone. With the new option of expediting2 of the 4 remaining procedures,it is now possible to register property inonly 11 days.Kazakhstan followed a similar path.By launching public service centers—local one-stop shops—Kazakhstan simplifiedproperty registration in its majorcities. Georgia, a repeat reformer for 4years in a row, launched an electronicdatabase. Registrars can now obtain abusiness registry extract, nonencumbrancecertificate and cadastral sketchonline. Before, these documents couldbe obtained only by visiting several differentagencies.Bosnia and Herzegovina was anothernotable reformer. The time neededto register a title in Sarajevo fell by 203days, from 331 to 128. Once the registryis fully computerized (80% of its fileswere as of mid-2008), the time is expectedto drop even more. The formerYugoslav Republic of Macedonia spedTable 5.3Who regulates property registration the least—and who the most?Procedures (number) Time (days) Cost (% of property value)Fewest Most Fastest Slowest Least MostNorway 1 Greece 11 New Zealand 2 Bangladesh 245 Saudi Arabia 0.00 Congo, Rep. 16.48Sweden 1 Swaziland 11 Saudi Arabia 2 Afghanistan 250 Bhutan 0.01 Cameroon 17.79Bahrain 2 Eritrea 12 Sweden 2 Togo 295 Georgia 0.03 Central African Republic 18.55Georgia 2 Uzbekistan 12 Thailand 2 Solomon Islands 297 Belarus 0.04 Mali 20.31Lithuania 2 Ethiopia 13 Georgia 3 Rwanda 315 Slovakia 0.05 Senegal 20.61Netherlands 2 Liberia 13 Lithuania 3 Angola 334 Kiribati 0.06 Comoros 20.82New Zealand 2 Uganda 13 Norway 3 Gambia, The 371 Kazakhstan 0.08 Nigeria 21.93Oman 2 Algeria 14 Armenia 4 Slovenia 391 New Zealand 0.09 Chad 22.72Saudi Arabia 2 Brazil 14 Iceland 4 Haiti 405 Russian Federation 0.20 Zimbabwe 25.01Thailand 2 Nigeria 14 Australia 5 Kiribati 513 Qatar 0.25 Syria 28.05Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

26 Doing Business 2009East Asia& Pacific(24 economies)2FIGURE 5.1Top 10 reformers in registering propertyFIGURE 5.3Madagascar was another reformer inEasing property registration in Rwanda Average improvementthe region. A new financial law abolishedReduction in time and cost, 2007–082007the mandatory stamp duty and 2 taxes,NO21%26%CHANGETime per procedure (days)reducing the cost of 46% transferring propertyfrom 11.6% of the property value to2008240Total timecut from7.5%. Madagascar did not stop there. It180371 days to 315reorganized its registry by expanding thenumber of offices, purchasing new computersand hiring more staff. Transfer-120Time cut35-dayfrom 60 days ring property in Antananarivo now takes60procedureto 108 weeks less than it did a year before.NO eliminatedCHANGENOBurkina Faso abolished the requirementCHANGEProcedures Time Costto obtain the municipality’s approval for1 2 3 4 5Proceduresproperty transactions, cutting the timeCostby 46 days, from 182 to 136.(% of property value)In the Middle East and North Africa,8Egypt and Saudi Arabia reformed. EgyptCost cut from6.1% to 0.3%Total cost simplified administrative procedures andcut from69.4% to 0.6% introduced time limits. That cut the timeProcedure 2007to register property by 4 months, from42and costeliminated193 days to 72. Saudi Arabia introduceda comprehensive electronic system toregister title deeds at the First Notary2008Public Department in Riyadh, making it1 2possible to transfer property in 2 proceduresand 2 days.3 4 5ProceduresSource: Doing Business database.Here is how the process works: Anotary public at the First Notary Publicthe process at the cadastre by addingstaff. Lithuania cut a procedure by introducingspecial software that allowsnotaries to obtain the real estate transactioncertificate from their office. Before,the buyer had to pick up this certificateDepartment, in the presence of thelegal representatives of the buyer andseller, first verifies that all documents arecomplete. The notary public then transfersthem electronically to the RecordsDepartment, which prepares a new titleat the registry.deed showing the buyer as the owner ofFIGURE 5.4Africa Africa has reformed saw the second the most largest numberof reforms. The Republic Number of of Congo reforms easing diately property added registration to the electronic records ofthe property. The new title deed is imme-adopted a new law on May 11, 2007, thatby Doing Businessall titlereportdeedsyearin Riyadh. After a few hourscut the registration DB2006 fee by DB2007 10 percentage the representatives DB2008 of the DB2009 buyer and sellerSub-SaharanAfrica points. Transferring property used to take appear a second time before the notary 31(46 economies)137 days and cost 27% of the propertyEastern value. Europe Now it takes 116 days and costspublic, who prints a copy of the new titledeed and asks the representatives and& about Central 17% Asia23of the property value. Senegal 2 witnesses to sign the sale agreement,(28 economies)introduced time limits at the Land RegistryCaribbean to speed the delivery of certificates 13agreement is scanned and saved in thewhich is a standard form. The signed saleLatin America&(32andeconomies)the registration of property transactions.electronic records, while the original isEast That & reduced the time to register kept in the notary public’s files.MiddleNorth Africa9(19propertyeconomies)from 145 days to 124.In South Asia, Bangladesh halvedZambia computerized its land registryincome and set up a customer 8serviceMunicipal Deed Registry Office, fromthe time to apply for registration at theOECDhigh(24 economies)center to eliminate the backlog of registration360 days to 180. The total time to registerAsia requests. The time to register property dropped from 425 days to 245.South(8 economies)5property fell from 70 days to 39.In Latin America and the Caribbean,Jamaica introduced a new law inMay 2008 reducing the transfer tax from7.5% 1. Belarus of the property value to 6%, andthe 2. stamp Rwandaduty from 5.5% to 4.5%. Thecost 3. Azerbaijan to transfer property dropped from4. Kazakhstan13.5% of the property value to 11%. The5. HungaryDominican Republic reduced the transfer7. tax Mauritius from 4.3% to 3%. Transferring6. Zambiaproperty 8. Burkina now Faso costs 3.8% of the propertyvalue, 9. Madagascar down from 5.1%.10. In Egypt East Asia and Pacific, Thailandreduced the transfer fee from 2% to0.01% and the specific business tax fromSource: 3.3% Doing to Business 0.11%, database. cutting the overall costto transfer property from 6.3% of theproperty value to 1.13%. Thailand nowranks among the top 10 economies onthe ease of registering property. The costreductions FIGURE 5.2 are provisional and valid forone Rankings year from on registering March 2008, property to allow theThai are based government on 3 subindicatorsassess the results ofthe Days reform to transfer in property April 2009.between 2 companiesno bribes includedin main cityWhat are the reform trends?33.3% 33.3%Time CostAlmost 60% of all property registrationreforms recorded by Doing Business in33.3%the past 4 years took place in 2 regions:ProceduresAfrica and Eastern Europe and CentralAsia (figure 5.4). In 2005 Eastern Europeand Steps Central for encumbrance Asia checking, had the deed most and title reforms. transferuntil property can be sold again or used as collateralIn 2006 and 2007 Africa took the lead.In Note: 2007/08 See Data notes Eastern for details. Europe and CentralAsia led with 9 reforms, closely followedby Africa with 8.FIGURE 5.5Top 5 reform featuresLowering registering costs propertyReforms Across including regions, feature the since most DB2006 popular (%) reformfeature has been reducing property 47%Reduced transfer taxes or and feesfees—registration fees,notary fees and stamp duties (figure 5.5).In 2005 and 19% 2006 such reductions wereComputerized made by 7 procedures of 10 reforming economies.Big cuts were made in Africa. In 2004 the19%region had the highest average cost forIncreased administrative efficiencyproperty transfer, at around 13% of theproperty value. Today the average cost16%Combined is 10.5% and of reduced the property procedures value—muchlower, though still higher than the 6%in Latin 12% America, the region with theIntroduced second highest fast-track cost. procedures or time limitsMany economies have reduced theNote: cost A reform of property may include several registration reform features. by estab-Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World BankAs % of property value,

Steps for encumbrance checking, deed and title transferuntil property can be sold again or used as collateralNote: See Data notes for details.REGISTERING PROPERTY 27FIGURE 5.4Africa has reformed the mostNumber of reforms easing property registrationby Doing Business report yearDB2006 DB2007 DB2008 DB2009Sub-SaharanAfrica(46 economies)Eastern Europe& Central Asia(28 economies)Latin America& Caribbean(32 economies)Middle East &North Africa(19 economies)OECDhigh income(24 economies)South Asia(8 economies)East Asia& Pacific(24 economies)2Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.589132331FIGURE 5.5Top 5 reform featuresin registering propertyReforms including feature since DB2006 (%)Reduced taxes or fees19%Computerized procedures19%Increased administrative efficiency16%Combined and reduced procedures12%Introduced fast-track procedures or time limitsNote: A reform may include several reform features.Source: Doing Business database.47%lishing a low fixed registration fee ratherthan charging entrepreneurs a percentageof their property value. In 2005Slovakia abolished its 3% real estatetransfer tax and set a low fixed fee forexpedited registration at 8,000 koruny($286). In 2007 Egypt and Poland adoptedsimilar reforms. And in 2007/08Rwanda followed suit. This reform tendsto reduce fraud in reporting the marketvalue of property and increase tax revenue.Six months after Egypt replacedits 3% registration fee with a fixed fee of2,000 Egyptian pounds ($323), revenuesrose by 39%. 3Computerizing the registryOne of the most popular reform featureshas been computerizing the registry andintroducing online procedures that aidinteraction between the notary and theregistry. Computerization can be costly,so it is not surprising that more thanhalf of such reforms have been in EasternEurope and Central Asia and OECDhigh-income economies.Computerizing registries has provedto be highly effective. The economies thathave done so since 2005 have seen thetime to register property drop by 45%on average. In El Salvador, which computerizedits registry in 2006, the time toregister property fell from 52 days to 33.Portugal computerized the Lisbon realestate registries in 2007, reducing thetime from 81 days to 42. Computerizingrecords not only facilitates registrationbut also improves the preservation ofthe records and, as a result, the securityof titles.Digitizing the property registry’s recordsand facilitating electronic accesscan improve things, but this alone is oftennot enough. In 2005 Honduras launcheda reform aimed at allowing every entrepreneuronline access to the registry’sinformation. But online access did notresolve the many inconsistencies in informationbetween the registry and thecadastre. To do this, the 2 agencies mustbe coordinated, and the cadastre updatedregularly. 4 Comayagua, 80 kilometersnorthwest of Tegucigalpa, is the only cityin Honduras that has completely digitizedits property registry’s records, thanks toan updated digital cadastre.HOW TO REFORMSome reforms to ease property registration,such as eliminating unnecessaryprocedures or reducing the numberof approvals required, can be donequickly—once everyone is convincedof the benefits. Such reforms usuallyrequire no drastic changes in the legislationand can be executed administratively.In previous years such economiesas Côte d’Ivoire, Georgia and Ghana havereduced the time required to registerproperty by eliminating long and unnecessaryprocedures.Inspiration can sometimes be foundat home. Doing Business subnationalstudies have shown that local authorities,federal and municipal, learn fromone another to improve registration processes,even if they share the same legaland regulatory framework. This processwas at work in Mexico, where Aguascalientesfollowed Yucatán’s experiencein simplifying the registration processand reducing fees at the land registry. In2007/08 San Luis Potosí and Chiapas followedAguascalientes’s example of introducinga bar code to allow computerizedtracking of property records. 5(c) The International Bank for Reconstruction and Development / The World Bank

28 Doing Business 2009Other reforms, such as overhauls ofthe entire property registration system,can take years. Consider the top reformerin property registration for 2007/08. Belaruspassed the law establishing its onestopshop in March 2004. Making theone-stop shop operational took another3.5 years and several presidential decrees.The previous year’s top reformer,Ghana, has been working for more than4 years to complete the transition from adeeds registration to a title registrationsystem. Entrepreneurs in Accra can nowregister a title in 34 days. In other partsof the country the same process stilltakes months. 6Shifting from a deeds system to atitle system is also taking time in HongKong (China), which launched this reformin July 2004. The reform is stillunder way as the government continuesto work on such legal issues as how it willindemnify users for errors and how thesystem will deal with third-party claims.Notes1. Data on property transfers in Abidjanare from Côte d’Ivoire, Direction du Domaine,de la Conservation Foncière, del’Enregistrement et du Timbre.2. Miceli and Kieyah (2003).3. Haidar (2008).4. Coma-Cunill and Delion (2008).5. Cruz-Osorio and Enrigue (2008).6. Hacibeyoglu (2008).(c) The International Bank for Reconstruction and Development / The World Bank

FIGURE 6.1GETTING CREDITCambodia leads in legal rights reform, Albania and the United Arab Emirates top reform29Overviewin credit informationStrength Starting of a business legal rights index (0–10) DepthFIGUREof6.1credit information index (0–6)Cambodia leads in legal rights reform, Albania and the United Arab Emirates top reform10 Dealing with construction permitsin credit informationEmploying 2008 workers8Registering propertyStrength of legal rights index (0–10)10Depth of credit information index (0–6)6Getting credit+3+9+3Protecting investors4Paying taxes+2Trading 2 across bordersEnforcing contractsClosing 0 2007 a businessCambodia Guatemala Vanuatu ChinaSource: Doing Business database.FIGURE 6.46846242008+4+9+3+3Collateral reform—East Asia & Pacific rapidly moving forwardTop 5 reform features in legal rightsSibongile was meant to fly. Number “I grew of reforms up strengthening Russian Federation. legal rights “I remember waitingreport for days year at the airport for the plane tion available through public and privateReforms ity and including accessibility feature since of credit DB2006 informa-(%)FIGURE 6.4near an Air Force base and always had by Doing a BusinessCollateral reform—East Asia & Pacific rapidly moving forwardlove for planes,” she says, DB2006 remembering a to arrive, DB2007 panicking DB2008 that after DB200953%paying so credit registries (figure 6.2).Eastern EuropeNumber of reforms strengthening Allowed out-of-court legal rights enforcement of collateralchildhood spent waving at jets at South much money and risking people’s savings by Doing Business report Both year& Central Asiacreditor protection through12(28 Africa’s economies) Hoedspruit base.it may not arrive.” But all DB2006 went well in the the legal DB2007 system and DB2008 credit registries DB200947% areEastern EuropeEast Asia After a successful 7-year career in & end, Central and Asia Sibongile’s business took off. 1 Expanded associated range with of revolving higher movable ratios of assets private12& human Pacific resources, Sibongile seized the (28 economies) 8Where collateral laws are effective that credit can to be used GDP. as For collateral example, an increase(24 economies)opportunity presented by the passage of East and Asia credit registries are present, banks of 1 in the creditors’ 35% rights index is associateda unified with registry a 6.5 percentage for movable property point in-OECDSouth Africa’s Black Economic Empowermenteconomies) Act in 2003: she started her own Kong (China), Singapore and Kenya facreasein the average annual growth rate& are Pacific8high incomemore 7 likely to extend loans. Hong Created(24 economies)(24OECDLatin business, America SRS Aviation. Opportunities for cilitate access to credit through laws that of the private-credit-to-GDP 21%high income7ratio in the& Caribbean3government contracts came quickly, but (24 allow economies) all types of assets to be used as Gave 3 years priority after to secured the reform creditors’ relative claims to the 3(32 economies)outside and insidegetting financing was difficult. “I took collateral and do not require a specific years before. 2 bankruptcy proceduresLatin AmericaSouth the government Asia& Caribbean39%tender to the 3bankers,”description of the collateral or obligation. Research shows that introducing a(8 economies)(32 economies)Exempted secured creditors’ claimssays Sibongile. “Forget it, they said. Becausethe amount of money was too large South tries and Asiaallow out-of-court enforcement3crease of 4.2 percentage points in firms’They also have unified collateral regis-from credit an automatic registry is stay associated in reorganization with an in-Sub-SaharanAfrica1(8 economies)Note: A reform may include severaland the collateral too small.”of security rights.reliance on credit. 3 reform features.(46 economies)Source: Doing Business database. This is in part becauseintroducing registries increases theSibongile ended up using her family’ssavings, Africa 0along with her mother’sSub-Saharan In Canada, El Salvador, Georgia,Middle East &Africa1North (46Korea,economies)Peru, Saudi Arabia and the United repayment rate: borrowers become less(19 economies)and aunt’s retirement funds, to finance States credit registries record and make willing to default, since defaults can preventfuture loans. In developing econo-Middle East &Note:theAfirstreformdeal:is countedleasing 1 reformaperplanereformingfromeconomytheper year.North available Africa historical 0 credit information onSource: Doing Business database.(19alleconomies)bank loans—as well as credit fromTable 6.1Note: utilities A reform and is counted retailers—for as 1 reform per both reforming individualsand companies. The registries also Rankings on getting credit are basedeconomy per year.Where is getting credit easy—FIGURE 6.2Source: Doing Business database.FIGURE and where 6.3 not?Private credit bureaus provide more comprehensive make services available to both lenders positive informationon 2 subindicatorsEasiest Rank Most difficult Rank% of FIGURE private (such 6.3 as loan amounts % of and public on-time paymentpatterns) credit bureaus and negative provide informationmore comprehensive services to lenders 33% 33%Regulations onMalaysia 1 Bhutan 172 credit bureauscredit registriesnonpossessory62.5%PrivateService Hong Kong, provided China 2 Djibouti 0173 255075100 security interestsStrength of legal(such as late payments and defaults). % of private in movable% of rights public index (0–10)South Africa 3 Eritrea 174Lists both individuals and firmscredit property bureauscredit registriesUnited Kingdom 4 Madagascar 175 And they allow borrowers to inspect andService provided0255075100Distributes Australia both positive 5 Tajikistan 176 dispute their information.37.5% 33%Depth of creditand Bulgaria negative information 6 Yemen 177 Lists both individuals and firmsDoing Business measures the legalinformation indexDistributes Israel data on all 7loansAfghanistan 178(0–6)Distributes rights of both borrowers positivebelow 1% of income per capitaand lenders and theNew Zealand 8 Syria 179 and negative informationscope and quality of credit information Scope, quality and accessibilityGuarantees Singapore that borrowers 9 Timor-Leste 180 Distributes data on all loansof credit information through publiccan United inspect States data 10 Palau 181 below systems. 1% of The income first per set capita of indicators describeshow well collateral and bank-and private credit registriesDistributes more thanNote: Rankings on the ease of getting credit are based on the Guarantees that borrowers2 sum years of the of strength historical of legal data rights index and the depth of credit can ruptcy inspect laws dataNote: Private bureau coverage and public registry coveragefacilitate lending. The secondinformation index. See Data notes for details.do not count for the rankings. See Data notes for details.Distributes data from retailers,Source: Doing Business database.Distributes set measures more the than coverage, scope, qual-trade creditors or utilities2 years of historical dataSource: Doing Business database.Distributes data from retailers,trade creditors or utilities(c) The International Bank for Reconstruction and Development / The World Bank+3+202Albania UnitedArab Emirates Ukraine Uzbekistan0 2007Cambodia Guatemala Vanuatu ChinaSource: Doing Business database.+3 +36420+4AlbaniaFIGURE 6.5+3UnitedArab Emirates Ukraine+3 +3UzbekistanFIGURETop 5ReformAllowedExpandthat canCreatedGave proutside9%Exemptfrom anNote: A reSource: DoFIGURRankon 2Regulnonposecuriin mopropeScopeof creand pNote: Pdo not

30 Doing Business 2009mies the repayment rate can increaseby up to 80% when a credit registrystarts operation. Small firms benefit themost: in transition economies that introducednew credit registries, their accessto credit grew twice as fast as that oflarge firms. 4Strengthening the legal rights ofborrowers and lenders allows businessesto invest more in new technologies. Onerecent study finds that economies thatscore higher on creditor protections havenewer airplanes. 5 Beyond that, their airlinesinvest in better safety and communicationtechnologies. Why? Part of thereason is that where strong protectionsare lacking, creditors offer only leasing,not loans. So in economies with weakcreditor protections, most planes areleased, and airline owners have less incentiveto upgrade their safety features.New evidence suggests that establishingstrong legal rights and new creditregistries may also reduce income inequality.6 One possible explanation isthat these changes allow more entrepreneursto expand their business. Borrowingmoney from the bank becomes moreabout their creditworthiness—and lessabout whom they know.Who reformed in 2007/08?Cambodia’s new secured transactions lawmade it the top reformer in getting creditin 2007/08. Albania was the runner-upreformer. It created a new public creditregistry with full information on loans ofall sizes, for individuals and for firms.Before the new law took effect inCambodia, business owners could useonly immovable property as collateral.With little land under private ownership,getting a loan was an unreachabledream for most small to medium-sizebusinesses. The new law changed that.Cambodian entrepreneurs can now use abroad range of movable assets to securea loan. That includes revolving assetssuch as inventory and accounts receivable.A general description of collateralsuffices in loan agreements, permittingsuch wording as “all assets” or “all movableproperty” of the borrower. Thanksto these and other provisions of the law,Cambodia’s score on the strength of legalrights index shot up from 0 to 9.Three other economies in East Asiaand Pacific—Vanuatu, China and Taiwan(China)—also made it easier forbusinesses to use movable property asTable 6.2More credit information, more access—popular reform features in 2007/08Provided online access to credit registryExpanded set of information collected incredit registryIntroduced regulations guaranteeingthat borrowers can inspect data in credit registryEstablished new credit registry or bureauExpanded range of revolving movable assetsthat can be used as collateralAllowed out-of-court enforcement of collateralAllowed maximum rather than specific amountsin debt agreementsGave priority to secured creditors’ claimsoutside and inside bankruptcy proceduresExempted secured creditors’ claims froman automatic stay in reorganizationCreated a unified registry for movable propertySource: Doing Business database.Cameroon, Central African Republic, Chad, Republicof Congo, Equatorial Guinea, Gabon, Sri Lanka,West Bank and GazaAzerbaijan, Belarus, Georgia, Kazakhstan, Mauritius,Sri Lanka, Tunisia, VietnamBelarus, Egypt, Georgia, Indonesia, former YugoslavRepublic of Macedonia, Morocco, TunisiaAlbania, Liberia, Montenegro, Ukraine, United ArabEmirates, UzbekistanCambodia, China, Guatemala, VanuatuGeorgia, Guatemala, VanuatuCambodia, Taiwan (China)Cambodia, VanuatuCambodia, Sri LankaCambodiacollateral. Vanuatu passed a new securedtransactions law, the Personal PropertySecurities Act. China revised its propertylaw to allow borrowers to use a varietyof revolving assets and a combined setof assets (such as raw material, productionequipment and finished goods) ascollateral. The new law is expected toput into circulation more than $2 trillionworth of movable assets. 7 Taiwan (China)amended its civil code to allow partiesto a pledge agreement to set the loanamount as a maximum line of credit.In South Asia, Sri Lanka exemptedsecured creditors from automatic suspensionof enforcement procedures incourt during bankruptcy.Georgia amended its civil code inJune 2007 to allow parties to agree thatcollateral can be sold without court intervention.Guatemala passed a law inOctober 2007 establishing a special regimefor registering security interestsin movable property. The law went intoeffect in January 2008.Twenty-seven economies reformedtheir credit information systems in2007/08, improving the quality and scopeof information collected and distributedby credit registries and bureaus (table6.2). Uzbekistan created both a publiccredit registry and a private credit bureau.Albania, Liberia and Montenegrolaunched new public credit registries—and in Montenegro the coverage of borrowerswent from 0 to 26% of the adultpopulation. Ukraine and the United ArabEmirates each set up a private credit bureau.Zambia is doing so.Six more economies in Eastern Europeand Central Asia introduced creditinformation reforms, bringing the totalto 10, the most of any region. Georgianow distributes a full range of information,including on-time repaymentpatterns and outstanding loan amounts.Coverage has increased 20 times. Kazakhstan’sprivate credit bureau is addingnew suppliers of information at a rate of2 a month. Prominent among them arenonbank institutions such as retailersand utility companies. Coverage has shotup by 80%. Moldova passed a new law to(c) The International Bank for Reconstruction and Development / The World Bank

(19 economies)Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.FIGURE 6.3Private credit bureaus provide more comprehensive services to lenders% of private% of publiccredit bureauscredit registriesService provided0255075Lists both individuals and firmsDistributes both positiveand negative informationDistributes data on all loansbelow 1% of income per capitaGuarantees that borrowerscan inspect dataDistributes more than2 years of historical dataDistributes data from retailers,trade creditors or utilitiesSource: Doing Business database.100facilitate the creation of a private creditbureau. Azerbaijan, Belarus and the formerYugoslav Republic of Macedoniaalso reformed.The most popular credit informationreform feature was providing onlineaccess to members. The regional publiccredit registry of the Central AfricanMonetary Union made information accessibleto banks online. That led toexponential growth in coverage in Cameroon,Chad, the Republic of Congo andGabon. Sri Lanka’s credit bureau andWest Bank and Gaza’s public credit registryset up systems allowing banks toupdate information and obtain creditreports online.Many economies issued regulationsTable 6.3Who has the most credit information and the most legal rights for borrowers andlenders—and who the least?Legal rights for borrowers and lenders (strength of legal rights index, 0–10)MostLeastHong Kong, China 10 Burundi 2Kenya 10 Madagascar 2Malaysia 10 Rwanda 2Singapore 10 Afghanistan 1Australia 9 Bolivia 1Bahamas, The 9 Djibouti 1Cambodia 9 Syria 1Denmark 9 Timor-Leste 1New Zealand 9 Palau 0United Kingdom 9 West Bank and Gaza 0Borrowers covered by credit registries (% of adults)MostLeastArgentina 100 Nepal 0.24Australia 100 Algeria 0.20Canada 100 Djibouti 0.18Iceland 100 Mauritania 0.17Ireland 100 Ethiopia 0.13New Zealand 100 Madagascar 0.07Norway 100 Yemen 0.07Sweden 100 Nigeria 0.06United Kingdom 100 Zambia 0.05United States 100 Guinea 0.02Note: The rankings on borrower coverage reflected in the table include only economies with public or private credit registries (129 in total).Another 52 economies have no credit registry and therefore no coverage. See Data notes for details.Source: Doing Business database.FIGURE 6.2GETTING CREDIT 31Rankings on getting credit are basedguaranteeing on 2 subindicators borrowers access to theircredit information. Egypt issued suchRegulations onregulations nonpossessory for the private credit 62.5% bureau.33% 33%Georgia security interests amended its civil Strength code of with legalthein movablerights index (0–10)same property purpose. In the former YugoslavRepublic of Macedonia a 37.5% new law on33%Depth of creditpersonal data protection guarantees thatinformation indexborrowers can review their (0–6) data in thenew public credit registry. In BelarusScope, quality and accessibilityand of credit Tunisia information new laws through allow public individualsand firms private to credit inspect registries their credit data inall central bank offices. Morocco publisheddo not count new for the circulars rankings. See guaranteeing Data notes for details. thatNote: Private bureau coverage and public registry coverageborrowers can review their data in creditregistries—and laying the groundworkfor new private bureaus.Other economies eliminated theminimum threshold for loans recordedin credit registries. Sri Lanka’s privatebureau started using a new online systemto collect data on all loans, regardlessof value. Coverage grew threefold, toaround 1.3 million individuals and firms.Azerbaijan saw coverage more than doubleafter eliminating its minimum loancutoff of $1,100. So did Belarus, afterabolishing its $10,000 cutoff. Mauritiustoo eliminated its cutoff, of $3,000.Tunisia now collects and distributesmore detailed information—bothpositive and negative—on borrowers.Sri Lanka extended the length of timeinformation is recorded from 1 year to2—and distributes positive informationfor 5 years. Indonesia now distributes 2years of historical information. Vietnamextended the period that data are distributedfrom 2 years to 5. That helps explainits 49% increase in coverage, to morethan 8 million individuals and firms.Finland passed a new credit informationlaw that regulates the use of corporatecredit data.Two economies saw developmentsthat reduced the efficacy of their creditinformation systems. Indonesia’s privatecredit bureau closed, unable to competewith the public registry (figure 6.3). AndBurundi was forced to double the minimumcutoff for loans registered in thedatabase to around $900, to cope withtechnical limitations and a sudden increasein loan transactions.(c) The International Bank for Reconstruction and Development / The World Bank

0 20070Cambodia Guatemala Vanuatu ChinaSource: Doing Business database.32 Doing Business 2009AlbaniaUnitedArab Emirates UkraineUzbekistanFIGURE 6.4Collateral reform—East Asia & Pacific rapidly moving forwardNumber of reforms strengthening legal rightsby Doing Business report yearDB2006 DB2007 DB2008 DB2009Eastern Europe& Central Asia12(28 economies)East Asia& Pacific(24 economies)OECDhigh income(24 economies)Latin America& Caribbean(32 economies)South Asia(8 economies)Sub-SaharanAfrica(46 economies)Middle East &North Africa(19 economies)01Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.33What are the reform trends? collateral and by allowing out-of-courtFIGURE 6.3Private credit bureaus provide more comprehensive enforcement. services to lendersIn the past 4 years 34 reforms have % of private Allowing parties % to of public agree to pursuestrengthened the legal rights of borrow-crediers and lenders in 27 economies around faults has been the most popular reformout-of-court bureaus enforcement credit if registries the debtor de-Service provided0255075100Lists the both world—while individuals and 88 firms reforms have improvedcredit both positive information systems in 61 borrowers and lenders (figure 6.5). Thefeature strengthening the legal rights ofDistributesand negative informationeconomies.ability to make such an agreement canDistributes Eastern data on Europe all loans and Central Asia persuade lenders wary of long court proceduresto make a loan in the first place.below 1% of income per capitahas had the most reforms strengtheningGuarantees that borrowerscan the inspect legal data rights of borrowers and lendersin the more past than 4 years, with a total of that have allowed such agreements in-Beyond India and Vietnam, economiesDistributes212 years (figure of historical 6.4). data Large emerging market clude Croatia, France, Ghana, Honduras,Distributes economies, data with from retailers, the exception of the the Kyrgyz Republic and Peru.trade creditors or utilitiesRussian Federation, also figure prominentlyDoing on Business the database. list of reformers. China fied collateral registry that covers sub-Establishing a geographically uni-Source:was a repeat reformer in the past 2 stantially all movable property has beenyears, broadening the range of movable another popular reform feature. Such aassets that can be used as collateral. registry allows potential lenders to findIndia reformed in 2 successive years out easily and with certainty whetherstarting in 2006, establishing an online there are competing claims on the collateral.India stands out among thosecollateral registry and expanding theavailability of out-of-court enforcement. that have taken such a step. Its huge geographicarea and large population makeUkraine improved the standing of securedcreditors in bankruptcy by giving its creation of an online, unified nationaltheir claims priority over labor and state database of security rights in movabletax claims. Vietnam made it easier for assets a notable achievement.entrepreneurs to get a loan by expanding Many economies passed new securedtransactions laws. Three of the range of assets that can be used asthis78FIGURE 6.5Top 5 reform features in legal rightsReforms including feature since DB2006 (%)Allowed out-of-court enforcement of collateralExpanded range of revolving movable assetsthat can be used as collateral35%Created a unified registry for movable property21%Gave priority to secured creditors’ claimsoutside and inside bankruptcy procedures9%Exempted secured creditors’ claimsfrom an automatic stay in reorganizationNote: A reform may include several reform features.Source: Doing Business database.FIGURE 6.247%53%year’s Rankings top on reformers—Cambodia, getting credit are based Guatemalaon 2 subindicatorsand Vanuatu—did just that. Peruintroduced Regulations a onnew bill on guarantees basednonpossessory62.5%on movable property in 33% 2006. Now 33%security interestsStrength of legal almostin movable any type of movable rights asset—tangibleindex (0–10)propertyor intangible, present or future—can37.5%secure a loan, and assets no 33%Depth longer of credithaveto be described specifically. information More than index20(0–6)different types of pledges were consolidatedScope, into quality 1. and The accessibility country’s 17 collateralregistries of credit information have been through combined public as well. 8and private credit registriesThe 88 reforms improving creditinformation Note: Private bureau in coverage the and past public 4 registry years coverage havedo not count for the rankings. See Data notes for details.shown clear results: worldwide, coverageby credit registries more than doubled, toaround 1.8 billion individuals and firms.The fastest reforming region was EasternEurope and Central Asia (figure 6.6). Itsaverage score on the depth of credit informationindex has more than doubledin the past 4 years—from 2.1 pointsto 4.4 out of a maximum of 6—and itscoverage of borrowers has increased bya factor of almost 5. That propelled theregion past Latin America and the Caribbean,and it now ranks behind only theOECD high-income economies.More than a quarter of the reformsin credit information involved setting up(c) The International Bank for Reconstruction and Development / The World Bank

incomeincomeSource: Doing Business database.GETTING CREDIT 33FIGURE 6.6A third of credit information reforms in Eastern Europe & Central AsiaNumber of reforms easing credit information sharingby Doing Business report yearDB2006 DB2007 DB2008 DB2009Eastern Europe& Central Asia(28 economies)Middle East &North Africa(19 economies)Sub-SaharanAfrica(46 economies)Latin America& Caribbean(32 economies)East Asia& Pacific(24 economies)South Asia(8 economies)OECDhigh income(24 economies)Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.46710151630FIGURE 6.7Top 5 reform features in creditinformationReforms including feature since DB2006 (%)Established new credit registry or bureau16%Lowered minimum amount to register loans16%Adopted regulations that guarantee borrowersthe right to access their data9%Started distributing data from retailers,trade creditors or utility companies5%Started distributing both positiveand negative credit informationNote: A reform may include several reform features.Source: Doing Business database.31%new registries: 19 economies saw the creationof private credit bureaus; 8 othersset up new public credit registries (figure6.7). The biggest gains were in EasternEurope and Central Asia, where nearlyhalf the economies established either apublic credit registry or a private creditbureau, followed by the Middle East andNorth Africa.In 20 economies reforms expandedthe range of credit information collectedand distributed by public or private creditregistries. In 13 of these, the public registryeliminated the minimum cutoff forrecording loans, more than quadruplingcoverage on average. What made thisreform possible in many cases was developingthe information infrastructureand shifting from a paper-based to anonline system.In the 8 economies private creditbureaus expanded the sources of creditinformation to nonfinancial institutionssuch as utilities (like mobile phone companies)or retailers (like supermarketsand furniture stores). Such changes tookplace in Bulgaria, Georgia, Kazakhstan,Kenya, Kuwait, Nicaragua, Saudi Arabiaand Trinidad and Tobago. Now peoplewith a cell phone but no bank loans canstill build a credit history—particularlyimportant in poor economies.Notes1. This example is from the World Bank’sDoing Business: Women in Africa (2008a),a collection of case studies on Africanentrepreneurs.2. Djankov, McLeish and Shleifer (2007).3. Brown, Jappelli and Pagano (2008).4. Brown and Zehnder (2007).5. Benmelech and Bergman (2008).6. Claessens and Perotti (2007).7. World Bank (2007c).8. Marechal and Shahid-Saless (2008).(c) The International Bank for Reconstruction and Development / The World Bank

FIGURE 7.1More investor protections associated with greater access for firms to equity marketsand faster stock turnover34 Doing Business 2009Perceived Overviewdifficulty in access to equityTurnover of stocks traded (%)Most75Starting a businessdifficultFIGURE 7.1Dealing with construction permitsMore investor protections associated with greater access for firms to equity markets50 and faster stock turnoverEmploying workersPerceived difficulty in access to equityTurnover of stocks traded (%)Registering property25 Most75Getting creditdifficultLeastdifficult050LeastMostLeastMostprotectionprotectionprotectionprotectionEconomies ranked byEconomies ranked by25Paying taxesNote: Relationships remain significant at the 5% level when controlling for income difficultper capita. Economies are ranked on the perceived difficulty 0strength of investor protection index, quintilesLeaststrength of investor protection index, quintilesTrading access to equity, across with borders 131 being the most difficult. See Data notes for details. LeastMostLeastMostSource: Doing Business database; WEF (2007); World Bank, World Development Indicators protectiondatabase.protectionprotectionprotectionEnforcing contractsEconomies ranked byEconomies ranked byClosing a businessstrength of investor protection index, quintiles strength of investor protection index, quintilesProtectinginvestorsFIGURE 7.3Note: Relationships remain significant at the 5% level when controlling forFIGUREincome per7.4capita. Economies are ranked on the perceived difficultyin access to equity, with 131 being the most difficult. See Data notes for details.Accelerating reforms in Eastern Europe & CentralSource: DoingAsiaBusiness database; WEF (2007); World Bank, World DevelopmentTop 4 reformIndicators database.featuresNumber of reforms strengthening investor protectionsin protecting investorsby Doing Business report yearReforms including feature since DB2006 (%)Investing in DB2006 Costa Rica DB2007 can be a DB2008 risky protections for DB2009 investors explains up to rankings on the index with 29 and 28 ofbusiness. Diego, a Costa Rican entrepreneur,Central is Asia well aware of that: “Why would trast, Accelerating company reforms characteristics in Eastern Europe explain 12 & Central Increased ate disclosure Asia disclosure of requirementsa related-party transac-73% FIGURE of 7.3the decision to invest. In con-30 possible points, both require immedi-47%Eastern Europe&(28 economies)NumberI buy shares in a company if I know its only between 4% and 22%. 1 of reforms strengthening investor protectionsThus both by Doing Business tion report and year of the conflict of interest (tableOECD33%high management income can approve large transactionseconomies) between interested parties without terest Eastern in Europe reforms strengthening investor transaction by the other shareholders.governments DB2006 and businesses DB2007have an in-7.1). They require prior approval of the12 DB2008 DB2009Defined duties for directors(24& Central Asia12East ever Asia disclosing them to its shareholders?” protections.(28 economies)They enable the 22% shareholders to hold the& In Pacific10Costa Rica, as in many other countries Without investor protections, equityhigh income markets fail to develop and banks tion voided if it damages the company. 12directors liable and to have the transac-(24 economies)OECDRegulated approval of related-party transactionsaround the world, minority investors areLatin America(24 economies)& not Caribbean protected against self-dealing—the become 6 the only source of finance. The And in 13% New Zealand shareholders can(32 use economies) by company insiders of corporate assetsfor East personal & gain.size (24 economies) for lack of financing, and economic deciding whether to sue.result: East Asiabusinesses fail to reach efficient Allowed inspect shareholder all internal access documents before& Pacificto corporate documents 10MiddleNorth Africa6Companies grow by raising capital growth is held back. Research in 22 Note: A reform Vietnam may include shows several the reform benefits features. of reforms6 to strengthen investor protections.(19 economies)Latin AmericaSource: Doing Business database.—either through a bank loan or by attractingequity investors. Selling 3 shares where investors have little recourse In 2005, before Vietnam adopted clearemerging & Caribbeanmarket economies shows thatSub-Saharan(32 economies)Africa(46 allows economies) companies to expand without the against Middle East actions & that damage the company,(19 economies) they invest in a few companies saw 60–100 daily trades with a value oflegislation, its unregulated stock marketNorth Africa6South need Asia to provide collateral and repay bank2(8 loans. economies) But investors worry about getting in Sub-Saharan which they take majority stakes. 2 In $10,000–16,000. That was 3–6 times thetheir money back—and look for laws Africa contrast, good protections for 3minoritytrading volume of the regulated Ho ChiNote: A reform is counted as 1 reform per reforming economy per year.(46 economies)Source: that Doing protect Business them. database. A recent study finds shareholders are associated with larger Minh Stock Exchange. 4 After reform ofthat the presence of legal and regulatory South and more Asia active stock markets.the Law on Securities and the Law on2(8 economies)FIGURE 7.5Vibrant stock markets are not theTop Table reformers 7.1 in 2005–08FIGURE 7.2only Note: A reason reform is counted to introduce as 1 reform per stronger reforming economy inves-petor year.in Where protecting are investors protected—andSource:protections.Doing Business database.Rankings on protecting investorsTanzania started reformswhere not?are based on 3 subindicatorsAverage improvement (index 0–10)of investor protections as part of a largerMost 2008 protected Rank Least protected RankRequirementsLiability of CEOinitiative FIGURE 7.5 to reduce corruption and create on approval and disclosure and board of directorsNew Zealand 1 Micronesia +1.4 172 an Top environment reformers in 2005–08of related-partyin related-party+2.4that inspires the trustSingapore 2 Palau 173 in protecting investorsneeded to do business. 3 transactionstransactionsSuch an environmentstrengthens investor confidence in33.3% 33.3%ExtentHong Kong, China 3 Rwanda 174 Average improvement (index 0–10)Extent of2005of directorMalaysia +2.7 4 Venezuela 175 2008disclosure liabilityCanada 5 Vietnam 176 local businesses and government alike.index index+1.4Ireland 6 Djibouti 177 Economies +2.4 that rank high on the33.3%Israel 7 Suriname 178 strength of investor protection indexEase of shareholderUnited States 8 Swaziland 179 2005have extensive disclosure +2.7 requirementssuits indexSouth Africa 9 Lao PDR 180 and give shareholders broad access toUnited Kingdom 10 Afghanistan 181Type of evidence that can be collectedExtent of Extent of Ease of information both before and during trialsto determine director liability. Newbefore and during the trialNote: disclosureRankings are based director on the strength shareholderof investor protectionindex. See index Data notes liability for details. index suits indexNote: See Data notes for details.Zealand and Singapore, which top theSource: Doing Business database.Source: Doing Business database.Extent of Extent of Ease ofdisclosure director shareholder(c) The International Bank indexfor liability Reconstruction index suits and Development index / The World BankFIGURE 7.4Top 4 reformin protectinReforms includIncreased disclDefined dutiesRegulated app13%Allowed sharehto corporate doNote: A reform maySource: Doing BusinFIGURE 7.2Rankings onare based oRequirementson approval anof related-parttransactionsType ofbNote: See Data n

PROTECTING INVESTORS 35Enterprises, the number of listed firmsclimbed from 41 in 2005 to 193 today—and 107 of these are listed on the Ho ChiMinh Stock Exchange. Despite the recentdifficulties in the Vietnamese securitiesmarkets, market capitalization increasedfrom less than $1 billion in 2005 to morethan $13 billion today.Across regions, Latin America regulatesrelated-party transactions the least,imposing the weakest requirements fordisclosure and approval. Many LatinAmerican economies have commerciallaws that have not been reformed sincethe 1920s. Economies in Eastern Europeand Central Asia have stronger requirementsfor disclosure and approval. Butonce a transaction is approved and disclosed,the company directors are notliable for any damage resulting from it.Economies in the Middle East andNorth Africa, such as Djibouti and Oman,limit access to information. That makes itdifficult for minority shareholders to obtainthe evidence needed to prove theircase in court.Who reformed in 2007/08?Twelve economies strengthened investorprotections in 2007/08 (table 7.2).Albania was the top reformer. It adoptedthe Law on Entrepreneurs and CommercialCompanies, which regulates conflictsof interest by requiring shareholderapproval of related-party transactionsinvolving more than 5% of company assets.The law also provides for extensivedisclosure requirements and makes iteasier for minority investors to sue directors.And minority shareholders can nowrequest compensation from directorsfor harm resulting from a related-partytransaction, including repayment of allprofits from the transaction. With thenew law, Albanian company directorshave strong incentives to be responsiveto investor interests.The runner-up reformer was Thailand.After being the top reformer inprotecting investors 3 years ago, Thailandmade new efforts to strengthen minorityshareholder rights, particularly inTable 7.2Greater disclosure—the most popular reform feature in 2007/08Increased disclosure requirementsMade it easier to sue directorsAllowed derivative or direct suitsRegulated approval of related-party transactionsPassed a new company lawRequired an external body to review related-partytransactions before they take placeAllowed rescission of prejudicial related-partytransactionsSource: Doing Business database.the area of director liability. Directorsdamaging the company’s interests canno longer rely on having obtained shareholderapproval of a transaction to avoidliability. If they are held liable, sanctionswill be harsh. They will have to compensatethe company for all damages, payback all profits made from the transactionand pay fines to the state. They evenrisk jail time.Central Asian economies alsostrengthened minority shareholderrights. Tajikistan, Azerbaijan and theKyrgyz Republic brought their companylaws into line with modern regulationsand corporate governance principles.Tajikistan adopted a new joint stockcompanies act. The law defines “interestedparties” and requires shareholderapproval of transactions between suchparties. It also requires interested partiesto immediately disclose conflicts of interestto the board of directors. In addition,derivative suits are now possible: shareholderswith at least 10% of shares canfile a lawsuit on behalf of the companyagainst company directors.Azerbaijan reformed its civil code,and its State Securities Commission adoptednew rules regulating related-partytransactions. The new law defines what ismeant by “related transactions betweeninterested parties” and requires shareholderapproval when such transactionsexceed 5% of company assets. However,interested parties are allowed to voteat the shareholders meeting. The lawalso includes requirements for disclosureAlbania, Azerbaijan, Egypt, Saudi Arabia,TajikistanAlbania, Botswana, Kyrgyz Republic, ThailandGreece, Kyrgyz Republic, SloveniaAlbania, Azerbaijan, TajikistanAlbania, Botswana, TajikistanEgypt, TurkeyTunisiaboth to the market regulator and throughthe company’s annual reports. As in Albania,minority shareholders can nowrequest compensation for damages to thecompany resulting from related-partytransactions.The Kyrgyz Republic reformed itsjoint stock companies act. From now on,shareholders can sue in their own namethe directors who damaged shareholders’interests and request compensationfrom them.Botswana defined related-partytransactions and clarified disclosure provisionsin its Companies Act of 2004,which came into force in July 2007. Establishingthe liability of directors is noweasier: shareholders can file suit againstthem if the transaction proves prejudicialto the company. If directors are held liable,they not only have to cover damages butalso have to pay back all profits made—agood reason to think twice before attemptingto misuse company assets.The Egyptian Capital Market Authoritymade improving disclosure requirementsa priority when it amendedthe listing rules of the Cairo Stock Exchange.The amendments are aimed atincreasing transparency both before andafter related-party transactions are concluded.Such transactions now have tobe assessed by an independent financialadviser before they take place, ensuringthat shareholders will be better informed.The amendments also clarify requirementsfor disclosure through companies’annual reports. In March 2008 Turkey(c) The International Bank for Reconstruction and Development / The World Bank

36 Doing Business 2009Table 7.3Where are investor protections strong—and where not?Extent of disclosure index (0–10)Mostundertook similar reforms. The listingrules of the Istanbul Stock Exchange nowrequire an independent body to assessall related-party transactions before theyare approved.Saudi Arabia amended provisionsof its company law. Interested directorsmay no longer vote at a shareholdersmeeting to approve related-party transactions.And just as in Albania, Botswanaand Thailand, directors found liable fordamage to a company due to a relatedpartytransaction will have to repay allprofits made from it.Greece adopted a new company lawLeastBulgaria 10 Ukraine 1China 10 Afghanistan 0France 10 Lao PDR 0Hong Kong, China 10 Maldives 0Ireland 10 Micronesia 0Malaysia 10 Palau 0New Zealand 10 Sudan 0Singapore 10 Swaziland 0Thailand 10 Switzerland 0United Kingdom 10 Tunisia 0Extent of director liability index (0–10)MostLeastAlbania 9 Tajikistan 1Cambodia 9 Togo 1Canada 9 Zimbabwe 1Israel 9 Afghanistan 0Malaysia 9 Dominican Republic 0New Zealand 9 Marshall Islands 0Singapore 9 Micronesia 0Slovenia 9 Palau 0Trinidad and Tobago 9 Suriname 0United States 9 Vietnam 0Ease of shareholder suits index (0–10)EasiestMost difficultKenya 10 Lao PDR 2New Zealand 10 Syria 2Colombia 9 United Arab Emirates 2Hong Kong, China 9 Venezuela 2Ireland 9 Yemen 2Israel 9 Guinea 1Mauritius 9 Morocco 1Poland 9 Rwanda 1Singapore 9 Djibouti 0United States 9 Iran 0Source: Doing Business database.that lowers the threshold for derivativesuits. Now shareholders need to haveonly 10% of the company’s shares, downfrom 33% before. Slovenia changed itslaws to allow minority investors with atleast 10% of shares to bring derivativesuits before the court.Tunisia adopted a law giving shareholdersthe right to directly access internalcompany documents and to askfor the appointment of an independentinspector. That will make it easier togather evidence to support a court claim.The new law also gives 10% shareholdersthe right to request a judge to rescindprejudicial related-party transactions.Reforms of corporate governanceand, in particular, of company laws tookplace worldwide—from Syria to SriLanka, from Indonesia to Vietnam. Argentinafurther strengthened corporategovernance principles by introducing acomprehensive set of “comply or explain”rules for listed companies.Ongoing reforms to implementthe European Union Transparency Directivesare taking place in several EUmember countries, such as Austria andLuxembourg, and in candidate membercountries, such as Croatia. Implementingthese EU directives often requiresamending the company and securitieslaws. Bulgaria and Romania amendedtheir company laws in the past 2 years,and both countries are now implementingthese amendments.What are the reform trends?Experience over the past 4 years showsthat economies can successfully enhancethe protections they provide to minorityshareholders. It often takes time, evenwhen the necessary political will exists.But economies like Albania, Azerbaijanand the Kyrgyz Republic demonstratethat it can be done in months, not years.Sometimes the private sector opposesreforms that are designed to protectminority investors, especially ineconomies with a high concentrationof ownership. One possible reason isthat complying with extensive disclosurerequirements can represent a financialburden for companies, particularly indeveloping economies. In Mexico, forexample, the most vocal opponent of reformwas one of the country’s wealthiestbusinessmen. 5 In Georgia it was one ofthe largest commercial banks.Such opposition has not preventedreform: Doing Business has recordedmore than 50 reforms to strengthen investorprotections in 41 economies overthe past 4 years. Eastern Europe andCentral Asia and the OECD high-incomeeconomies have had the most reforms,with 12 each (figure 7.3).(c) The International Bank for Reconstruction and Development / The World Bank

(8 economies)2Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.38 Doing Business 2009FIGURE 7.5Top reformers in 2005–08in protecting investorsAverage improvement (index 0–10)20082005+2.4Extent ofdisclosureindex+2.7Extent ofdirectorliability indexSource: Doing Business database.+1.4Ease ofshareholdersuits indexchoose to amend existing regulations orstart from scratch, depending on howup-to-date their current legislation is. In2007 Georgia amended its securities legislationby adding provisions regulatingdisclosure and approval of transactionsbetween interested parties. Belarus, Colombiaand Thailand did the same. Othercountries, such as Mozambique and Slovenia,started from scratch. Adopting anentirely new law offers an opportunityto reform other areas—such as businessregistration, directors’ duties, disclosurerules and issuance of shares.Reformers often find inspiration ineconomies with a similar legal originor in their main commercial partners.Mexico’s securities law reform took intoaccount aspects of a U.S. law—the PublicCompany Accounting Reform and InvestorProtection Act of 2002, commonlyknown as the Sarbanes-Oxley Act. Botswanaand Mozambique followed theSouth African model. As a reformerfrom Mozambique explains, “Our previouscode was inherited from Portugal.Today our main commercial partner isSouth Africa, and we are surrounded bycountries that have the same model. Weprefer to adopt legislation that would enableus to attract more investment fromSouth Africa and make life easier for ourmain investors.”Even the best regulations will makelittle difference if the court system isweak. Bangladesh and Montenegro havelaws setting out strong disclosure requirementsand extensive obligations fordirectors. But with the most basic commercialdisputes taking more than 1,000days to resolve in Bangladesh and morethan 500 in Montenegro, these laws maynot have the desired effect.NotesFIGURE 7.2Rankings on protecting investors1. are Doidge, based Karolyi on 3 subindicatorsand Stulz (2007).2. Requirements Dahya, Dimitrov and McConnell Liability (2008). of CEOon approval and disclosure and board of directors3. Sitta (2005).of related-partyin related-party4. transactions World Bank (2006c).transactions33.3% 33.3%Extent5. See Johns and Extent Lobet of (2007). of directordisclosure6. McKinsey & Company liability (2002, p. 8).index index7. Lobet (2008).33.3%Ease of shareholdersuits indexType of evidence that can be collectedbefore and during the trialNote: See Data notes for details.(c) The International Bank for Reconstruction and Development / The World Bank

OverviewStarting a businessDealing with construction permitsEmploying workersRegistering propertyGetting creditProtecting investorsPaying taxesTrading across bordersEnforcing contractsClosing a businessFIGURE 8.1Top 10 reformers in paying taxesAverage improvement2007200848% 16% 4%Payments Time Totaltax rate1.2.3.4.5.6.7.8.9.10.Dominican RepublicMalaysiaAzerbaijanSouth AfricaChinaGreeceColombiaFranceHondurasThailandSource: Doing Business database.PAYING TAXES 39For Kah, the owner of a Cameroon-basedmanagement consulting business, havinga simple tax system with standardizedFIGURE 8.1ratesTop 10andreformerspaymentin payingchannelstaxesis fundamentalAverage improvement to the ease of doing business. Yetin Cameroon, which ranks among the2007most difficult 48% economies 16% in which to 4% paytaxes, complying with tax regulationstakes more than 1,000 hours and 41 taxpayments a year. 12008 To file a tax return for her company,Kah often spends hours waiting inthe tax office for information from taxinspectors. Because she refuses to payextra, she regularly endures long, costlycourt procedures. And because the taxsystemPaymentslacks transparency,TimeresultsTotalaretax rateoften arbitrary.Kah feels that tax officers see her asan easy target. She is not the only one.A recent study in Uganda shows thatenterprises headed by women perceivea greater regulatory burden—and moreFIGURE harassment 8.3 from public officials—thanthose headed by men. 2Total tax Taxes rate are (% of profit) essential. Without them60 there would be no funds for the basicOther taxespublic services vital to a well-functioning1. Dominican Labor Republic taxes and contributionseconomy 2. Malaysia and Profit an taxes inclusive society. Yet40 firms 3. Azerbaijan in 90% of the countries covered bythe 4. World South Bank Africa Enterprise Surveys ranktax 5. rates China and tax administration among20 the 6. top Greece 5 obstacles to doing business. 37. ColombiaBusinesses prefer lower tax rates that8. Franceare applied in a straightforward way. Or,09. Hondurasif 10. rates Thailand are high, businesses want goodservicesMiddlein return.East East Asia South& North & Pacific AsiaWhere Africataxes are high and commensurateSource: Doing gains Business seem database. low, many businessessimply choose to stay informal. A recentstudy finds that higher tax rates are associatedwith less private investment, fewerFIGURE 8.4Most formal time businesses in Latin America per capita & Caribbean and lowerrates of business entry. The analysis suggests,for example, that # tax a 10% payments increase inNumber ofthe effective corporate tax rate reducesOECD13the investment-to-GDP ratio by 2 percentageMiddle points. East 423EconomiesEast Asiathat rank high on the25ease of paying taxes tend to have lowerand less complex business taxes (table 328.1). Sub-Saharan They also have simple administrativeprocesses for paying the taxes and38Eastern Europefiling tax returns. For businesses, it’s notFIGURE 8.3Table 8.1Profit taxes lowest, but overall tax burden still high in Eastern Europe & Central AsiaWhere is it easy to pay taxes —Total and where tax rate not? (% of profit)often higher revenue for governments.In Mauritius in 2007/08, the governmentcollected 4 billion Mauritian rupees($150 million) more in revenuethan had been projected. Reforming thetax system was a key part of the government’sagenda over the past 3 years. Thefocus: creating an enabling environmentfor businesses through low and simpletaxes coupled with fast and efficient administration.The strategy paid off.Profit taxes lowest, but overall tax burden still high in Eastern Europe & Central AsiaOECDhighincomeWho reformed in 2007/08?Thirty-six economies made it easier topay taxesEasternin 2007/08.LatinAsSub-Saharanin previousEurope & America Africayears, Central the most & popular Caribbean reform featureAsiawas reducing the profit tax rate, donein no fewer than 21 economies. Thesecond most popular was introducingand improving electronic filing and pay-FIGURE 8.2Rankings on paying taxes are based on3 subindicatorsEasiest 60Rank Most difficult RankOther taxesMaldives 1 Panama 172high income 183 Number Time of hours (hours per year) Firm tax liabilityLabor taxes and contributionsper year to prepare, as % of profits beforeQatar Profit 2taxesJamaica 173file returns& North Africa 216all taxes borneHong 40 Kong, China 3 Mauritania 174and pay taxesUnited Arab Emirates 4 Gambia, The 175& Pacific 252Singapore 5 Bolivia 17633.3% 33.3%South AsiaIreland 6 Venezuela 177Time 293 Total20tax rateSaudi Arabia 7 Central African Republic 178Africa 312Oman 8 Congo, Rep. 17933.3%Kuwait 9 Ukraine 180 & Central Asia463880PaymentsKiribati 10 Belarus 181 just Latin the America tax rates that matter. The administrativeMiddle East East Asia South OECDNote: Rankings are the average of the economy rankings on the& Caribbean Eastern Latin Sub-Saharan35394& North & Pacific Asiahigh Europe processes & America do too. Africanumber of payments, Africa time and total tax rate. See Data notes incomeFastCentraland efficient& CaribbeanNumber of tax payments per yearadministrationfor details.Source: Doing Asia Business database.Source: Doing Business database.Note: See Data notes for details.Source: Doing Business database.means less hassle for businesses—andFIGURE 8.5A third of reforms in Eastern Europe & Central AsiaNumber of reforms easing payment of taxesby Doing Business report yearFIGURE 8.4(c) The International Bank for Reconstruction and Development / The World BankFIGURERank3 subNumbper yefile reand pNote: SeFIGURETop 5Reforms

tax rateSource: Doing Business database.40 Doing Business 2009ment systems. This reform, done in 12economies, reduced the frequency ofpayments and the time spent payingtaxes and filing returns. Eight economiesreduced the number of taxes paid bybusinesses by eliminating smaller taxessuch as stamp duties. The top 10 reformersfor paying taxes this year reduced thenumber of payments by almost half. Bosniaand Herzegovina, Bulgaria, Morocco,Mozambique and Zambia revised theirtax codes (table 8.2).Two economies introduced newtaxes: Botswana and Venezuela. That increasesnot only the costs but also theadministrative burden for businesses.The Dominican Republic was thetop reformer in 2007/08. It lowered thecorporate income tax from 30% to 25%,abolished several taxes (including thestamp duty) and reduced the propertytransfer tax. In addition, in 2007 it fullyimplemented online filing and payment,piloted in 2006.Malaysia was the runner-up reformer.It reduced the corporate incometax for 2009 to 25%—part of a gradualreduction that has seen the rate declineto 27% in 2007 and 26% in 2008. Thereform also introduced a single-tier taxsystem, in which profits are taxed onlyafter dividend payments are exempted.The capital gains tax was abolished in2007 to spur investment in the realFIGURE 8.3Profit taxes lowest, but overall tax burden still high in Eastern Europe & Central AsiaTotal tax rate (% of profit)6040200Middle East& NorthAfricaSource: Doing Business database.Other taxesLabor taxes and contributionsProfit taxesEast Asia& Pacificproperty and financial market sectors.And electronic payment systems wereimproved,FIGURE 8.4increasing online filing andpayments.Most time in Latin America & CaribbeanAmong regions, Eastern Europeand Central Asia had#Number ofthe tax payments most reformsin 2007/08. OECD Nine economies reformed,13mainly continuing the trend of reducingMiddle Eastthe profit tax rate, already among 23 thelowest East in the Asia world (figure 8.3). Albania,25Bosnia and Herzegovina and the formerYugoslav Republic of Macedonia all 32re-duced Sub-Saharan their profit tax to 10%. Georgia38reduced the corporate income tax fromEastern Europe20% & Central to 15% Asiaand abolished the social tax.The Latin Czech America Republic reduced its corporateincome tax rate to 21%.& CaribbeanSource: Azerbaijan Doing Business database. and Ukraine made ithigh income 183& North Africa 216& Pacific 252Belarus, Latin America Dominican Republic, Georgia,Madagascar, & CaribbeanMalaysia, Mexico, South Africa,(32 economies)UruguayBosniaMiddleandEastHerzegovina,&Bulgaria, Morocco,North Africa12Mozambique, (19 economies) ZambiaFrance, East Asia Mongolia, Ukraine& Pacific7(24 economies)OECDhighincomesimpler to file and pay taxes by introducingelectronic systems and onlinepayment capabilities. That significantlyreduced the time spent preparing, filingand paying taxes in the region. Belarusreduced the tax and administrative burdenon businesses by abolishing someTime (hours per year)taxes and reducing the frequency of payments.Bulgaria reduced labor taxes andcontributions.Following closely with 7 reformseach are the OECD high-income economiesand Latin America and the Caribbean.Five OECD high-income economies46reduced corporate income tax rates.388Canada 35 is gradually reducing the corporateincome tax to 15% by 2012 as part394of ambitious reforms in its tax system.The reforms also include abolishing the1.12% surtax and introducing accelerateddepreciation for buildings (10%)and computers (50%). Also reducing thecorporate tax rate were Denmark (from28% to 25%), Germany (from 25% 44 to15%), Italy (from 33% to 27.5%) andSouth Asia 293Africa 312FIGURE 8.5Table 8.2A third of reforms in Eastern Europe & Central AsiaReducing tax rates —the most common reform feature in 2007/08Number of reforms easing payment of taxesby Doing Business report yearReduced profit tax ratesAlbania, Antigua and Barbuda, DB2006 Bosnia and DB2007 DB2008 DB2009Herzegovina, Eastern Europe Burkina Faso, Canada, China, Côted’Ivoire, & Central Czech Asia Republic, Denmark, DominicanRepublic, (28 economies) Georgia, Germany, Italy, former YugoslavRepublic of Macedonia, Madagascar, Malaysia,Morocco, Sub-Saharan New Zealand, Samoa, St. Vincent and theAfricaGrenadines,(46 economies)ThailandSimplified process of paying taxesAzerbaijan,OECDBelarus, China, Colombia, DominicanRepublic, high income France, Greece, Honduras, Malaysia, 18Mozambique, (24 economies) Tunisia, UkraineEliminated taxesRevised tax codeReduced labor tax or contribution ratesSource: Doing Business database.SouthAsia17EasternEurope &CentralAsiaLatinAmerica& CaribbeanSub-SaharanAfricaNew Zealand (from 33% to 30%).22France and Greece made filingand paying taxes faster by implementingmandatory electronic filing for labortaxes and contributions.In Latin America and the Caribbean,besides the reforms in the DominicanRepublic, Antigua and Barbuda reducedthe corporate income tax rate from 30%to 25%. St. Vincent and the Grenadinesintroduced a new value added tax thatreplaced several existing taxes, includ-FIGURE 8.2Rankings on3 subindicaNumber of hper year to pfile returnsand pay taxeNote: See Data noFIGURE 8.6Top 5 reformReforms includiReduced profit22%Simplified proc19%Revised tax cod17%Eliminated taxe14%NumbReduced laborNote: A reform maySource: Doing BusinSouth Asia(8 economies)(c) The International Bank for Reconstruction and Development / The World BankNote: A reform is counted as 1 reform per reforming economy per year.6

AfricaSource: Doing Business database.incomeCentralAsia& CaribbeanNote: SePAYING TAXES 41ing the hotel tax, entertainment tax,consumption duty, stamp duty on receiptsand domestic and internationaltelecommunications surcharge. Uruguayabolished a tax on consumption. Mexicoabolished its asset tax. Colombia andHonduras made paying taxes easier byimplementing and improving online filingand payment systems. That cut thetime spent filing and paying taxes, especiallyin Honduras.In Africa 6 economies reformed.Three reduced their corporate incometax rate (table 8.3). Burkina Faso reducedits corporate income tax rate from35% to 30%, its dividend tax rate from15% to 12.5% and its property transfertax rate from 10% to 8%. Côte d’Ivoirereduced the corporate income tax ratefrom 27% to 25%. Madagascar reducedthat rate from 30% to 25% and abolished9 taxes, including the stamp duty anddividend tax. In Africa taxes other thanthe profit tax—such as stamp duties,property taxes and labor taxes—accountfor the largest share of the total tax rate.This is reflected in the large number ofFIGURE 8.4Most time in Latin America & CaribbeanSource: Doing Business database.#Number oftax paymentsOECDhigh income13183Middle East& North Africa 23216East Asia& Pacific 25252Time (hours per year)South Asia 32293Sub-SaharanAfrica 38312Eastern Europe& Central Asia46Latin America& CaribbeanFIGURE tax payments 8.5 African businesses must reformed. Aside from Malaysia, ChinaAmakethirdeachof reformsyear (figurein Eastern8.4).Europe & CentralmadeAsianotable reforms, reducing the corporatereport income year tax from 33.3% to 25%Number of reforms easing payment of taxesMozambique eased the filing and by Doing Businesspaying of taxes by introducing DB2006 electronic DB2007and unifying DB2008 accounting DB2009 methods andEastern systems. Europe It also revised its tax code to criteria for tax deductions and exemptions.Meanwhile, online filing became& Central Asia44(28 make economies) necessary updates, remove ambiguitiesand strengthen tax compliance more prevalent. Thailand introducedSub-SaharanAfrica and collection. Zambia did the same. corporate 22 income tax exemptions for(46 economies)These changes should increase the effectivenesssmall companies, reduced the corporateof tax administration.income tax rate to 25% for newly listedOECDhigh income18(24 economies) In East Asia and Pacific 5 economies companies and reduced several propertytaxes by sizable rates. It also made onlineTable 8.3Latin America& Caribbean17Major cuts in corporate income tax rates in 2007/08filing and payments easier. Samoa loweredits corporate income tax from 29%(32 economies)Region Middle Reduction East in & corporate income tax rate (%)to 27%. Mongolia reduced social securityNorth Africa12OECD high income (19 Canada economies) from 22.1 to 19.5contributions paid by employers fromCzech Republic from 24 to 21East Asia19% to 11% of gross salaries.&DenmarkPacificfrom 28 to 257In the Middle East and North Africa(24 Germany economies) from 25 to 15only 2 economies reformed. MoroccoItaly from 33 to 27.5South AsiaNew Zealand from 33 to 30 6lowered the standard corporate tax rate(8 economies)from 35% to 30%. Tunisia made filingEast Asia & Pacific China from 33.3 to 25Note: A reform is counted as 1 reform per reforming economy per year.Malaysia from 27 to 25and paying taxes easier by expandingSource: Doing Business database.Samoa from 29 to 27electronic options. Although companiesThailand from 30 to 25have been able to file and pay taxes onlineEastern Europe & Central Asia Albania from 20 to 10since 2005, many have been reluctant toBosnia and Herzegovina from 30 to 10pay their taxes this way. To address theirLatin America & CaribbeanGeorgia from 20 to 15Macedonia, former Yugoslav Republic of,from 12 to 10Antigua and Barbuda from 30 to 25Dominican Republic from 30 to 25St. Vincent and the Grenadines from 40 to 37.5concerns while easing the administrativeburden, Tunisian authorities introducedan option for filing tax returns onlinewhile paying the taxes in person at a taxoffice. This is a practical intermediatestep toward a full online system.South Asia recorded no significantreforms.Sub-Saharan Africa Burkina Faso from 35 to 30Côte d’Ivoire from 27 to 25Madagascar from 30 to 25Middle East & North Africa Morocco from 35 to 30Source: Doing Business database.35388394FIGURETop 5ReformsReduceSimplifiRevised1Elimina14%ReduceNote: A reSource: Do(c) The International Bank for Reconstruction and Development / The World Bank

FIGURE 8.3Profit taxes lowest, but overall tax burden still high in Eastern Europe & Central AsiaTotal tax rate (% of profit)42 Doing Business 200960Other taxesLabor taxes and contributionsProfit taxes40What are the reform trends?Revenue authorities around the worldare making great efforts to streamlineadministrative processes and modernizepayment systems. In the past 4 years20Doing Business has recorded 126 reformsaimed 0 at reducing tax rates or the time orcost toMiddlecomplyEastwithEasttaxAsialaws.SouthThe & North trend across & Pacificall regions Asia hasAfricabeen to lower the total tax rate paid bySource: Doing Business database.businesses. In 2004 the average total taxrate was 50.6% of commercial profits. By2007 it had fallen to 49.3%. Meanwhile,FIGURE the time 8.4 to comply with tax laws droppedMost by 16 time hours in a Latin year America on average. & CaribbeanAbout 50% of economies have implementedreforms making tax payments it easier to#Number ofpay taxes OECDin the past 4 years.13Amongregions, Eastern Europe and Central AsiaMiddle Easthas had the most reforms, followed23byAfrica East (figure Asia 8.5). South Asia has 25 hadthe fewest.tax revenue by lowering rates and persuadingmore businesses to comply withthe more favorable rules.Look at the Russian Federation’slarge tax cuts in 2001. Corporate tax ratesfell from 25% to 24%, and a simplified taxscheme lowered rates for small business.Yet tax revenue increased—by an annualaverageEasternof 14% overLatinthe nextSub-Saharan3 years. Onestudy Europe shows & that America the new revenue Africa wasCentral & Caribbeandue to greater compliance. 5Source: Doing Business database.OECDhighincomeAsiaGoing electronicIntroducing electronic filing has beena popular and effective way to make iteasier to pay taxes. Businesses can enterfinancial information online and file itwith one click—with no calculations andno interaction with tax officials. Errorshigh income 183 Time (hours per year)can be identified instantly, and returns& North Africa processed216quickly. In Hong Kong (China)businesses file an electronic corporate& Pacific 252tax return and pay corporate income taxSouth Asia 32293annually. Complying with tax requirementstakes just 80 hours a year. SixtyCutting Sub-Saharan ratesAfrica 38312ReducingEastern Europecorporate income tax rates has economies—from Azerbaijan to Colombiaand Lesotho—have made e-filingbeen & Central the Asia46388most popular reform feature(figureLatin America& Caribbean8.6). More than 60 economies possible, 35 and the list is growing. 394have done this. Countries can increase These reforms can ease the adminis-FIGURE 8.2Rankings on paying taxes are based on3 subindicatorsNumber of hoursFirm tax liabilitytrative per year burden to prepare, of paying as taxes. % of profits But before it canfile returnstake time for them to make a all real taxes difference.In Argentina and Tunisia it tookborneand pay taxesalmost 3 years 33.3% before smaller 33.3% firms feltthe impact. The Time reason is Total that small firmstax rateoften lack the software needed for electronicfiling and payments. Moreover,33.3%taxpayers often Payments distrust online systemswhen it comes to dealing with sensitivefinancial Number information. of tax payments per yearBusinesses in Azerbaijan are benefitingfrom an ambitious tax modern-Note: See Data notes for details.ization reform started by the government3 years ago. Electronic paymentand filing systems have been in placesince March 2007. The goal is to have100% online filing. Tax authorities havebeen actively promoting online filingamong businesses paying value addedtax. The efforts have had results: 95% ofthese businesses are using the service,completing more than 200,000 onlinetransactions in the first 3 months of 2008alone—and saving an average 577 hoursa year. Online filing is also available forcorporate income tax.Reforms introducing electronicpayment and filing systems often needto provide public education and training.FIGURE 8.5A third of reforms in Eastern Europe & Central AsiaNumber of reforms easing payment of taxesby Doing Business report yearDB2006 DB2007 DB2008 DB2009Eastern Europe& Central Asia(28 economies)Sub-SaharanAfrica(46 economies)OECDhigh income(24 economies)Latin America& Caribbean(32 economies)Middle East &North Africa(19 economies)East Asia& Pacific(24 economies)71217182244FIGURE 8.6Top 5 reform features in paying taxesReforms including feature since DB2006 (%)Reduced profit tax22%Simplified process of paying taxes19%Revised tax code17%Eliminated taxes14%Reduced labor taxes or contributionsNote: A reform may include several reform features.Source: Doing Business database.71%South Asia(8 economies)6Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

PAYING TAXES 43Azerbaijan provided free software to taxpayers6 months before implementing itsnew system, giving them time to becomefamiliar with it. Distributing the tax softwareearly paid off in more than oneway: users also suggested improvementssimplifying the design of the software’sinterface.To make the new online systemmore effective, Azerbaijan’s governmentalso introduced advanced accountingsoftware to help in computing tax payments.This has especially benefitedmedium-size companies, which make upa sizable share of the users. For smallerenterprises, more likely to lack accessto the internet, the Ministry of Taxes isinstalling computer stations around thecountry that are linked to the centraldatabase.Kenyan and Mozambican taxpayerstoo are enjoying the benefits of electronictax systems. Companies in Kenyacan complete and submit social securityforms online. Complying with labor taxobligations used to take them 72 hoursa year; now it takes about 20% less time.Their Mozambican counterparts cancomplete social security forms electronicallyand are looking forward to beingable to submit them online, which willfurther simplify the task.Notes1. This example is from the World Bank’sDoing Business: Women in Africa (2008a),a collection of case studies of African entrepreneurs.2. Ellis, Manuel and Blackden (2006).3. World Bank Enterprise Surveys(http://www.enterprisesurveys.org).4. Djankov, Ganser, McLiesh, Ramalho andShleifer (2008).5. Ivanova, Keen and Klemm (2005).Table 8.4Who makes paying taxes easy—and who does not?Payments (number per year)FewestMostMaldives 1 Côte d’Ivoire 66Qatar 1 Serbia 66Sweden 2 Venezuela 70Hong Kong, China 4 Jamaica 72Norway 4 Kyrgyz Republic 75Singapore 5 Montenegro 89Kiribati 7 Ukraine 99Latvia 7 Uzbekistan 106Mauritius 7 Belarus 112Afghanistan 8 Romania 113Time (hours per year)FastestSlowestMaldives 0 Ukraine 848United Arab Emirates 12 Venezuela 864Bahrain 36 Czech Republic 930Qatar 36 Nigeria 938Bahamas, The 58 Armenia 958Luxembourg 59 Vietnam 1,050St. Lucia 61 Bolivia 1,080Oman 62 Belarus 1,188Switzerland 63 Cameroon 1,400New Zealand 70 Brazil 2,600Total tax rate (% of profit)LowestHighestVanuatu 8.4 Tajikistan 85.5Maldives 9.1 Uzbekistan 90.6Qatar 11.3 Mauritania 98.7United Arab Emirates 14.4 Argentina 108.1Kuwait 14.4 Belarus 117.5Saudi Arabia 14.5 Central African Republic 203.8Bahrain 15.0 Congo, Dem. Rep. 229.8Zambia 16.1 Sierra Leone 233.5West Bank and Gaza 16.8 Burundi 278.7Botswana 17.1 Gambia, The 292.4Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

44 Doing Business 2009OverviewStarting a businessDealing with construction permitsEmploying workersRegistering propertyGetting creditProtecting investorsPaying taxesTrading acrossbordersEnforcing contractsClosing a businessexport2008Source: Doing Business database.FIGURE 9.1Speeding trade—especially in Eastern Europe & Central AsiaReduction in the time to export (days)Time toexport2005Time toexport2008Eastern Europe& Central Asia4.6daysSub-SaharanAfrica4.4daysMiddle East& NorthAfrica4.3days4.1daysSouthAsiaLatinAmerica& Caribbean2.9days2.5daysEast Asia& PacificOECDhighincome0.6daysSource: Doing Business database.100DocumentsSource: Doing BusinFIGURE 9.2Rankings onare based oAll documents rby customs andother agencies33Documto exand imCoCáñamo, a Venezuelan company exportinghandicrafts, trade—especially is eager to supply in Eastern larger Europe have & Central a better Asia chance, thanks to ongoing FIGURE reduced 9.3 the time to trade. The averageExporters in landlocked Rwanda Implementing these practices hasFIGURE 9.1Speedingclients—preferably, large U.S. departmentstores. It has the capacity to fill Links, a Kigali-based business run by Time 2005. to import (days)reforms. Indeed, baskets from Gahaya Madagascar time to export speeds has fallen imports by 3 days sinceReduction in the time to export (days)Middle East FIGURE 9.4 LatinOECDThe biggest decline was in Easternorders withinEastern Europe2 weeks. But there is one sisters Africa Janet has reformed and Joy, are the already most available high50Sub-Saharan & North South America East AsiaEurope and Central Asia—almost 5 days 2007Time to & Central Asia AfricaAfricaAsia & Caribbean & Pacific incomeexport problem: bureaucracy. “I need to get a to U.S. households in Macy’s department Number of reforms (figure easing 9.1). trade The time to export droppedlabor compliance certificate from the stores. 1 by Doing Business report year20050.6It wasn’t DB2006 easy at first, DB2007 days with high by 4 days in Africa, the Middle East and2.5DB2008 40DB2009Ministry of Labor, but before issuing the shipping Sub-Saharan costs 2.9 and days inadequate roads to North Africa and South Asia. It declinedAfricacertificate the ministry demands 4 other the port city of Mombasa, Kenya. But the by less than 3 days in East Asia 274.64.44.34.1 daysand(46 economies)documents daysfrom municipal daysdays daysauthorities. government has reformed 2 years in a 30 Pacific and Latin America. Time The cut from longestLatin America49 days to 27For each export consignment I need to row, & Caribbean and exporting is becoming easier. average export delays are 22 in Central Asiainform the authorities of my intention to (32 economies) Doing Business measures the procedural(58 days) and Central Africa (48 days), 2008export, confirm the exports and get a letterMiddle requirements, East & including the num-20 where most countries are landlocked.confirming that I have refunded the ber North of Africa14Time tonecessary documents and the The top performers on the ease of(19 economies)exportforeign exchange earned to the central associated time and cost (excluding trade trading across borders continually consult13 export businesses on how to make2008East Asiabank,” says Bruno, the company’s owner. tariffs) for exporting and importing.10& PacificSource: Doing Business database.Getting through all the paperworkcan take 2–6 months on average. Faced(24 economies) The more time consuming the exportEastern or Europe import process, the less likelytrading easier (table 9.1). In Denmark,for example, 3 main trade documents& Central Asia12FIGURE with this 9.10long and unpredictable export that a trader will be able to reach markets& Central in a timely Asiafashion. This affects the customs Documents declaration) Port Customs suffice Transport to cover(bill of lading, commercial invoice and(28 economies)Speeding process, Cáñamo trade—especially has little in chance Eastern of EuropeReduction South Asiaentering the in the U.S. time market. to export (days)Proceduresability to expand businesses and create most trade transactions. And these are(8 economies)7Middle EastLatinOECDSource: Doing Business database.jobs. Recognizing this, many economiesTable 9.1 Eastern Europe Sub-Saharan & North South America East Asia highTime to & Central Asia AfricaAfrica have OECD Asia worked & Caribbean to introduce & Pacific practices income thatexport Where is trading easy—and where not?FIGURE 9.2high income72005reduce(24 economies)the time and costs associated 0.6 with Rankings on trading across bordersEasiest Rank Most difficult Rankdaysare based on 3 subindicatorstrade. Note: A reform These is counted include as 1 reform providing 2.5 per reforming electronicSingapore 1 Angola 1722.9economy per year. All documents requiredfiling Source: Doing of trade Business documents database. daysDocument preparation,(through electronicdata interchange systems), allow-4.64.44.34.1 daysby customs andcustoms clearance andHong Kong, China 2 Burkina Faso 173days daysdays daysother agenciestechnical control, portsDenmark 3 Azerbaijan 174and terminal handling,Finland 4 Central African 175 ing shippers to declare manifests online,inland transport33.3% 33.3%Republicand handlingreducing document requirements andDocuments Time toEstonia 5 Congo, Rep. 176to export exportusing risk-based inspections. AnotherSweden 6 Tajikistan 177and import and importgood approach is to provide a single windowfor obtaining different permits and33.3%Norway Time to 7 Iraq 178exportPanama 8 Afghanistan 1792008authorizations, which reduces the timeIsrael 9 Kazakhstan 180Thailand 10 Kyrgyz Republic 181Note: Rankings are the average of the economy rankings on thedocuments, time and cost required to export and import. SeeData notes for details.Source: Doing Business database.FIGURE 9.4Africa has reformed the mostSource: Doing Business database.spent preparing documents. An efficientbanking system also helps, by speedingthe processing of trade financing instrumentssuch as letters of credit.Cost to exportand importUS$ per 20-foot container,no bribes or tariffs includedNote: See Data notes for details.FIGURE 9.5Top 5 reform features in tradingNumber of reforms easing tradeacross borders(c) The International Bank for Reconstruction and Development / The World Bankby Doing Business report yearUS$ peno bribeNote: See Data noFIGURE 9.5Top 5 reformacross bordeReforms includIntroduced or idata interchanImproved custoIntroduced riskImproved port14%Introduced borNote: A reform maySource: Doing Busin

TRADING ACROSS BORDERS 45Table 9.2Electronic data interchange—the most popular reform feature in 2007/08Introduced or improved electronic datainterchange systemIntroduced or improved risk-based inspectionsImproved procedures at portsReduced number of trade documentsImproved customs administrationIntroduced or improved single windowImplemented border cooperation agreementsSource: Doing Business database.transmitted online. Traders can beginthe clearance process before goods arriveat the port. Because risk-based inspectionsapply, only about 2% of cargo isphysically inspected. It takes only 5 daysfor goods to leave the factory, clear customsand be on a vessel heading to itsdestination.Other countries might take note. Arecent study of 126 economies calculatesthe loss from export delays at around 1%of trade for each extra day. For perishableagricultural products the cost is nearly3% of the volume of trade for each day’sdelay. 2 Some nonagricultural productsare time-sensitive too, such as fashionapparel and consumer electronics.Another study finds that each extrasignature an exporter has to collect reducestrade by 4.2%. For high-end exportsthe reduction is nearly 5%. 3 Hightrade costs constrain participation inglobal trade for many countries, particularlyin Africa. One study finds thatpreferences under the tariff-free regimesfor the U.S. market (under the AfricanGrowth and Opportunity Act) and theEuropean Union (under the Cotonouagreement) are significantly underused. 4Delays and cumbersome proceduresin importing hurt economies too. ManyBotswana, Brazil, Colombia, Dominican Republic,El Salvador, France, India, Kenya, Madagascar,Mali, Mongolia, Morocco, Palau, Philippines,Rwanda, Senegal, Syria, Thailand, UruguayBrazil, Colombia, Dominican Republic, El Salvador,Haiti, Kenya, former Yugoslav Republic ofMacedonia, Madagascar, Mali, Mongolia,Philippines, Rwanda, SenegalBenin, Croatia, Djibouti, Ecuador, Egypt,El Salvador, Eritrea, Kenya, Liberia, Madagascar,Nigeria, UkraineDjibouti, Ecuador, El Salvador, France, Honduras,former Yugoslav Republic of Macedonia, Senegal,Sierra Leone, ThailandBelarus, Botswana, Egypt, Kenya, Liberia, formerYugoslav Republic of Macedonia, Rwanda,Senegal, ThailandEl Salvador, Korea, Madagascar, Mongolia,SenegalBotswana, Maliexports are part of global supply chains.To be part of these chains, producersdepend on timely delivery of importedinputs. Imported materials account fora third of China’s export value for electronicproducts, for example. They accountfor 55% of export value for Ireland,65% for Thailand. 5 Economies thatreduce delays can integrate more rapidlyin global trade.Who reformed in 2007/08?Thirty-four economies made it easier totrade in 2007/08. Making it possible tosubmit customs documents electronicallywas the most popular reform feature,done in 19 economies (table 9.2).Africa had the most reforms in easingtrade. Senegal was the top reformer,easing the administrative requirementsfor trading across borders. One bigchange: linking those involved in theclearance process—customs, customsbrokers, banks, the treasury, traders andseveral government ministries—throughan electronic single-window system.Traders no longer need to visit eachof these entities to obtain the requiredclearances. Instead, they can fill out asingle form. In addition, customs hasimplemented a risk-based inspection regimeand extended its operating scheduleby 4 hours.Reforms to ease trade were extendedto neighboring countries. Senegal signeda border cooperation agreement withMali, harmonizing trade documents betweenthe 2 countries. Once goods arecleared at Dakar, Malian traders need noadditional documents. And the numberof checkpoints between Dakar and Bamakohas dropped from 25 to 4. Tripsthat used to take 7–10 days now takeonly 1 or 2. Recognizing this, Maliantraders increasingly use the port of Dakarrather than Abidjan. Mali also abolisheda requirement for an official escort tothe border for all cargo trucks carryingexports—something that had inevitablymeant big delays.In Madagascar traders can nowsubmit customs declarations and paymentsonline, thanks to the MadagascarCommunity Network (figure 9.3).Sierra Leone abolished the requirementfor an export license for coffee. Rwandaextended the end of customs operatinghours at its borders from 6:00 p.m to10:00 p.m. Now fewer trucks stay at theborder overnight.Botswana licensed more customsbrokers, spurring competition and leadingto lower customs brokerage fees.Liberia cut the customs administrativefee from 3% of the cargo value to 1.5%.Kenya extended ports’ operating scheduleto 24 hours. In addition, postclearanceaudits allow some traders to fasttracktheir cargo for clearance. Nigeriais beginning to reap the rewards fromconcessioning its container terminals toprivate operators: clearing goods at theport of Apapa now takes 2 days less.In Latin America, El Salvador madeit easier to trade for the second year running.It set up a single window betweencustoms, government ministries and taxand social security authorities. That cutthe number of documents traders needto submit by 2. Guatemala reduced theshare of goods that are physically inspectedfrom 54% to 33%, thanks toongoing implementation of its risk man-(c) The International Bank for Reconstruction and Development / The World Bank

46 Doing Business 2009ECDhighcomeECDhighcomeatabase.FIGURE 9.3Madagascar speeds importsTime to import (days)50403020100Documents Port Customs TransportProceduresSource: Doing Business database.Time cut from49 days to 27agementFIGURE 9.2system. Uruguay completed itsRankings on trading across bordersautomated are based on customs 3 subindicators system. Now traderscan All documents send documents required to Document customs preparation, fromtheir by customs own and office. Brazil customs introduced clearance andother agenciestechnical control, portselectronic manifest system, and terminal allowing handling, customsclearance to begin beforeinlandthetransport33.3% 33.3%cargoand handlingarrives. Documents Time toto export exportIn and East import Asia and import Pacific, Korea andThailand carried out the most comprehensivereforms.33.3%Both introducedCost to exportinternet-based and import electronic data interchangesystems and online issuance oftrade documents. US$ per 20-foot container, Traders can submitno bribes or tariffs includedcustoms declarations from anywhere.Note: See Data notes for details.Singapore, already the leader in tradeFIGURE facilitation, 9.5 is going a step further. It isTop upgrading 5 reform its features system to in a trading 3-dimensionalacross borderstrade platform allowing traders to interfacewith government agencies as well asReforms including feature since DB2006 (%)45%local and international businesses.Introduced or improved electronicdata interchange In Indonesia system a single window startedoperating in December 2007 in the port38%of Jakarta. The Philippines introducedImproved customs administrationnew scanners, reducing the level of physicalinspection at the ports. 35% In addition,Introduced traders can risk submit management customs techniques declarationselectronically through value added serviceproviders. In Palau 29% and Tonga traderscan port file procedures customs or declarations infrastructureon aImprovedUSB drive. Customs no longer needs to14%reenter the data, saving time.Introduced border cooperation agreementsIn the Middle East and North Africa,Note: A reform may include several reform features.Source: Doing Business database.20072008Egypt continued to reform. It now allowscustoms clearance on companies’ premises.It also monitors the performance ofborder agencies to enhance service delivery.Djibouti cut the documents requiredto trade from 8 to 5. Saudi Arabia cutport fees by 50%. Morocco is bringing togetherdifferent border agencies througha port community network to speed theclearance of goods.Eastern Europe and Central Asiakept up the pace of reform. Georgiaimplemented a risk management system,reducing the share of merchandiseinspected to 10%. Belarus introducedlegislative changes that cut the maximumtime allowed for customs clearance from10 days to 1. The former Yugoslav Republicof Macedonia purchased 4 mobilescanners, reducing the number of physicalinspections carried out.OECD high-income economies alsocarried out reforms. In France traderscan now submit documents electronically.Fast-track clearance procedureswere also put into place. Belgium introduceda paperless customs clearancesystem. Denmark improved its onlinecustoms system. In Austria it is now possibleto use an electronic letter of credit.Reforms in some countries madethings more complicated. In EquatorialGuinea traders used to take their consignmentsfrom the ports while completingcustoms formalities. This is no longerpossible. In Burkina Faso the thresholdvalue triggering inspections has beenlowered, even though prices are on therise. Now more consignments need to beinspected, slowing the process. The Gambiareinstated compulsory scanning fees.Traders complain that they have to paythe scanning fee even when their cargois not scanned.What are the reform trends?The number of economies implementingnew reforms to facilitate trade hasbeen on the increase globally. In 2005there were 25 reformers. In 2007/08there were 34. Africa increasingly tookthe lead (figure 9.4). In 2005, 5 Africaneconomies reformed. In 2007/08, 11 did.Ghana, Kenya, Mauritius, Rwanda andTanzania reformed in multiple years.In the Middle East and North Africaon average, 4 economies reformed eachyear. In Latin America and the Caribbeanreforms ranged from 3 to 8.Speeding clearanceThe most popular reform feature in facilitatingtrade has been to implementan electronic data interchange system(figure 9.5). Electronic transmission ofdocuments not only speeds the clearanceof goods; it often reduces the possibilitiesfor paying bribes. “There is anold saying—don’t pay me a salary, put mein customs,” remarks a Honduran freightforwarder. That changed with the adventof electronic data processing. But to avoida dual electronic and manual customsclearance process, the new systems mustbe complemented by supporting legislationauthorizing electronic transactions.Economies implementing an electronicdata interchange system saw thetime to clear goods cut by 3 days onaverage. The reform also helps increasepredictability in clearance times. BeforePakistan implemented its electronic system,only 4.3% of goods were clearedwithin a day; for a quarter of the goods,clearance took a week. Now 93% of goodsare cleared within a day. 6Where electronic data interchangesystems are in place, it is easier to applyrisk management to customs clearance,another popular reform. Thirteen economies,including Colombia, Madagascarand Mongolia, have introduced riskbasedinspections alongside electronictransmission of documents. In economiesthat use risk-based inspections,19% of containers are inspected on average;in economies that do not, 53% are.Looking beyond customsWhile customs reform remains most importantto trading across borders, severalother reforms also play a part. Indeed,in the Doing Business sample, customsclearance accounts for less than 20%of the time to export, from the time(c) The International Bank for Reconstruction and Development / The World Bank

FIGURE 9.4Africa has reformed the mostSub-SaharanAfrica(46 economies)Latin America& Caribbean(32 economies)Middle East &North Africa(19 economies)East Asia& Pacific(24 economies)Eastern Europe& Central Asia(28 economies)South Asia(8 economies)OECDhigh income(24 economies)Number of reforms easing tradeby Doing Business report yearDB2006 DB2007 DB2008 DB2009Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.771213142227US$ per 20-foot container,no bribes or tariffs includedNote: See Data notes TRADING for details. ACROSS BORDERS 47FIGURE 9.5Top 5 reform features in tradingacross bordersReforms including feature since DB2006 (%)Introduced or improved electronicdata interchange system38%Improved customs administration35%Introduced risk management techniques29%Improved port procedures or infrastructure14%Introduced border cooperation agreementsNote: A reform may include several reform features.Source: Doing Business database.45%the export contract is concluded to thetime the goods leave the port. Approvalsfrom ministries, health authorities,security agencies, inspection agencies,port authorities, banks and immigrationauthorities account for most delays.Countries increasingly recognize theimportance of a comprehensive approachto trade facilitation. Korea has broughttogether 69 government agencies as wellas private participants through its singlewindowsystem. Senegal has broughttogether 15 agencies. El Salvador haslinked 3 government departments andcontinues to expand this network.Finding inexpensive reformsSome needed trade reforms are expensive,such as building roads or port infrastructure.But much can be done withoutheavy spending. Clarifying the rules isan important start. “Sometimes they demandthis document, and other timesthey don’t. We are at the mercy of theofficials,” says a trader in Uzbekistan.“We had to go back to South Africa toretrieve the right form before we couldget permission for the truck to leave theborder,” complains a clearing agent inBotswana.More publicity, training and regularmeetings with exporters on the clearanceprocess can also make a difference. InJamaica, where such efforts are in place,customs brokers with low error rates arerewarded with access to fast-track clearanceprocedures, while those with higherror rates face more scrutiny. “Because Iwant my goods cleared quickly, I do notaccept all documents sent to me by myclients. I sometimes ask them to bring aclearer invoice,” says Loraine, a customsbroker in Jamaica.Payment of customs duties neednot delay the release of cargo. Why notintroduce a bond or financial guarantee,allowing goods to be released pendingcompletion of the paperwork? Manyeconomies, such as Malaysia, have donejust that.Countries save costs by synchronizingdocuments and procedures at theborder. Thanks to a border cooperationagreement with Sweden and Finland,Norway is estimated to have avoided morethan $9 million a year in costs to customsauthorities and $48 million a year in coststo economic operators. 7In some regions trade is hinderedby bureaucratic hurdles at borders. InAfrica and Central Asia border crossingsaccount for significant delays in trade.But change has begun. South Africa andMozambique are creating a one-stop borderpost at the Lebombo–Ressano Garciacrossing. Indeed, regional approaches totrade facilitation may yield the biggestbenefits in both regions.Notes1. This example is from the World Bank’sDoing Business: Women in Africa (2008a),a collection of case studies on Africanentrepreneurs.2. Djankov, Freund and Pham (forthcoming).3. Sadikov (2007).4. Bureau, Chakir and Gallezot (2007).5. Nordas, Pinali and Geloso-Grosso (2006).6. Ahmad (2008).7. WTO (2005).(c) The International Bank for Reconstruction and Development / The World Bank

48 Doing Business 2009Table 9.3Who makes exporting easy—and who does not?Documents (number)FewestMostFrance 2 Namibia 11Estonia 3 Mauritania 11Panama 3 Burkina Faso 11Canada 3 Congo, Rep. 11Micronesia 3 Kazakhstan 11Singapore 4 Malawi 12Hong Kong, China 4 Angola 12Denmark 4 Afghanistan 12Finland 4 Fiji 13Sweden 4 Kyrgyz Republic 13Time (days)FastestSlowestSingapore 5 Central African Republic 57Denmark 5 Niger 59Estonia 5 Kyrgyz Republic 64Hong Kong, China 6 Angola 68Netherlands 6 Afghanistan 74United States 6 Chad 78Luxembourg 6 Uzbekistan 80Norway 7 Tajikistan 82Germany 7 Kazakhstan 89Ireland 7 Iraq 102Cost (US$ per container)LeastMostMalaysia 450 Kazakhstan 3,005Singapore 456 Azerbaijan 3,075China 460 Uganda 3,090Finland 495 Uzbekistan 3,100Pakistan 611 Tajikistan 3,150United Arab Emirates 618 Rwanda 3,275Hong Kong, China 625 Niger 3,545Thailand 625 Iraq 3,900Brunei 630 Central African Republic 5,121Tonga 650 Chad 5,367Who makes importing easy—and who does not?Documents (number)FewestMostFrance 2 Burkina Faso 11Denmark 3 Afghanistan 11Sweden 3 Congo, Rep. 12Thailand 3 Fiji 13Singapore 4 Russian Federation 13Hong Kong, China 4 Eritrea 13Estonia 4 Kazakhstan 13Norway 4 Kyrgyz Republic 13Panama 4 Azerbaijan 14Israel 4 Central African Republic 18Time (days)FastestSlowestSingapore 3 Venezuela 71Hong Kong, China 5 Burundi 71Denmark 5 Zimbabwe 73Estonia 5 Kyrgyz Republic 75United States 5 Kazakhstan 76Sweden 6 Afghanistan 77Netherlands 6 Tajikistan 83Luxembourg 6 Iraq 101Norway 7 Chad 102Germany 7 Uzbekistan 104Cost (US$ per container)LeastMostSingapore 439 Niger 3,545Malaysia 450 Burkina Faso 3,630China 545 Burundi 3,705Finland 575 Iraq 3,900São Tomé and Principe 577 Zimbabwe 3,999United Arab Emirates 587 Tajikistan 4,550Israel 605 Uzbekistan 4,600Fiji 630 Rwanda 5,070Hong Kong, China 633 Central African Republic 5,074Qatar 657 Chad 6,020Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

OverviewStarting a businessDealing with construction permitsEmploying workersRegistering propertyGetting creditProtecting investorsPaying taxesTrading across bordersEnforcingcontractsClosing a businessFIGURE 10.1Top 10 reformers in enforcing contractsAverage improvement200720083% 6%ProceduresTimeENFORCING CONTRACTS 491. Mozambique2. Macedonia, former Yugoslav Republic of3. Bulgaria4. Romania5. Armenia6. China7. Bhutan8. Belgium9. Azerbaijan10. PortugalSource: Doing Business database.Tan, a litigation lawyer in Singapore,does not mind waiting at the supremecourt until his case is called. A computerscreen shows the expected wait time forFIGURE 10.1each case. And a text message on his cellTop 10 reformers in enforcing contractsphone will alert him when the judge isAverage improvementready to hear his. Meanwhile, he reviews2007his oral arguments and enjoys a nicelunch at Academy 3% Bistro, 6% located in thesupreme court building.2008 Tan and his clients can afford torelax, because they know their cases willbe resolved expeditiously. In Singaporeit takes only 150 days to resolve a commercialdispute—faster than anywhereelse in the world.Not everyone bringing a commercialdispute to court can expect simi-Procedures Timelar efficiency. One common obstacle todoing business in developing countriesis the weakness of courts. The problem isespecially severe in Africa, where 80% ofthe people turn to informal institutionswhen seeking justice. 1FIGURE Justice 10.5 delayed is often justice denied.And in many countries only therich Time to can enforce afford a contract to (days) go to court. For theMozambiquerest, justice is out of reach. In the absence1,000of efficient 2004courts, firms undertake fewer1. Mozambiqueinvestments and business transactions.800 2. Macedonia, former Yugoslav Republic ofAnd they prefer to involve Nigeria3. Bulgariaonly a small2008group 4. Romania of people who know each otherfrom 600 5. Armenia previous dealings.6. Inefficient China courts impose big costs.A recent 7. Bhutan study on Eastern Europe Mauritania400findsthat 8. Belgium in countries with slower courts,9. Azerbaijanfirms on average have less bank financingfor new investment. Reforms in otherSource: 10. Doing Portugal Business database.areas, such as creditors’ rights, help increaseFIGURE Source: Doing 10.3 bank Business lending database. only if contracts canbe enforced before the courts. 2 A secondstudy, on 41 developing countries, findsthat for each 10% improvement DB2006 in theEastern efficiency Europe of commercial dispute resolution,economies) the informal sector’s share in overall& Central Asia(28economic activity falls by 2.3%. 3Sub-SaharanAfricaCourts serve business best when(46 economies)they are fast, affordable and fair. Worldwide,only 35% of businesses coveredOECDhigh income(24 by economies) the World Bank Democratic Enterprise Surveysbelieve that the courtsRepublicin their countryLatin Americaof Congo& are Caribbean fair, impartial and uncorrupt. 4(32Ghanaeconomies)Doing Business measures Burkina the efficiencyAsiaof the judicial system in resolvingEast Faso& Pacific7(24 a commercialRwandaeconomies) dispute. It looks at the time,cost and procedures to enforce a contractSouth Asiathrough the courts 1 (figure 10.2).Economies that score well on theease of enforcing contracts keep courtsefficient by introducing case management,strict procedural time limitsand specialized commercial courts ore-courts; by streamlining appeals; and bymaking enforcement of judgments fasterand cheaper (table 10.1).In Singapore court documents canbe filed electronically,Democraticand each case ismonitored from the Republic moment the actionof Congois filed until the moment it is finallydecided. Ghana Using case managementBurkinaalsomakes it possible to measure the Faso performanceof Rwanda judges. The right to appealto the high court exists only for casesabove S$50,000 ($35,500). Cases belowthis threshold need prior leave to go toappeal.Hong Kong (China) speeds the enforcementof judgments by allowing theprocess to start based on the essentialsSpecialized commercial courts in Africa help to reduce delays in enforcing contractsFew reforms in the Middle East & North Africa and in South AsiaNumber of reforms easing contract enforcementby Doing Business report yearTable 10.1DB2005 DB2007 DB2008 DB2009FIGURE 10.2Where is enforcing contracts easy—and26where not?Rankings on enforcing contractsFIGURE 10.5are based on 3 subindicatorsSpecialized Easiest commercial Rank Most courts difficult in Africa Rank help to reduce delays in enforcing contractsDays to resolveAttorney, court andTime to enforce a contract (days)Hong Kong, China 1 Cameroon 172commercial 15 sale dispute enforcement costsMozambiqueLuxembourg 2 Congo, Dem. Rep. 173before courtsas % of claim value1,000Iceland 2004 3 Syria 17413Latvia 4 Benin 17533.3% 33.3%Finland 8005 Honduras Nigeria 1762008Time CostUnited States 6 Suriname 17711Norway 7 Bangladesh 178600Korea 8 Angola 17933.3%ProceduresGermany 9 India 180MauritaniaFrance 40010 Timor-Leste 181Note: Rankings are the average of the economy rankings onSteps to file claim, obtain and enforce judgmentthe procedures, time and cost to resolve a commercial dispute(8 economies)through Source: Doing the courts. Business See database. Data notes for details.Note: See Data notes for details.Source: Doing Business database.Middle East &North Africa(19 economies)1FIGURE 10.3FIGURE 10.4Few reforms in the Middle East & North Africa and in South AsiaTop 5 reform features in enforcing(c) The International Bank Note: A reform Reconstruction is counted as 1 reform and per Development reforming economy / The per year. WorldNumber of reforms easing contract enforcementcontractsBankFIGURRankare bDayscommbeforStepsNote: SeFIGURETop 5contraReformIncreasEstablisMade eor moreStream98%SimplifiNote: A reSource: Do

50 Doing Business 2009Table 10.2Where is enforcing contracts the most efficient—and where the least?Procedures (number of steps)FewestIreland 20 Guinea 50Singapore 21 Kuwait 50Hong Kong, China 24 United Arab Emirates 50Rwanda 24 Belize 51Austria 25 Iraq 51Belgium 25 Oman 51Netherlands 25 Timor-Leste 51Iceland 26 Sudan 53Luxembourg 26 Syria 55Czech Republic 27 Brunei 58Time (days)Fastestof the court decision. Fully motivated,written court decisions are not needed.The 10 economies with the fastest averagetimes to enforce a contract tend tohave specialized commercial courts orspecialized commercial sections withinexisting courts and limits on the numberand length of adjournments once a casehas started.Reducing entry barriers in the marketfor legal services helps. Allowingwomen to enter the legal profession,for example, can increase competitionamong lawyers and reduce attorneys’MostSlowestSingapore 150 Sri Lanka 1,318Kyrgyz Republic 177 Trinidad and Tobago 1,340Uzbekistan 195 Colombia 1,346Lithuania 210 Slovenia 1,350Hong Kong, China 211 India 1,420New Zealand 216 Bangladesh 1,442Belarus 225 Guatemala 1,459Bhutan 225 Afghanistan 1,642Kazakhstan 230 Suriname 1,715Korea 230 Timor-Leste 1,800Cost (% of claim)LeastBhutan 0.1 Comoros 89.4Iceland 6.2 Cambodia 102.7Luxembourg 8.8 Burkina Faso 107.4United States 9.4 Papua New Guinea 110.3Norway 9.9 Indonesia 122.7Korea 10.3 Malawi 142.4Finland 10.4 Mozambique 142.5China 11.1 Sierra Leone 149.5Poland 12.0 Congo, Dem. Rep. 151.8Hungary 13.0 Timor-Leste 163.2Source: Doing Business database.Mostfees. Saudi Arabia saw its first female lawgraduates—170 of them—in June 2008.The Saudi government is sending thetop 4 to graduate programs abroad, toprepare them to return as the country’sfirst female law professors. Some countriesstill prohibit women from servingas judges. Others have recently startedallowing women on the bench. Bahrain,which did so in 2003, now has 3 femalejudges. And the first female federaljudge was appointed in Abu Dhabi in lateMarch 2008.Who reformed in 2007/08?Twelve economies reformed contract enforcementin 2007/08 (table 10.3). Thereforms reduced the time, cost or numberof steps in court proceedings by introducingspecialized commercial courtsand case management, simplifying rulesfor small cases, streamlining appealsand making enforcement of judgmentsmore efficient.Most reforms took place in EasternEurope and Central Asia—in Armenia,Azerbaijan, Bulgaria, the formerYugoslav Republic of Macedonia andRomania. Among OECD high-incomeeconomies, Austria, Belgium and Portugalreformed. In Africa, Mozambiqueand Rwanda did. In South Asia, Bhutanwas the only economy that improved itscourts in 2007/08. In East Asia, Chinawas the only reformer. The Middle Eastand North Africa had no reforms.Mozambique, the top reformer inenforcing contracts, reduced the averagetime to resolve a commercial disputefrom 1,010 days to 730. The newly establishedcommercial courts have started toproduce results. Since March 2008 thecountry has also gained 22 new judges—a 10% increase. Besides hiring morejudges, Mozambique introduced performancemeasures for them. And courtadministrators now take care of administrativetasks that judges used to handle,such as paying creditors after a publicauction of a debtor’s assets.In the former Yugoslav Republic ofMacedonia, the runner-up reformer, acommercial division of the Skopje civilcourt started operating in November2007, after initial difficulties with allocatingjudges were resolved. Startingin January 2008, all cases have beenelectronically recorded. The Skopje commercialdivision will soon have 15 additionalcomputers to begin electronicregistration of cases.In Rwanda specialized commercialcourts started operating in May 2008.Three lower commercial courts—in Kigaliand in the Northern and SouthernProvinces—cover commercial disputes(c) The International Bank for Reconstruction and Development / The World Bank

ENFORCING CONTRACTS 51Table 10.3Increasing procedural efficiency—the most popular reform feature in 2007/08Increased procedural efficiency at main trialcourtIntroduced or expanded specializedcommercial courtsMade enforcement of judgment more efficientSimplified rules for small claimsEstablished e-courtsStreamlined appealsSource: Doing Business database.with a value below about $37,000. Afourth commercial court, attached tothe high court, handles cases above thatvalue in addition to appeals of decisionsfrom the 3 lower courts. Commercialcourts not only resolve disputes faster;they also bring the needed expertise tocommercial cases.Bulgaria shortened trial times byrequiring judges to refuse incompletecourt filings rather than allow multipleextensions. To ensure compliance withdeadlines, disciplinary sanctions nowapply to judges who systematically violatethem. Bulgaria also reformed its appealsprocess. Appeals are now possibleonly on the basis of newly discoveredfacts and only against judgments exceedinglev 1,000 (about $800). And final appealsbefore the supreme court have beenlimited to substantive issues.Romania simplified the enforcementof judgments by eliminating theneed for an enforcement order and allowingthe attachment of credit balancesand accounts receivable. The reform reducedthe time to enforce a judgment bya month, from 120 days to 95.In Armenia procedural rules thatbecame effective in January 2008 introduceda new principle: all court decisionsbecome enforceable 1 month afterbeing issued. In addition, a May 2007 lawestablished specialized criminal and administrativejurisdictions and a new civilcourt that will deal with the financiallymost important cases.Azerbaijan reduced the average timeto enforce a contract from 267 days to237 by establishing a second specializedArmenia, Belgium, Bulgaria, former YugoslavRepublic of Macedonia, MozambiqueAzerbaijan, former Yugoslav Republic ofMacedonia, RwandaChina, RomaniaBhutan, PortugalAustriaBulgariacommercial court in Baku and increasingthe number of commercial court judgesfrom 5 to 9.In Western Europe, Austria madeelectronic filing mandatory in the civilcourts. All filings from lawyers in civillitigation and enforcement proceedingsnow go through an electronic data channeloperated by the Ministry of Justice.And judgments are delivered by e-mailrather than by the old hard-copy notificationprocess.Belgium adopted a law in 2007 tospeed court procedures. The law introduceda mandatory procedural calendarthat includes binding time limits tosubmit written pleadings. The agendais fixed by the parties or, if they failto agree, by the judge. If judges fail torender a judgment within a month afterhearing a case, they are subject to disciplinarysanctions. A separate law aimsto encourage experts to produce theirreports more quickly by having the courtcontrol the payment of their fees.Portugal expanded the scope of itssimplified proceedings to include allcases with a value up to €30,000.China adopted a new set of proceduralrules. The focus was on speedingthe enforcement of judgments. In EastAsia enforcement accounts for 34% onaverage of the time needed to resolve acommercial dispute—the largest shareamong all regions. In China, enforcing ajudgment takes up almost half the totaltime to resolve a commercial dispute.To reduce the time for enforcement,China’s new rules require parties to disclosetheir assets at the beginning of thecourt procedure. Those refusing to doso may be fined. Enforcement officerscan take measures to prevent partiesfrom concealing or transferring theirassets during or immediately after courtproceedings. And courts can prohibitparties from leaving the country if theyare suspected of trying to escape theenforcement of a decision.In South Asia, Bhutan transferred allland disputes—which account for about30% of cases before the Thimphu districtcourt—to a specialized land commission.The measure freed up more of the court’stime to handle commercial cases. The result:the Thimphu district court reducedthe average time to resolve commercialdisputes from 275 days to 225.What are the reform trends?Reformers considering ways to improvethe regulatory environment for businessesoften shy away from tacklingcourt reforms. This is not surprising. Thesuccess rate of court reforms is low: onaverage, only 1 in 4 attempted reformssucceed in reducing costs and delays.Even successful reforms often take yearsto produce visible results.As a general rule, economies thatrank high on the ease of enforcing contractscontinually reform their courtsto adjust to changing business realities.Denmark is an example. In 2006 it introducedspecial rules for cases below about$8,600. That reduced the number of casesbefore the general courts in Copenhagenby 38%. Reformers did not stop there.In March 2008 a new law introducedmediation after a successful pilot showedthat two-thirds of all cases referred tomediation in 2003–05 resulted in anamicable settlement. The message: stayfocused on improvement, even if you arealready doing well.Introducing commercial courtsin AfricaThe most popular reform feature inAfrica over the past 5 years has beenintroducing specialized commercialcourts or commercial sections within(c) The International Bank for Reconstruction and Development / The World Bank

400Source: Doing Business database.52 Doing Business 2009FIGURE 10.3Few reforms in the Middle East & North Africa and in South AsiaNumber of reforms easing contract enforcementby Doing Business report yearEastern Europe& Central Asia(28 economies)DB2005 DB2006 DB2007 DB2008 DB200926Steps to file claim, obtain and enforce judgmentNote: See Data notes for details.FIGURE 10.4Top 5 reform features in enforcingcontractsReforms including feature since DB2005 (%)Increased procedural efficiency43%Sub-SaharanAfrica(46 economies)1518%Established or expanded commercial courtsOECDhigh income(24 economies)Latin America& Caribbean(32 economies)East Asia& Pacific(24 economies)South Asia(8 economies)Middle East &North Africa(19 economies)11Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.existing courts. Some African countrieshave a longer track record with specializedcourts or divisions—includingKenya, Madagascar, Tanzania, Ugandaand Zambia.In 7 African countries that introducedcommercial courts or sectionsin the past 5 years—Burkina Faso, theDemocratic Republic of Congo, Ghana,Mauritania, Mozambique, Nigeria andRwanda—the average time to resolve acommercial dispute dropped by about19%, from 604 days to 492 (figure 10.5).Because judges must be hired andtrained, rules adjusted and funding ensured,achieving such reductions in timeusually takes years. In Ghana, for example,a commercial division began operatingin its high court in March 2005.Doing Business 2008 records a drop intime from 552 days to 487—more than2 years later.Specialized commercial courts areoften criticized because they deal onlywith the financially most important cases.Those in Tanzania, for example, acceptonly cases with a value 66 times incomeper capita. In Zambia it is 15 times incomeper capita. Minimum thresholds can bejustified as a way to avoid overloading711FIGURE 10.1Top 10 reformers in enforcing contractsAverage improvementnewly 2007 established specialized courts. Buta balance must 3% be struck 6% between accessto justice and a reasonable caseload forthe2008new courts. A pragmatic approach isto lower minimum thresholds as courtsare gradually able to accept more cases.This is better than having courts inundatedwith cases from the start.Moving to oral proceedingsin Latin Procedures America TimeCountries in Latin America have spedcriminal cases by using oral proceedingsrather than an exchange of writtendocuments. Argentina and Chile startedthis trend in the 1990s. Colombia, Guatemala,Honduras and Mexico are nowworking 1. Mozambique on similar reforms. And Colombia2. plans Macedonia, to extend former oral Yugoslav proceedings Republic of tocommercial 3. Bulgariacases over the next 4 years.4. RomaniaIn El Salvador the legislature is close5. Armeniato adopting a bill to make court cases,6. Chinaincluding 7. Bhutan commercial cases, oral. Noweverything 8. Belgium takes place in writing between9. Azerbaijan the parties, with little intervention10. from Portugal the judge. In the future therewill be a preliminary hearing duringwhich the judge will first try to reconcileSource: Doing Business database.the parties. Failing that, the judge willdetermine the facts and evidence to bepresented in the case. At a second andfinal hearing the parties, witnesses andFIGURE 10.5Specialized commercial courts in Africa help to reduce delays in enforcing contractsTime to enforce a contract (days)Mozambique1,0002004800600400132008Source: Doing Business database.NigeriaMauritaniaMade enforcement of judgment cheaperor more efficientNote: A reform may include several reform features.Source: Doing Business database.Ghana9%Streamlined appeals8%12%Simplified rules for small claimsRwandaDemocraticRepublicof CongoBurkinaFasoFIGURE 10.2Rankings oare based oDays to resolcommercial sbefore courtsSteps to file cNote: See Data noFIGURE 10.3(c) The International Few reforms Bank in Reconstruction the Middle East and Development & North Africa / The and World in South Bank AsiaFIGURE 10.4Top 5 reform

ENFORCING CONTRACTS 53experts will be questioned. Under thenew rules the judge must issue a writtenjudgment within 15 days after the secondhearing.While oral proceedings are a recenttrend in Latin America, countriesin other regions have a longer historywith them. Take Luxembourg, whichranks second on the ease of enforcingcontracts. There, parties do not exchangelong, written pleadings in commercialcases. Instead, they exchange only thewritten evidence they intend to rely onduring oral arguments before the judge.This saves several months.Imposing strict deadlinesIn 1995 the “arbitrazh courts” becameresponsible for dealing with commercialdisputes in the Russian Federation. In2002, to make proceedings faster, theRussian Federation revised its commercialprocedural code. Its most significantinnovation was to introduce strictmandatory time limits: 2 months fora full hearing, 1 month for acceleratedprocedures.Most Central Asian countries copiedthe Russian procedural rules, includingthe strict deadlines. Judges are heldaccountable for respecting the deadlines,with those who do best standing betterchances for promotion. Not surprisingly,of the 10 economies with the fastest averagetimes to enforce a contract, half arein Eastern Europe and Central Asia.Notes1. Wojkowska (2006).2. Safavian and Sharma (2007).3. Dabla-Norris, Gradstein and Inchauste(2008).4. World Bank Enterprise Surveys (http://www.enterprisesurveys.org).(c) The International Bank for Reconstruction and Development / The World Bank

54 Doing Business 2009OverviewStarting a businessDealing with construction permitsEmploying workersRegistering propertyGetting creditProtecting investorsPaying taxesTrading across bordersEnforcing contractsClosing abusinessFIGURE 11.1Higher recovery rates associated with more access to creditPrivate credit as % of GDP120100806040200LowestHighestEconomies ranked by recovery rate, quintilesPercentage of firms perceivingaccess to credit as an obstacleLowestHighestEconomies ranked by recovery rate, quintilesNote: Relationships are significant at the 1% level and remain significant when controlling for income per capita.Source: Doing Business database; World Bank, World Development Indicators database; World Bank Enterprise Surveys.403020100Carlos, the owner of a large ColombianFIGUREvency11.3laws are most effective, creditors—manufacturing firm, got bad news: his confident that they will be able to collectRecovery rate (cents on the dollar)main customer had just entered bankruptcy.Carlos feared that it might take The benefits YES of efficient bankruptcyon50loans—are more likely to lend. 1years to recover the company’s loan— regulations45are particularly evident whenand that his business could suffer harm. comparing rich economies. Recent studiesFIGURE But 11.1 there is good news too. Colombia’srecovery new insolvency rates associated law came with into more access to creditors credit are 92% of the value of the YES40in Europe find that actual returnsHighereffect at the end of 2007, streamlining Percentage loan in the of United firms perceiving35Kingdom, 80% in thePrivate credit as % of GDPaccess to credit as an obstaclebankruptcy procedures. Before, a debtor Netherlands, 67% NO in Germany and 56%120 could object to every claim from any in 4030France. 2 Why the big spread? In part100 creditor, greatly delaying the court process.because it takes only a year to finish the30 Are there specialized80Now all objections must be resolved insolvency bankruptcy process courts? in London, 13 monthsin one court hearing. The new law also in Amsterdam and 15 months in Berlin,60Source: 20 Doing Business database.tightens procedural time limits. And it but almost 2 years in Paris, according to40gives creditors more power to influence Doing10Business data.the 20 proceedings, such as allowing them Good bankruptcy laws do 3 mainto remove and replace the liquidator.FIGUREthings.11.400 They seek to rehabilitate viableEfficient Lowest bankruptcy regulations Highest businesses Lowest and liquidate unviable Highest ones.improve Economies access ranked to by recovery credit. rate, Where quintiles insol-They Economies aim to ranked maximize by recovery the value rate, quintiles receivedNote: Relationships are significant at the 1% level and remain significant when controlling for incomeTable 11.1by creditors, shareholders, DB2005 per capita.employeesSource: Doing Business database; World Bank, World Development Indicators database; World Bank Enterprise Surveys.Eastern EuropeWhere is it easy to close a business—& and Central other Asia stakeholders by requiring thatand where not?FIGURE 11.3(28 businesses economies) be turned around, sold asHigher recovery Recovery rates in economies Recovery with specializedEasiestrate Most difficult rategoing concerns courts and or trusteesOECDliquidated—whicheverincome generates the greatest total value.Recovery rate (cents on the dollar)highJapan 5092.5 Liberia 8.3 (24 economies)And they establish a system for clearlySingapore YES 91.3 Suriname 8.1EastNorway 89.0 Mauritania 6.7 ranking Asia creditors. Countries with laws45& Pacific6Canada 88.7 Venezuela 6.0 (24 meeting economies) these 3 objectives achieve aFinland 87.3 Congo, Dem. Rep. 5.4 Latin higher America recovery rate than countries withoutCaribbean such laws.640YESIreland 86.6 Philippines 4.4 &YESDenmark 86.5 Micronesia 3.5(32 economies)Doing Business studies the time, costBelgium 35NO86.3 Haiti 2.7 Sub-Saharanand outcomes of bankruptcyNOproceedingsUnited Kingdom 84.2 NO Zimbabwe 0.0 Africa3(46 involving economies) domestic entities. Speed, lowNetherlands 3082.7 Central African 0.0RepublicMiddle cost and East continuation &of viable businessAre there specializedAre there minimum NorthNote: Rankings are based on the recovery rate: how many cents operations Africa characterize Can 2 creditors the top-performingeconomies. In these economies busi-bankruptcy courts?qualifications for (19 trustees? economies) appoint trustees?on the dollar claimants (creditors, tax authorities and employees)Source: recover Doing from the Business insolvent database. firm. See Data notes for details.Source: Doing Business database.South nesses Asia are more likely to be sold or reorganizedas a going concern rather thanHigher recovery rates in economies with specialized courts and trusteesliquidated through piecemeal sales. Andmost allow creditors significant inputinto the appointment of administratorsand require special qualifications fortrustees (figure 11.3).In Canada, Ireland, YES Japan, Norwayand Singapore foreclosure, reorganiza-or liquidation is completed withinNOtionNOa year (table 11.1). Canada and Irelandhave specialized bankruptcy courts andstatutory time limits. They also limit proceduraltrustees? appeals. appoint Denmark trustees? introducedAre there minimumCan creditorsqualifications fora “floating charge” in 2006 to allow securedcreditors to take security over anentire business. This increases the likelihoodthat a viable business will be soldas a going concern. In Colombia, Kuwait,Most reforms in Eastern Europe & Central Asia and rich economiesNorway and Singapore it costs only aboutNumber of reforms making it easier to close a businessby Doing Business 1% of report the yearbankrupt estate’s value to resolveinsolvency DB2008 (table DB2009 DB2006 DB2007 11.2).(8 economies)1FIGURE 11.2Rankings on closing a businessare based on 1 subindicator19Function of time, cost and other factorssuch as lending rate and the likelihoodof the company continuingto operate100%RecoveryrateNote: Time and cost do not count separately for the ranking.See Data notes for details.21FIGURE 11.2Rankings onare based oFunction of timsuch as lendingof the companyto operateNote: Time and coSee Data notes foFIGURE 11.5Top 5 reformclosing a busReforms includGranted powerIntroduced or tand streamlineEstablished or preorganizationDeveloped the7%Established a fiNote: A reform maySource: Doing BusinFIGURE 11.4Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World BankFIGURE 11.5

LowestHighestEconomies ranked by recovery rate, quintilesLowestHighestEconomies ranked by recovery rate, quintilesNote: Relationships are significant at the 1% level and remain significant when controlling for income per capita.Source: Doing Business database; World Bank, World Development Indicators database; World Bank Enterprise Surveys.FIGURE 11.3Higher recovery rates in economies with specialized courts and trusteesRecovery rate (cents on the dollar)50YES45403530NOAre there specializedbankruptcy courts?Source: Doing Business database.YESWho reformed in 2007/08?Four Eastern European economiesFIGURE 11.4joined Poland in streamlining bankruptcyprocedures. Latvia passed a newMost reforms in Eastern Europe & Central Asia and rich economiesPoland was the top reformer in closingNumber of reforms making it easier to close a businessa business in 2007/08 (table 11.3). by Its Doing Business insolvency report yearlaw in November 2007. NowLaw on Trustee Licensing DB2005 took DB2006 effect on DB2007 financially DB2008 distressed DB2009 companies canEastern Europe& October Central Asia 10, 2007. The new law tightened choose to continue operating by pursuingreorganization. Like Poland, Latvia21(28 professional economies) requirements for administratorsto ensure they have the skills and also tightened the qualification stan-OECDhigh education incomeneeded to oversee bankruptcy dards for bankruptcy administrators. 19 So(24 economies)proceedings. Obtaining a trustee’s licenseAsia now requires passing an exam in Republic’s Insolvency Act took effect ondid Bosnia and Herzegovina. The CzechEast& Pacific6(24 economics, economies) law, finance and management.America The reform also limits trustees’ organization as the preferred method forJanuary 1, 2008. The law introduces re-Latin& pay Caribbean to 3% of the bankrupt estate’s 6value,resolving insolvency, mandates stricter(32 economies)down from 5%.deadlines, establishes an electronic insolvencyregister and sets new qualificationSub-SaharanAfricaThree economies in Latin America3(46 and economies) the Caribbean rank close behind standards for trustees.Middle Poland East & top reformers. Colombia, the Bulgaria passed 2 laws: the CivilNorth runner-up Africa reformer,2introduced 2 new Procedure Code and the Law for the(19 economies)insolvency proceedings: a reorganization Commercial Registry. The first specifiesSouth procedure Asia to restructure insolvent companiesand a mandatory liquidation proels:first before the court of appeals andthat appeals will now take place at 2 lev-(8 economies)1cedure. Note: A reform Its is counted new insolvency as 1 reform per reforming law tightenseconomy per year. then before the supreme court. Bulgaria’sSource: Doing Business database.time limits for negotiating reorganization supreme court will be the final arbiter,agreements. Before, the term allowed was with the discretion to decide whether6 months, with a possible extension of 8 or not to hear a case. Before, court decisionscould be appealed only before themonths. The new law limits the term to 4months, and the extension to 2.supreme court—which usually sent casesMexico amended its bankruptcy back to the district court—resulting inlaw. Now debtors and creditors may long delays. Another first for Bulgaria:enter into a reorganization agreement major decisions and rulings of the bankruptcycourt are posted on the commer-at any stage of the insolvency procedure.St. Vincent and the Grenadines enacted cial registry’s website.a bankruptcy law in 2007. The law is the In East Asia and Pacific, Hong Kongcountry’s first set of rules regulating the (China) and Cambodia were the onlybankruptcy of private enterprises since reformers. Hong Kong (China) issued theits independence.Bankruptcy Amendment Rules for 2007,NOAre there minimumqualifications for trustees?YESNOCan creditorsappoint trustees?CLOSING A BUSINESs 55FIGURE 11.2strengthening trustees’ role and powers.Rankings on closing a businessCambodia are based adopted on 1 subindicator the 2007 BankruptcyLaw, its first regulating the bankruptcy ofFunction of time, cost and other factorsprivate such as lending enterprises. rate and the The likelihood law introduces aof the company continuingreorganization procedure to restructureto operateinsolvent companies.Five OECD high-income economiesjoined the list of 100% reformers in 2007/08.Finland streamlined Recovery court-supervisedreorganization. Now ratea simple majorityof creditors can approve simplified reorganizationplans; before, unanimousconsent was required. Finland revisedNote: Time and cost do not count separately for the ranking.itsSeeRestructuringData notes for details.of Enterprises Act,accelerating hearings and making theentire process more flexible. Germanyamended its insolvency code to makeit FIGURE easier 11.5to maintain a debtor’s businessas Top a 5 going reform concern. features The in new law allowsthe closing insolvency a business court to suspend enforcementactions against assets essential toReforms including feature since DB2005 (%)continuing the business.29%Granted Portugal power to cut creditors the formality of publishinginsolvency notices in newspapers.28%It also introduced a fast-track procedureIntroduced or tightened statutory time limitsand streamlined appealsTable 11.2Where is bankruptcy the most 22% efficient—and Established where or the promoted least?reorganization procedureTime (years)16%FastestSlowestDeveloped the trustee professionIreland 0.4 Ecuador 5.3Japan 7% 0.6 Indonesia 5.5CanadaEstablished a first0.8bankruptcyHaitilaw5.7Singapore 0.8 Philippines 5.7Note: A reform may include several reform features.Belgium 0.9 Belarus 5.8Source: Doing Business database.Finland 0.9 Angola 6.2Norway 0.9 Czech Republic 6.5Australia 1.0 Maldives 6.7Belize 1.0 Mauritania 8.0Iceland 1.0 India 10.0Cost (% of estate)LeastMostColombia 1.0 Micronesia 38.0Kuwait 1.0 Philippines 38.0Norway 1.0 Samoa 38.0Singapore 1.0 Solomon Islands 38.0Bahamas, The 3.5 Vanuatu 38.0Belgium 3.5 Venezuela 38.0Brunei 3.5 Sierra Leone 42.0Canada 3.5 Ukraine 42.0Finland 3.5 Liberia 42.5Georgia 3.5 Central AfricanRepublic76.0Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

FIGURE What 11.3are the reform trends? Expanding creditors’ rightsHigher recovery rates in economies with specialized Expanding courts creditors’ and trustees rights has been theReform Recovery rate continues(cents theevendollar)in the jurisdictionswith the best performance. Doing 5 years (figure 11.5). Seventeen econo-most popular reform feature over the past50YESBusiness has recorded 58 reforms making mies have empowered creditors: China,45it easier to close a business in the past 5 the Czech Republic, Denmark, Finland,years. Most focused on expanding creditors’rights and speeding bankruptcy YES Poland, Portugal, Puerto Rico, Roma-France, Hungary, Indonesia, Italy, Korea,40YESproceedings in the court.nia, Serbia, Slovakia, the United States35NOEconomies in Eastern Europe and and Vietnam. Giving creditors NO more sayNOCentral Asia have had the most reforms in the process speeds the resolution of30making it easier to close a business in bankruptcy and is likely to result in thethe past Are there 5 years, specialized especially in speeding Are there minimum continuation of the Can business. creditors Allowingbankruptcy courts?qualifications for trustees?appoint trustees?bankruptcy proceedings (figure 11.4). creditors a greater role in decision makingincreases the recovery rate.Source: Doing Business database.High-income OECD economies followclose behind, focusing more on empow-Reforms expanding the powers ofFIGURE 11.156 Doing Business 2009Higher recovery rates associated with more access to creditPercentage of firms perceivingTable 11.3Private credit as % of GDPaccess as an obstacleering creditors.Establishing or promoting reorganization procedures—a 120 popular reform feature in402007/08Elsewhere in the world reform has100been moving more slowly. The 10 reforms30Established or promoted reorganization procedure Colombia, Czech Republic, Finland, Germany, in Latin America and the Caribbean,80Greece, Latvia, Mexico, New ZealandSub-Saharan Africa and South Asia have6020Developed the trustee professionBosnia and Herzegovina, Czech Republic, Hong ranged from introducing stricter deadlinesto establishing specialized bank-Kong 40 (China), Latvia, Poland10Introduced or tightened time limits and streamlined Bulgaria, 20 Colombia, Portugal, Saudi Arabia ruptcy courts. In 2006 Burundi enactedprocedural appeals0its 0 first bankruptcy law, setting clear timeEstablished a first bankruptcy lawCambodia, Lowest St. Vincent and the Grenadines Highest limits Lowest for procedures. In the Middle Highest EastGranted priority to secured creditorsCzechEconomiesRepublicranked by recovery rate, quintiles and Economies North ranked Africa by only recovery Tunisia rate, and quintiles SaudiSource: Doing Business database.Note: Relationships are significant at the 1% level and remain significantArabiawhen controllinghave reformed.income per capita.Source: Doing Business database; World Bank, World Development Indicators database; World Bank Enterprise Surveys.for debtors with less than €5,000 inassets and new procedures to acceleratepayments to insolvency administrators.In addition, Portugal limited proceduralappeals by unifying its appealsprocess and raising the value thresholdfor claims heard in the courts of first andsecond instance. In the future, appealsof appeals court decisions that confirmfirst-instance decisions will be possibleonly in limited circumstances. This isexpected to cut the number of appealsbefore the supreme court.New Zealand introduced a reorganizationprocedure similar to the onein Australia. The aim is to provide analternative to liquidation and receivershipand maximize a company’s chancesof continuing as a going concern. Greecethoroughly revised its bankruptcy systemto maximize creditors’ recovery of debt.A new law aims to reorganize financiallydistressed companies, preserve thebusiness assets, treat creditors equallyand prevent piecemeal sale. This law isexpected to lead to a boom in restructuringsand, together with a better earlydetection system, allow more companiesto continue as going concerns.Saudi Arabia was the only reformerin the Middle East and North Africa. ItsMinistry of Commerce introduced strictdeadlines for bankruptcy procedures.Auctions of debtors’ assets are expectedto take place quicker than before.Bolivia made going through bankruptcymore complex, by suspendingapplications for voluntary restructuring.The only option now is a bankruptcy procedurethat typically takes years.FIGURE 11.4Most reforms in Eastern Europe & Central Asia and rich economiesNumber of reforms making it easier to close a businessby Doing Business report yearDB2005 DB2006 DB2007 DB2008 DB2009Eastern Europe& Central Asia(28 economies)OECDhigh income(24 economies)East Asia& Pacific(24 economies)Latin America& Caribbean(32 economies)Sub-SaharanAfrica(46 economies)Middle East &North Africa(19 economies)South Asia(8 economies)12Note: A reform is counted as 1 reform per reforming economy per year.Source: Doing Business database.3661921FIGURE 11.2Rankings oare based oFunction of timsuch as lendingof the companyto operateNote: Time and cSee Data notes fFIGURE 11.5Top 5 reformclosing a buReforms includGranted powerIntroduced or tand streamlineEstablished orreorganizationDeveloped the7%Established a fiNote: A reform maSource: Doing Busin(c) The International Bank for Reconstruction and Development / The World Bank

Note: Time and cost do not count separately for the ranking.See Data notes for details.CLOSING A BUSINESs 5791921FIGURE 11.5Top 5 reform features inclosing a businessReforms including feature since DB2005 (%)Granted power to creditors28%Introduced or tightened statutory time limitsand streamlined appealsEstablished or promotedreorganization procedure22%16%Developed the trustee profession7%Established a first bankruptcy lawNote: A reform may include several reform features.Source: Doing Business database.29%creditors have been most concentratedamong OECD high-income economies.Finland gave creditors the right to setup a creditors’ committee to advise theadministrator. France and Korea nowallow the creditors’ committee to vote onthe reorganization plan. Denmark encouragedcreditors to report to the courtany trustee actions that appear to delaythe process. The court can then replacethe trustee if it decides—based on thecreditors’ reports—that the trustee isincompetent.Several economies, including Finlandand France, granted higher priorityto creditors in bankruptcy claims.France gave a “supersecured” position tocreditors that lend money to distressedcompanies, giving them priority overprevious secured creditors. That makes iteasier for such companies to obtain newloans and continue operating.OECD high-income economies havealso promoted reorganization. Finland,France, Italy and Korea made reorganizationmore accessible to troubled companies.Italy now allows distressed companiesto seek an agreement with creditorsbefore entering formal bankruptcy andwith no prerequisites. That permits thecompanies to continue operating. 3Besides OECD high-income economies,several in East Asia and Pacificalso empowered creditors. Indonesiaexpanded the powers of creditors’ committeesso they can file and vote on reorganizationplans. China adopted a newbankruptcy law in 2007, its first since1949, significantly strengthening creditors’rights. Secured creditors now rankfirst in payment priority. 4 Vietnam alsogave higher priority to secured creditors,and removed priority for tax claims,when it changed its 1993 bankruptcylaw in 2004.Speeding bankruptcy proceedingsThe second most popular reform featurein closing a business has been introducingor tightening deadlines in courtprocedures and streamlining appeals.Sixteen economies have undertaken suchreforms: Armenia, Bulgaria, Colombia,Estonia, Georgia, Lithuania, Portugal,Puerto Rico, Romania, Saudi Arabia, Serbia,Slovakia, Spain, Tunisia, the UnitedKingdom and the United States. Imposingtime limits facilitates fast resolutionof bankruptcy, avoiding deterioration ina company’s value over time.This type of reform has been mostpopular in Eastern Europe and CentralAsia, where no fewer than 8 economieshave reformed in this direction in thepast 5 years. Romania, Bulgaria andEstonia restricted procedural appeals.In 2004 Romania reduced the time allowedfor each appeal from 30 days to10, shortening the total duration of thebankruptcy procedure from 55 monthsto 40. Bulgaria restricted opportunitiesfor procedural appeals. Before thereform, the initial decision could be appealedto 2 higher levels of courts. Nowonly 1 appeal is possible. Estonia allowsdebt recovery to continue even whenthere is an appeal, avoiding disruptionof the process.Armenia, Bulgaria, Estonia, Georgia,Lithuania, Serbia and Slovakia introducedor tightened procedural timelimits. Armenia passed a new law incorporatingtime limits into the reorganizationprocedure. Serbia set stricttime limits: claimants have 5 days toraise objections to the resolution, appealsmust be made within 8 days after the ruling,and the court has 30 days to issue adecision on an appeal. Slovakia tightenedtime limits, speeding bankruptcy by atleast 9 months in 2006.Getting the focus rightWhen it comes to reforming bankruptcyregulations, it is often assumed that reorganizationis always the best courseof action. But in low-income economiesreorganization does not always lead tothe highest return for creditors.Mandatory reorganization proceduresin some African economies oftenmake matters worse. Take for exampleBenin, the Republic of Congo and Côted’Ivoire. All have mandatory reorganizationprovisions, but their judicial systemslack the capacity to handle these types ofcases. Among the main problems: frequentadjournments and courts that failto hand down timely decisions.In such systems, reorganizationusually ends in liquidation. The timespent in reorganization only delays theprocess and increases the cost. Reformsthat focus on debt enforcement or foreclosureare more likely to show results inthose countries. And reforms that ensureproperly resourced and well-functioningcourts can help a larger number of viablebusinesses to reorganize successfully.Overall, economies around theworld are reforming toward more efficientbankruptcy systems. In the yearssince Doing Business started collectingdata on the topic, the average time tocomplete bankruptcy proceedings hasdeclined by 4%.Notes1. Djankov and others (2006).2. Davydenko and Franks (2008) andde Jong and Couwenberg (2007).3. Beye and Nasr (2008).4. Only wage claims made before the newlaw came into effect have priority oversecured creditors.(c) The International Bank for Reconstruction and Development / The World Bank

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60 Doing Business 2009Africa’s Development and TransparencyInternational conference Alliance forIntegrity—Government & Business Rolesin Enhancing African Standards of Living,Addis Ababa, March 7–8. TanzaniaInvestment Center, Dar es Salaam.van Stel, André, David Storey and RoyThurik. 2007. “The Effect of BusinessRegulations on Nascent and Young BusinessEntrepreneurship.” Small BusinessEconomics 28 (2): 171–86.Wangda, Pema. Forthcoming. Reformingthe Labor Administration in Bhutan. IFCSmart Lesson Series. Washington, DC:World Bank Group.WEF (World Economic Forum). 2007. TheGlobal Competitiveness Report 2007–2008.New York: Palgrave Macmillan.Wojkowska, Ewa. 2006. “Doing Justice: HowInformal Justice Systems Can Contribute.”Oslo Governance Centre, United NationsDevelopment Programme, Oslo.World Bank. 2003. Doing Business in 2004:Understanding Regulation. Washington,DC: World Bank Group.———. 2004. Doing Business in 2005:Removing Obstacles to Growth. Washington,DC: World Bank Group.———. 2005. Doing Business in 2006: CreatingJobs. Washington, DC: World BankGroup.———. 2006a. Doing Business in Mexico2007: Comparing Regulation in the 31States and Mexico City. Washington, DC:World Bank Group.———. 2006b. Doing Business 2007: How toReform. Washington, DC: World BankGroup.———. 2006c. “Vietnam: Report on theObservance of Standards and Codes(ROSC).” World Bank Group, Washington,DC.———. 2007a. Celebrating Reform 2007.Washington, DC: World Bank Group andU.S. Agency for International Development.———. 2007b. Doing Business 2008: ComparingRegulation in 178 Economies. Washington,DC: World Bank Group.———. 2007c. Reforming Collateral Laws andRegistries: International Best Practices andthe Case of China. Washington, DC: WorldBank Group. http://www.ifc.org/ifcext/fias.nsf/Content/FIAS_Resources_Country_Reports.———. 2008a. Doing Business: Women inAfrica. Washington, DC: World BankGroup.———. 2008b. World Development Indicators2008. Washington, DC: World BankGroup.World Bank Independent Evaluation Group.2008. Doing Business: An IndependentEvaluation—Taking the Measure of theWorld Bank–IFC Doing Business Indicators.Washington, DC: World Bank Group.WTO (World Trade Organization). 2005.“Customs Border Cooperation betweenNorway, Sweden and Finland.” Communicationfrom Norway. DocumentTN/TF/W/48. Negotiating Group onTrade Facilitation, WTO, Geneva.Yakovlev, Evgeny, and Ekaterina Zhuravskaya.2008. “Deregulation of Business.”New Economic School, Moscow. http://ssrn.com/abstract=965838.(c) The International Bank for Reconstruction and Development / The World Bank

Data notesThe indicators presented and analyzedin Doing Business measure businessregulation and the protection of propertyrights—and their effect on businesses,especially small and medium-size domesticfirms. First, the indicators documentthe degree of regulation, such as thenumber of procedures to start a businessor to register and transfer commercialproperty. Second, they gauge regulatoryoutcomes, such as the time and cost toenforce a contract, go through bankruptcyor trade across borders. Third,they measure the extent of legal protectionsof property, for example, theprotections of investors against lootingby company directors or the range ofassets that can be used as collateral accordingto secured transactions laws.Fourth, they measure the flexibility ofemployment regulation. Finally, a set ofindicators documents the tax burden onbusinesses. For details on how the rankingson these indicators are constructed,see Ease of doing business, page 79.The data for all sets of indicators inDoing Business 2009 are for June 2008. 1Three new economies—The Bahamas,Bahrain and Qatar—were added to thesample, now comprising 181 economies.MethodologyThe Doing Business data are collected ina standardized way. To start, the DoingBusiness team, with academic advisers,designs a survey. The survey uses asimple business case to ensure comparabilityacross economies and over time—with assumptions about the legal formof the business, its size, its location andthe nature of its operations. Surveys areadministered through more than 6,700local experts, including lawyers, businessconsultants, accountants, freightforwarders, government officials andother professionals routinely administeringor advising on legal and regulatoryrequirements (table 12.1). Theseexperts have several (typically 4) roundsof interaction with the Doing Businessteam, involving conference calls, writtencorrespondence and visits by theteam. For Doing Business 2009 teammembers visited 73 economies to verifydata and recruit respondents. The datafrom surveys are subjected to numeroustests for robustness, which lead to revisionsor expansions of the informationcollected.The Doing Business methodologyoffers several advantages. It is transparent,using factual information aboutwhat laws and regulations say and allowingmultiple interactions with localrespondents to clarify potential misinterpretationsof questions. Having representativesamples of respondents isnot an issue, as the texts of the relevantlaws and regulations are collected andanswers checked for accuracy. The methodologyis inexpensive and easily replicable,so data can be collected in a largesample of economies. Because standardassumptions are used in the data collection,comparisons and benchmarks areTable 12.1How many experts does Doing Businessconsult?Number ofIndicator setcontributorsStarting a business 1,166Dealing with construction permits 739Employing workers 810Registering property 907Getting credit 1,033Protecting investors 653Paying taxes 862Trading across borders 817Enforcing contracts 767Closing a business 72761valid across economies. Finally, the datanot only highlight the extent of specificregulatory obstacles to doing businessbut also identify their source and pointto what might be reformed.Limits to what is measuredThe Doing Business methodology has5 limitations that should be consideredwhen interpreting the data. First, thecollected data refer to businesses inthe economy’s largest business city andmay not be representative of regulationin other parts of the economy. To addressthis limitation, subnational DoingBusiness indicators were created for 6economies in 2007/08: China, Colombia,Egypt, Morocco, Nigeria and the Philippines.2 Six other subnational studies areunder way, in Central Asia, SoutheastEurope, Indonesia, the Russian Federation,Southeast Asia and Ukraine. Andsome existing studies are updated annually,such as those in India, Mexico andPakistan. These subnational studies pointto significant differences in the speed ofreform and the ease of doing businessacross cities in the same economy.Second, the data often focus ona specific business form—generally alimited liability company (or its legalequivalent) of a specified size—and maynot be representative of the regulationon other businesses, for example, soleproprietorships. Third, transactions describedin a standardized case scenariorefer to a specific set of issues and maynot represent the full set of issues a businessencounters. Fourth, the measures oftime involve an element of judgment bythe expert respondents. When sourcesindicate different estimates, the timeindicators reported in Doing Businessrepresent the median values of severalresponses given under the assumptionsof the standardized case.Finally, the methodology assumesthat a business has full information onwhat is required and does not wastetime when completing procedures. Inpractice, completing a procedure maytake longer if the business lacks informationor is unable to follow up promptly.(c) The International Bank for Reconstruction and Development / The World Bank

62 Doing Business 2009Alternatively, the business may choose todisregard some burdensome procedures.For both reasons the time delays reportedin Doing Business 2009 could differfrom the perceptions of entrepreneursreported in the World Bank EnterpriseSurveys or other perception surveys.Changes in what is measuredThe methodology for one of the DoingBusiness topics—getting credit—improvedthis year. Three main changeswere made, affecting only the strength oflegal rights index. First, a standardizedcase scenario with specific assumptionswas introduced to bring this indicatorinto line with other Doing Business indicators.Second, the indicator now focusesnot on tangible movable collateral, suchas equipment, but on revolving movablecollateral, such as accounts receivableand inventory. Third, the indicator nolonger considers whether managementremains in place during a reorganizationprocedure, better accommodatingeconomies that adopt reorganizationprocedures similar to Chapter 11 reorganizationor redressement procedures incivil law systems.Economy characteristicsGross national income (GNI)per capitaDoing Business 2009 reports 2007income per capita as published inthe World Bank’s World DevelopmentIndicators 2008. Income iscalculated using the Atlas method(current US$). For cost indicatorsexpressed as a percentage of incomeper capita, 2007 GNI in local currencyunits is used as the denominator.GNI data were not available fromthe World Bank for The Bahamas,Bahrain, Puerto Rico, Qatar and theUnited Arab Emirates. In these casesGDP or GNP per capita data andgrowth rates from the InternationalMonetary Fund’s World EconomicOutlook database, the Economist IntelligenceUnit 2008 country profilesData challenges and revisionsMost laws and regulations underlying theDoing Business data are available on theDoing Business website at http://www.doingbusiness.org. All the sample surveysand the details underlying the indicatorsare also published on the website.Questions on the methodology and challengesto data can be submitted throughthe website’s “Ask a Question” function athttp://www.doingbusiness.org.Doing Business publishes 8,900indicators each year. To create these indicators,the team measures more than52,000 data points, each of which ismade available on the Doing Businesswebsite. Data time series for each indicatorand economy are available on thewebsite, beginning with the first yearthe indicator or economy was includedin the report. To provide a comparabletime series for research, the data set isback-calculated to adjust for changesin methodology and any revisions indata due to corrections. The website alsomakes available all original data setsused for background papers. The correctionrate between Doing Business 2008and Doing Business 2009 was 6%.and the U.S. State Department 2008country profiles were used.Region and income groupDoing Business uses the World Bankregional and income group classifications,available at http://www.worldbank.org/data/countryclass.Throughout the report the term richeconomies refers to the high-incomegroup, middle-income economies tothe upper-middle-income group andpoor economies to the lower-middleincomeand low-income groups.PopulationDoing Business 2009 reports midyear2007 population statistics as publishedin World Development Indicators2008.Starting a businessDoing Business records all proceduresthat are officially required for an entrepreneurto start up and formally operate anindustrial or commercial business. Theseinclude obtaining all necessary licensesand permits and completing any requirednotifications, verifications or inscriptionsfor the company and employees with relevantauthorities (table 12.2).After a study of laws, regulationsand publicly available information onbusiness entry, a detailed list of proceduresis developed, along with the timeand cost of complying with each procedureunder normal circumstances andthe paid-in minimum capital requirements.Subsequently, local incorporationlawyers and government officialscomplete and verify the data.Information is also collected on thesequence in which procedures are tobe completed and whether proceduresmay be carried out simultaneously. It isassumed that any required informationis readily available and that all agenciesinvolved in the start-up process functionwithout corruption. If answers by localexperts differ, inquiries continue untilthe data are reconciled.To make the data comparable acrosseconomies, several assumptions about thebusiness and the procedures are used.Assumptions about the businessThe business:• Is a limited liability company. If thereis more than one type of limitedliability company in the economy, thelimited liability form most popularamong domestic firms is chosen.Information on the most popularform is obtained from incorporationlawyers or the statistical office.• Operates in the economy’s largestbusiness city.• Is 100% domestically owned and has5 owners, none of whom is a legalentity.• Has start-up capital of 10 timesincome per capita at the end of 2007,paid in cash.(c) The International Bank for Reconstruction and Development / The World Bank

DATA NOTES 63Table 12.2What does starting a business measure?Procedures to legally start and operate a company (number)• Preregistration (for example, name verification or reservation, notarization)• Registration in the economy’s largest business city• Postregistration (for example, social security registration, company seal)Time required to complete each procedure (calendar days)• Does not include time spent gathering information• Each procedure starts on a separate day• Procedure completed once final document is received• No prior contact with officialsCost required to complete each procedure (% of income per capita)• Official costs only, no bribes• No professional fees unless services required by lawPaid-in minimum capital (% of income per capita)• Deposited in a bank or with a notary before registration beginsSource: Doing Business database.• Performs general industrial orcommercial activities, such as theproduction or sale to the public ofproducts or services. The businessdoes not perform foreign tradeactivities and does not handleproducts subject to a special taxregime, for example, liquor ortobacco. It is not using heavilypolluting production processes.• Leases the commercial plant andoffices and is not a proprietor of realestate.• Does not qualify for investmentincentives or any special benefits.• Has at least 10 and up to 50employees 1 month after thecommencement of operations, all ofthem nationals.• Has a turnover of at least 100 timesincome per capita.• Has a company deed 10 pages long.ProceduresA procedure is defined as any interactionof the company founders with externalparties (for example, government agencies,lawyers, auditors or notaries). Interactionsbetween company founders orcompany officers and employees are notcounted as procedures. Procedures thatmust be completed in the same buildingbut in different offices are countedas separate procedures. If founders haveto visit the same office several times fordifferent sequential procedures, each iscounted separately. The founders are assumedto complete all procedures themselves,without middlemen, facilitators,accountants or lawyers, unless the useof such a third party is mandated bylaw. If the services of professionals arerequired, procedures conducted by suchprofessionals on behalf of the companyare counted separately. Each electronicprocedure is counted separately. If 2 procedurescan be completed through thesame website but require separate filings,they are counted as 2 procedures.Both pre- and postincorporationprocedures that are officially requiredfor an entrepreneur to formally operate abusiness are recorded.Procedures required for official correspondenceor transactions with publicagencies are also included. For example,if a company seal or stamp is requiredon official documents, such as tax declarations,obtaining the seal or stamp iscounted. Similarly, if a company mustopen a bank account before registeringfor sales tax or value added tax, thistransaction is included as a procedure.Shortcuts are counted only if they fulfill 4criteria: they are legal, they are availableto the general public, they are used bythe majority of companies, and avoidingthem causes substantial delays.Only procedures required of allbusinesses are covered. Industry-specificprocedures are excluded. For example,procedures to comply with environmentalregulations are included only whenthey apply to all businesses conductinggeneral commercial or industrial activities.Procedures that the company undergoesto connect to electricity, water,gas and waste disposal services are notincluded.TimeTime is recorded in calendar days. Themeasure captures the median durationthat incorporation lawyers indicate isnecessary to complete a procedure withminimum follow-up with governmentagencies and no extra payments. It is assumedthat the minimum time requiredfor each procedure is 1 day. Althoughprocedures may take place simultaneously,they cannot start on the same day(that is, simultaneous procedures starton consecutive days). A procedure isconsidered completed once the companyhas received the final document, such asthe company registration certificate ortax number. If a procedure can be acceleratedfor an additional cost, the fastestprocedure is chosen. It is assumed thatthe entrepreneur does not waste timeand commits to completing each remainingprocedure without delay. The timethat the entrepreneur spends on gatheringinformation is ignored. It is assumedthat the entrepreneur is aware of all entryregulations and their sequence from thebeginning but has had no prior contactwith any of the officials.CostCost is recorded as a percentage of theeconomy’s income per capita. It includesall official fees and fees for legal or professionalservices if such services arerequired by law. Fees for purchasing andlegalizing company books are includedif these transactions are required by law.The company law, the commercial codeand specific regulations and fee schedulesare used as sources for calculatingcosts. In the absence of fee schedules, agovernment officer’s estimate is takenas an official source. In the absence of a(c) The International Bank for Reconstruction and Development / The World Bank

64 Doing Business 2009government officer’s estimate, estimatesof incorporation lawyers are used. Ifseveral incorporation lawyers providedifferent estimates, the median reportedvalue is applied. In all cases the cost excludesbribes.Paid-in minimum capitalThe paid-in minimum capital requirementreflects the amount that the entrepreneurneeds to deposit in a bank orwith a notary before registration and upto 3 months following incorporation andis recorded as a percentage of the economy’sincome per capita. The amountis typically specified in the commercialcode or the company law. Many economieshave a minimum capital requirementbut allow businesses to pay only apart of it before registration, with the restto be paid after the first year of operation.In Germany in June 2008, the minimumcapital requirement for limited liabilitycompanies was €25,000, of which at least€12,500 was payable before registration.The paid-in minimum capital recordedfor Germany is therefore €12,500, or42.2% of income per capita. In Serbia theminimum capital requirement was €500,of which only half needed to be paid beforeregistration. The paid-in minimumcapital recorded for Serbia is therefore€250, or 7% of income per capita.The data details on starting a businesscan be found for each economy athttp://www.doingbusiness.org. This methodologywas developed in Djankov andothers (2002) and is adopted here withminor changes.Dealing with constructionpermitsDoing Business records all proceduresrequired for a business in the constructionindustry to build a standardizedwarehouse. These procedures includesubmitting all relevant project-specificdocuments (for example, building plansand site maps) to the authorities; obtainingall necessary clearances, licenses,permits and certificates; completing allTable 12.3What does dealing with construction permits measure?Procedures to legally build a warehouse (number)• Submitting all relevant documents and obtaining all necessary clearances, licenses, permits and certificates• Completing all required notifications and receiving all necessary inspections• Obtaining utility connections for electricity, water, sewerage and a land telephone line• Registering the warehouse after its completion (if required for use as collateral or for transfer of warehouse)Time required to complete each procedure (calendar days)• Does not include time spent gathering information• Each procedure starts on a separate day• Procedure completed once final document is received• No prior contact with officialsCost required to complete each procedure (% of income per capita)• Official costs only, no bribesSource: Doing Business database.required notifications; and receiving allnecessary inspections. Doing Businessalso records procedures for obtainingconnections for electricity, water, sewerageand a fixed land line. Proceduresnecessary to register the property so thatit can be used as collateral or transferredto another entity are also counted (table12.3). The survey divides the process ofbuilding a warehouse into distinct proceduresand calculates the time and costof completing each procedure in practiceunder normal circumstances.Information is collected from expertsin construction licensing, includingarchitects, construction lawyers, constructionfirms, utility service providersand public officials who deal with buildingregulations, including approvals andinspections. To make the data comparableacross economies, several assumptionsabout the business, the warehouse projectand the utility connections are used.Assumptions about theconstruction companyThe business (BuildCo):• Is a limited liability company.• Operates in the economy’s largestbusiness city.• Is 100% domestically and privatelyowned.• Has 5 owners, none of whom is a legalentity.• Is fully licensed and insured to carryout construction projects, such asbuilding warehouses.• Has 60 builders and other employees,all of them nationals with thetechnical expertise and professionalexperience necessary to obtainconstruction permits and approvals.• Has at least 1 employee who is alicensed architect and registered withthe local association of architects.• Has paid all taxes and taken out allnecessary insurance applicable to itsgeneral business activity (for example,accidental insurance for constructionworkers and third-person liabilityinsurance).• Owns the land on which thewarehouse is built.Assumptions about thewarehouseThe warehouse:• Will be used for general storageactivities, such as storage of books orstationery. The warehouse will not beused for any goods requiring specialconditions, such as food, chemicals orpharmaceuticals.• Has 2 stories, both above ground,with a total surface of approximately1,300.6 square meters (14,000 squarefeet). Each floor is 3 meters (9 feet, 10inches) high.• Has road access and is located inthe periurban area of the economy’slargest business city (that is, on thefringes of the city but still within itsofficial limits).(c) The International Bank for Reconstruction and Development / The World Bank

DATA NOTES 65• Is not located in a special economicor industrial zone. The zoningrequirements for warehouses are metby building in an area where similarwarehouses can be found.• Is located on a land plot of 929 squaremeters (10,000 square feet) thatis 100% owned by BuildCo and isaccurately registered in the cadastreand land registry.• Is a new construction (there was noprevious construction on the land).• Has complete architectural andtechnical plans prepared by a licensedarchitect.• Will include all technical equipmentrequired to make the warehouse fullyoperational.• Will take 30 weeks to construct(excluding all delays due toadministrative and regulatoryrequirements).Assumptions about the utilityconnectionsThe electricity connection:• Is 10 meters (32 feet, 10 inches) fromthe main electricity network.• Is a medium-tension, 3-phase, 4-wireY, 140-kVA connection. Three-phaseservice is available in the constructionarea.• Will be delivered by an overheadservice, unless overhead service is notavailable in the periurban area.• Consists of a simple hookup unlessinstallation of a private substation(transformer) or extension of networkis required.• Requires the installation of only oneelectricity meter.BuildCo is assumed to have a licensedelectrician on its team to complete theinternal wiring for the warehouse.The water and sewerage connection:• Is 10 meters (32 feet, 10 inches) fromthe existing water source and sewer tap.• Does not require water forfire protection reasons; a fireextinguishing system (dry system)will be used instead. If a wet fireprotection system is required by law,it is assumed that the water demandspecified below also covers the waterneeded for fire protection.• Has an average water use of 662 liters(175 gallons) a day and an averagewastewater flow of 568 liters (150gallons) a day.• Has a peak water use of 1,325 liters(350 gallons) a day and a peakwastewater flow of 1,136 liters (300gallons) a day.• Will have a constant level of waterdemand and wastewater flowthroughout the year.The telephone connection:• Is 10 meters (32 feet, 10 inches) fromthe main telephone network.• Is a fixed land line.ProceduresA procedure is any interaction of thecompany’s employees or managers withexternal parties, including governmentagencies, notaries, the land registry, thecadastre, utility companies, public andprivate inspectors and technical expertsapart from in-house architects and engineers.Interactions between companyemployees, such as development of thewarehouse plans and inspections conductedby employees, are not countedas procedures. Procedures that the companyundergoes to connect to electricity,water, sewerage and telephone servicesare included. All procedures that arelegally or in practice required for buildinga warehouse are counted, even if theymay be avoided in exceptional cases.TimeTime is recorded in calendar days. Themeasure captures the median durationthat local experts indicate is necessary tocomplete a procedure in practice. It is assumedthat the minimum time requiredfor each procedure is 1 day. Althoughprocedures may take place simultaneously,they cannot start on the same day(that is, simultaneous procedures starton consecutive days). If a procedure canbe accelerated legally for an additionalcost, the fastest procedure is chosen. Itis assumed that BuildCo does not wastetime and commits to completing eachremaining procedure without delay. Thetime that BuildCo spends on gatheringinformation is ignored. It is assumedthat BuildCo is aware of all buildingrequirements and their sequence fromthe beginning.CostCost is recorded as a percentage of theeconomy’s income per capita. Only officialcosts are recorded. All the feesassociated with completing the proceduresto legally build a warehouse arerecorded, including those associatedwith obtaining land use approvals andpreconstruction design clearances; receivinginspections before, during andafter construction; getting utility connections;and registering the warehouseproperty. Nonrecurring taxes requiredfor the completion of the warehouseproject also are recorded. The buildingcode, information from local experts andspecific regulations and fee schedules areused as sources for costs. If several localpartners provide different estimates, themedian reported value is used.The data details on dealing with constructionpermits can be found for eacheconomy at http://www.doingbusiness.org.Employing workersDoing Business measures the regulationof employment, specifically as it affectsthe hiring and firing of workers and therigidity of working hours.In 2007 improvements were made toalign the methodology for the employingworkers indicators with the InternationalLabour Organization (ILO) conventions.Only 4 of the 188 ILO conventions coverareas measured by Doing Business:employee termination, weekend work,holiday with pay and night work. Themethodology was adapted to ensure fullconsistency with these 4 conventions. Itis possible for an economy to receive thehighest score on the ease of employing(c) The International Bank for Reconstruction and Development / The World Bank

66 Doing Business 2009workers and comply with all relevant ILOconventions (specifically, the 4 related toDoing Business)—and no economy canachieve a better score by failing to complywith these conventions.The ILO conventions covering areasrelated to the employing workers indicatorsdo not include the ILO core laborstandards—8 conventions covering theright to collective bargaining, the eliminationof forced labor, the abolition ofchild labor and equitable treatment inemployment practices. Doing Businesssupports the ILO core labor standardsand this year includes information ontheir ratification. Doing Business doesnot measure or rank ratification or compliancewith ILO conventions.The data on employing workers arebased on a detailed survey of employmentregulations that is completed by locallawyers and public officials. Employmentlaws and regulations as well as secondarysources are reviewed to ensure accuracy.To make the data comparable acrosseconomies, several assumptions about theworker and the business are used.Assumptions about the workerThe worker:• Is a 42-year-old, nonexecutive, fulltime,male employee.• Has worked at the same company for20 years.• Earns a salary plus benefits equal tothe economy’s average wage duringthe entire period of his employment.• Is a lawful citizen who belongs to thesame race and religion as the majorityof the economy’s population.• Resides in the economy’s largestbusiness city.• Is not a member of a labor union,unless membership is mandatory.Assumptions about the businessThe business:• Is a limited liability company.• Operates in the economy’s largestbusiness city.• Is 100% domestically owned.• Operates in the manufacturing sector.• Has 201 employees.• Is subject to collective bargainingagreements in economies where suchagreements cover more than half themanufacturing sector and apply evento firms not party to them.• Abides by every law and regulationbut does not grant workers morebenefits than mandated by law,regulation or (if applicable) collectivebargaining agreement.Rigidity of employment indexThe rigidity of employment index is theaverage of 3 subindices: a difficulty ofhiring index, a rigidity of hours indexand a difficulty of firing index (table12.4). All the subindices have severalcomponents. And all take values between0 and 100, with higher values indicatingmore rigid regulation.The difficulty of hiring index measures(i) whether fixed-term contractsare prohibited for permanent tasks; (ii)the maximum cumulative duration offixed-term contracts; and (iii) the ratioof the minimum wage for a traineeor first-time employee to the averagevalue added per worker. 4 An economyis assigned a score of 1 if fixed-termcontracts are prohibited for permanenttasks and a score of 0 if they can be usedfor any task. A score of 1 is assigned ifthe maximum cumulative duration ofTable 12.4What does employing workers measure?Difficulty of hiring index (0–100)• Applicability and maximum duration of fixed-term contracts• Minimum wage for trainee or first-time employeeRigidity of hours index (0–100)fixed-term contracts is less than 3 years;0.5 if it is 3 years or more but less than 5years; and 0 if fixed-term contracts canlast 5 years or more. Finally, a score of 1is assigned if the ratio of the minimumwage to the average value added perworker is 0.75 or more; 0.67 for a ratio of0.50 or more but less than 0.75; 0.33 fora ratio of 0.25 or more but less than 0.50;and 0 for a ratio of less than 0.25. In theCentral African Republic, for example,fixed-term contracts are prohibited forpermanent tasks (a score of 1), and theycan be used for a maximum of 4 years (ascore of 0.5). The ratio of the mandatedminimum wage to the value added perworker is 0.62 (a score of 0.67). Averagingthe 3 values and scaling the index to100 gives the Central African Republic ascore of 72.The rigidity of hours index has 5components: (i) whether night work isunrestricted; (ii) whether weekend workis unrestricted; (iii) whether the workweekcan consist of 5.5 days; (iv) whetherthe workweek can extend to 50 hours ormore (including overtime) for 2 monthsa year to respond to a seasonal increasein production; and (v) whether paidannual vacation is 21 working days orfewer. For each of these questions, if theanswer is no, the economy is assigned ascore of 1; otherwise a score of 0 is as-• Restrictions on night work and weekend work• Allowed maximum length of the workweek in days and hours, including overtime• Paid annual vacation daysDifficulty of firing index (0–100)• Notification and approval requirements for termination of a redundant worker or group of redundantworkers• Obligation to reassign or retrain and priority rules for redundancy and reemploymentRigidity of employment index (0–100)• Simple average of the difficulty of hiring, rigidity of hours and difficulty of firing indicesFiring cost (weeks of salary)• Notice requirements, severance payments and penalties due when terminating a redundant worker, expressedin weeks of salarySource: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

DATA NOTES 67signed. For example, the Czech Republicimposes restrictions on night work (ascore of 1) and weekend work (a scoreof 1), allows 6-day workweeks (a scoreof 0), permits 50-hour workweeks for 2months (a score of 0) and requires paidvacation of 20 working days (a score of0). Averaging the scores and scaling theresult to 100 gives a final index of 40 forthe Czech Republic.The difficulty of firing index has8 components: (i) whether redundancyis disallowed as a basis for terminatingworkers; (ii) whether the employer needsto notify a third party (such as a governmentagency) to terminate 1 redundantworker; (iii) whether the employerneeds to notify a third party to terminatea group of 25 redundant workers; (iv)whether the employer needs approvalfrom a third party to terminate 1 redundantworker; (v) whether the employerneeds approval from a third party toterminate a group of 25 redundant workers;(vi) whether the law requires theemployer to reassign or retrain a workerbefore making the worker redundant;(vii) whether priority rules apply forredundancies; and (viii) whether priorityrules apply for reemployment. For thefirst question an answer of yes for workersof any income level gives a score of10 and means that the rest of the questionsdo not apply. An answer of yes toquestion (iv) gives a score of 2. For everyother question, if the answer is yes, ascore of 1 is assigned; otherwise a scoreof 0 is given. Questions (i) and (iv), as themost restrictive regulations, have greaterweight in the construction of the index.In Tunisia, for example, redundancyis allowed as grounds for termination(a score of 0). An employer has to bothnotify a third party (a score of 1) andobtain its approval (a score of 2) to terminatea single redundant worker, andhas to both notify a third party (a scoreof 1) and obtain its approval (a score of1) to terminate a group of 25 redundantworkers. The law mandates retraining oralternative placement before termination(a score of 1). There are priorityrules for termination (a score of 1) andreemployment (a score of 1). Adding thescores and scaling to 100 gives a finalindex of 80.Firing costThe firing cost indicator measures thecost of advance notice requirements,severance payments and penalties duewhen terminating a redundant worker,expressed in weeks of salary. If the firingcost adds up to 8 or fewer weeks of salary,a score of 0 is assigned for the purposesof calculating the aggregate ease of doingbusiness ranking. If the cost adds up tomore than 8 weeks of salary, the score isthe number of weeks. One month is recordedas 4 and 1/3 weeks. In Mauritius,for example, an employer is required togive 3 months’ notice before a redundancytermination, and the severancepay for a worker with 20 years of serviceequals 5 months of wages. No penaltyis levied. Altogether, the employer paysthe equivalent of 35 weeks of salary todismiss the worker.The data details on employing workerscan be found for each economy at http://www.doingbusiness.org. This methodologywas developed in Botero and others(2004) and is adopted here with minorchanges.Registering propertyDoing Business records the full sequenceof procedures necessary for a business(buyer) to purchase a property from anotherbusiness (seller) and to transfer theproperty title to the buyer’s name so thatthe buyer can use the property for expandingits business, use the property ascollateral in taking new loans or, if necessary,sell the property to another business(table 12.5). The process starts withobtaining the necessary documents, suchas a copy of the seller’s title if necessary,and conducting due diligence if required.The transaction is considered completewhen the buyer can use the property ascollateral for a bank loan.Every procedure required by lawor necessary in practice is included,whether it is the responsibility of theseller or the buyer or must be completedby a third party on their behalf. Localproperty lawyers, notaries and propertyregistries provide information on proceduresas well as the time and cost tocomplete each of them.To make the data comparable acrosseconomies, several assumptions aboutthe parties to the transaction, the propertyand the procedures are used.Assumptions about the partiesThe parties (buyer and seller):• Are limited liability companies.• Are located in the periurban area ofthe economy’s largest business city.• Are 100% domestically and privatelyowned.• Have 50 employees each, all of whomare nationals.• Perform general commercialactivities.Assumptions about the propertyThe property:• Has a value of 50 times income percapita. The sale price equals the value.• Is fully owned by the seller.• Has no mortgages attached and hasbeen under the same ownership forthe past 10 years.• Is registered in the land registry orcadastre, or both, and is free of titledisputes.• Is located in a periurban commercialzone, and no rezoning is required.• Consists of land and a building. Theland area is 557.4 square meters(6,000 square feet). A 2-storywarehouse of 929 square meters(10,000 square feet) is located on theland. The warehouse is 10 years old, isin good condition and complies withall safety standards, building codesand other legal requirements. Theproperty of land and building will betransferred in its entirety.• Will not be subject to renovationsor additional building following thepurchase.(c) The International Bank for Reconstruction and Development / The World Bank

68 Doing Business 2009• Has no trees, natural water sources,natural reserves or historicalmonuments of any kind.• Will not be used for special purposes,and no special permits, such as forresidential use, industrial plants,waste storage or certain types ofagricultural activities, are required.• Has no occupants (legal or illegal),and no other party holds a legalinterest in it.ProceduresA procedure is defined as any interactionof the buyer or the seller or their agents(if an agent is legally or in practice required)with external parties, includinggovernment agencies, inspectors, notariesand lawyers. Interactions betweencompany officers and employees are notconsidered. All procedures that are legallyor in practice required for registeringproperty are recorded, even if theymay be avoided in exceptional cases. It isassumed that the buyer follows the fastestlegal option available and used by themajority of property owners. Althoughthe buyer may use lawyers or other professionalswhere necessary in the registrationprocess, it is assumed that it doesnot employ an outside facilitator in theregistration process unless legally or inpractice required to do so.TimeTime is recorded in calendar days. Themeasure captures the median durationthat property lawyers, notaries or registryofficials indicate is necessary tocomplete a procedure. It is assumed thatthe minimum time required for eachprocedure is 1 day. Although proceduresmay take place simultaneously, they cannotstart on the same day. It is assumedthat the buyer does not waste time andcommits to completing each remainingprocedure without delay. If a procedurecan be accelerated for an additional cost,the fastest legal procedure available andused by the majority of property ownersis chosen. If procedures can be undertakensimultaneously, it is assumed thatthey are. It is assumed that the partiesTable 12.5What does registering property measure?Procedures to legally transfer title on immovable property (number)• Preregistration (for example, checking for liens, notarizing sales agreement, paying property transfer taxes)• Registration in the economy’s largest business city• Postregistration (for example, filing title with municipality)Time required to complete each procedure (calendar days)• Does not include time spent gathering information• Each procedure starts on a separate day• Procedure completed once final document is received• No prior contact with officialsCost required to complete each procedure (% of property value)• Official costs only, no bribes• No value added or capital gains taxes includedSource: Doing Business database.involved are aware of all regulations andtheir sequence from the beginning. Timespent on gathering information is notconsidered.CostCost is recorded as a percentage of theproperty value, assumed to be equivalentto 50 times income per capita. Onlyofficial costs required by law are recorded,including fees, transfer taxes,stamp duties and any other payment tothe property registry, notaries, publicagencies or lawyers. Other taxes, such ascapital gains tax or value added tax, areexcluded from the cost measure. Bothcosts borne by the buyer and those borneby the seller are included. If cost estimatesdiffer among sources, the medianreported value is used.The data details on registering propertycan be found for each economy at http://www.doingbusiness.org.Getting creditDoing Business constructs measures ofthe legal rights of borrowers and lendersand the sharing of credit information.The first set of indicators describes howwell collateral and bankruptcy laws facilitatelending. The second set measuresthe coverage, scope, quality and accessibilityof credit information availablethrough public and private credit registries(table 12.6).The data on the legal rights of borrowersand lenders are gathered througha survey of financial lawyers and verifiedthrough analysis of laws and regulationsas well as public sources of informationon collateral and bankruptcy laws. Thedata on credit information sharing arebuilt in 2 stages. First, banking supervisionauthorities and public informationsources are surveyed to confirm thepresence of public credit registries andprivate credit information bureaus. Second,when applicable, a detailed surveyon the public or private credit registry’sstructure, law and associated rules isadministered to the credit registry. Surveyresponses are verified through severalrounds of follow-up communicationwith respondents as well as by contactingthird parties and consulting publicsources. The survey data are confirmedthrough teleconference calls or on-sitevisits in all economies.Strength of legal rights indexThe strength of legal rights index measuresthe degree to which collateral andbankruptcy laws protect the rights ofborrowers and lenders and thus facilitatelending. Two case scenarios are usedto determine the scope of the securedtransactions system, involving a securedborrower, the company ABC, and a securedlender, BizBank.Several assumptions about the securedborrower and lender are used:(c) The International Bank for Reconstruction and Development / The World Bank

DATA NOTES 69• ABC is a domestic, limited liabilitycompany.• ABC has its headquarters and onlybase of operations in the economy’slargest business city.• To fund its business expansion plans,ABC obtains a loan from BizBank foran amount up to 10 times income percapita in local currency.• Both ABC and BizBank are 100%domestically owned.The case scenarios also involve assumptions.In case A, as collateral for theloan, ABC grants BizBank a nonpossessorysecurity interest in one category ofrevolving movable assets, for example,its accounts receivable or its inventory.ABC wants to keep both possession andownership of the collateral. In economiesin which the law does not allow nonpossessorysecurity interests in movableproperty, ABC and BizBank use a fiduciarytransfer-of-title arrangement (ora similar substitute for nonpossessorysecurity interests).In case B, ABC grants BizBank abusiness charge, enterprise charge, floatingcharge or any charge or combinationof charges that gives BizBank a securityinterest over ABC’s combined assets (oras much of ABC’s assets as possible).ABC keeps ownership and possession ofthe assets.The strength of legal rights index includes8 aspects related to legal rights incollateral law and 2 aspects in bankruptcylaw. A score of 1 is assigned for each of thefollowing features of the laws:Table 12.6What does getting credit measure?Strength of legal rights index (0–10)• Any business may use movable assetsas collateral while keeping possessionof the assets, and any financialinstitution may accept such assets ascollateral.• The law allows a business to granta nonpossessory security right in asingle category of revolving movableassets (such as accounts receivableor inventory), without requiring aspecific description of the securedassets.• The law allows a business to granta nonpossessory security right insubstantially all of its assets, withoutrequiring a specific description of thesecured assets.• A security right may extend to futureor after-acquired assets and mayextend automatically to the products,proceeds or replacements of theoriginal assets.• General description of debts andobligations is permitted in collateralagreements and in registrationdocuments, so that all types ofobligations and debts can be securedby stating a maximum rather thana specific amount between the parties.• A collateral registry is in operationthat is unified geographically andby asset type and that is indexed bythe name of the grantor of a securityright.• Secured creditors are paid first (forexample, before general tax claimsand employee claims) when a debtordefaults outside an insolvencyprocedure.• Protection of rights of borrowers and lenders through collateral and bankruptcy laws• Security interest is a nonpossessory one in movable assetsDepth of credit information index (0–6)• Scope and accessibility of credit information distributed by public and private credit registries• Quality of data distributed by public and private credit registriesPublic credit registry coverage (% of adults)• Number of individuals and firms listed in a public credit registry as percentage of adult populationPrivate credit bureau coverage (% of adults)• Number of individuals and firms listed in a private credit bureau as percentage of adult populationSource: Doing Business database.• Secured creditors are paid first (forexample, before general tax claimsand employee claims) when abusiness is liquidated.• Secured creditors are not subject toan automatic stay or moratoriumon enforcement procedures whena debtor enters a court-supervisedreorganization procedure.• The law allows parties to agree in acollateral agreement that the lendermay enforce its security right out ofcourt.The index ranges from 0 to 10, withhigher scores indicating that collateraland bankruptcy laws are better designedto expand access to credit.Depth of credit informationindexThe depth of credit information indexmeasures rules affecting the scope, accessibilityand quality of credit informationavailable through either public orprivate credit registries. A score of 1 isassigned for each of the following 6 featuresof the public registry or the privatecredit bureau (or both):• Both positive credit information(for example, loan amounts andpattern of on-time repayments) andnegative information (for example,late payments, number and amountof defaults and bankruptcies) aredistributed.• Data on both firms and individualsare distributed.• Data from retailers, trade creditors orutility companies as well as financialinstitutions are distributed.• More than 2 years of historical data aredistributed. Registries that erase dataon defaults as soon as they are repaidobtain a score of 0 for this indicator.• Data on loans below 1% of incomeper capita are distributed. A registrymust have a minimum coverage of 1%of the adult population to score a 1for this indicator.• Regulations guarantee borrowers theright to access their data in the largestregistry in the economy.(c) The International Bank for Reconstruction and Development / The World Bank

70 Doing Business 2009The index ranges from 0 to 6, withhigher values indicating the availabilityof more credit information, from eithera public registry or a private bureau, tofacilitate lending decisions. If the registryis not operational or has coverage of lessthan 0.1% of the adult population, thescore on the depth of credit informationindex is 0.In Turkey, for example, both a publicand a private registry operate. Bothdistribute positive and negative information(a score of 1). The private bureaudistributes data only on individuals, butthe public registry covers firms as wellas individuals (a score of 1). The publicand private registries share data amongfinancial institutions only; no data arecollected from retailers or utilities (ascore of 0). The private bureau distributesmore than 2 years of historical data(a score of 1). The public registry collectsdata on loans of $3,493 (44% of incomeper capita) or more, but the private bureaucollects information on loans ofany value (a score of 1). Borrowers havethe right to access their data in both theprivate and the public registry (a score of1). Summing across the indicators givesTurkey a total score of 5.Public credit registry coverageThe public credit registry coverage indicatorreports the number of individualsand firms listed in a public creditregistry with information on repaymenthistory, unpaid debts or credit outstandingfrom the past 5 years. The numberis expressed as a percentage of the adultpopulation (the population aged 15 andabove according to the World Bank’sWorld Development Indicators 2008).A public credit registry is defined as adatabase managed by the public sector,usually by the central bank or thesuperintendent of banks, that collectsinformation on the creditworthiness ofborrowers (persons or businesses) in thefinancial system and makes it availableto financial institutions. If no public registryoperates, the coverage value is 0.Private credit bureau coverageThe private credit bureau coverage indicatorreports the number of individualsand firms listed by a private credit bureauwith information on repayment history,unpaid debts or credit outstanding fromthe past 5 years. The number is expressedas a percentage of the adult population(the population aged 15 and above accordingto the World Bank’s World DevelopmentIndicators 2008). A privatecredit bureau is defined as a private firmor nonprofit organization that maintainsa database on the creditworthiness ofborrowers (persons or businesses) inthe financial system and facilitates theexchange of credit information amongbanks and financial institutions. Creditinvestigative bureaus and credit reportingfirms that do not directly facilitateinformation exchange among banks andother financial institutions are not considered.If no private bureau operates,the coverage value is 0.The data details on getting credit can befound for each economy at http://www.doingbusiness.org. This methodologywas developed in Djankov, McLiesh andShleifer (2007) and is adopted here withminor changes.Protecting investorsDoing Business measures the strength ofminority shareholder protections againstdirectors’ misuse of corporate assets forpersonal gain. The indicators distinguish3 dimensions of investor protection:transparency of related-party transactions(extent of disclosure index), liabilityfor self-dealing (extent of directorliability index) and shareholders’ abilityto sue officers and directors for misconduct(ease of shareholder suits index)(table 12.7). The data come from a surveyof corporate lawyers and are based onsecurities regulations, company laws andcourt rules of evidence.To make the data comparable acrosseconomies, several assumptions aboutthe business and the transaction areused.Assumptions about the businessThe business (buyer):• Is a publicly traded corporation listedon the economy’s most importantstock exchange. If the number ofpublicly traded companies listedon that exchange is less than 10, orif there is no stock exchange in theeconomy, it is assumed that buyer is alarge private company with multipleshareholders.• Has a board of directors and achief executive officer (CEO) whomay legally act on behalf of buyerwhere permitted, even if this is notspecifically required by law.• Is a food manufacturer.• Has its own distribution network.Assumptions about thetransaction• Mr. James is buyer’s controllingshareholder and a member of buyer’sboard of directors. He owns 60%of buyer and elected 2 directors tobuyer’s 5-member board.• Mr. James also owns 90% of seller,a company that operates a chain ofretail hardware stores. Seller recentlyclosed a large number of its stores.• Mr. James proposes to buyer thatit purchase seller’s unused fleet oftrucks to expand buyer’s distributionof its food products. Buyer agrees.The price is equal to 10% of buyer’sassets and is higher than the marketvalue.• The proposed transaction is partof the company’s ordinary courseof business and is not outside theauthority of the company.• Buyer enters into the transaction. Allrequired approvals are obtained, andall required disclosures made (that is,the transaction is not fraudulent).• The transaction is unfair to buyer.Shareholders sue Mr. James andthe other parties that approved thetransaction.(c) The International Bank for Reconstruction and Development / The World Bank

DATA NOTES 71Table 12.7What does protecting investors measure?Extent of disclosure index (0–10)• Who can approve related-party transactions• Disclosure requirements in case of related-party transactionsExtent of director liability index (0–10)• Ability of the shareholders to hold the interested party and the approving body liable in case of relatedpartytransactions• Available legal remedies (damages, repayment of profits, fines and imprisonment)• Ability of shareholders to sue directly or derivativelyEase of shareholder suits index (0–10)• Documents and information available during trial• Direct access to internal documents of the company and use of a government inspector without filing asuit in courtStrength of investor protection index (0–10)• Simple average of the extent of disclosure, extent of director liability and ease of shareholder suits indicesSource: Doing Business database.Extent of disclosure indexThe extent of disclosure index has 5components:• What corporate body can providelegally sufficient approval for thetransaction. A score of 0 is assigned ifit is the CEO or the managing directoralone; 1 if the board of directorsor shareholders must vote and Mr.James is permitted to vote; 2 if theboard of directors must vote and Mr.James is not permitted to vote; 3 ifshareholders must vote and Mr. Jamesis not permitted to vote.• Whether immediate disclosure ofthe transaction to the public, theregulator or the shareholders isrequired. A score of 0 is assigned if nodisclosure is required; 1 if disclosureon the terms of the transaction butnot Mr. James’s conflict of interestis required; 2 if disclosure on boththe terms and Mr. James’s conflict ofinterest is required.• Whether disclosure in the annualreport is required. A score of 0 isassigned if no disclosure on thetransaction is required; 1 if disclosureon the terms of the transaction butnot Mr. James’s conflict of interestis required; 2 if disclosure on boththe terms and Mr. James’s conflict ofinterest is required.• Whether disclosure by Mr. James tothe board of directors is required. Ascore of 0 is assigned if no disclosureis required; 1 if a general disclosure ofthe existence of a conflict of interestis required without any specifics; 2if full disclosure of all material factsrelating to Mr. James’s interest in thebuyer-seller transaction is required.• Whether it is required that anexternal body, for example, anexternal auditor, review thetransaction before it takes place. Ascore of 0 is assigned if no; 1 if yes.The index ranges from 0 to 10, withhigher values indicating greater disclosure.In Poland, for example, the boardof directors must approve the transactionand Mr. James is not allowed to vote (ascore of 2). Buyer is required to discloseimmediately all information affecting thestock price, including the conflict of interest(a score of 2). In its annual reportbuyer must also disclose the terms of thetransaction and Mr. James’s ownership inbuyer and seller (a score of 2). Before thetransaction Mr. James must disclose hisconflict of interest to the other directors,but he is not required to provide specificinformation about it (a score of 1). Polanddoes not require an external body to reviewthe transaction (a score of 0). Addingthese numbers gives Poland a score of 7on the extent of disclosure index.Extent of director liabilityindexThe extent of director liability index has7 components:• Whether a shareholder plaintiff isable to hold Mr. James liable fordamage the buyer-seller transactioncauses to the company. A score of 0 isassigned if Mr. James cannot be heldliable or can be held liable only forfraud or bad faith; 1 if Mr. James canbe held liable only if he influencedthe approval of the transaction orwas negligent; 2 if Mr. James canbe held liable when the transactionis unfair or prejudicial to the othershareholders.• Whether a shareholder plaintiff isable to hold the approving body (theCEO or board of directors) liable fordamage the transaction causes to thecompany. A score of 0 is assigned ifthe approving body cannot be heldliable or can be held liable only forfraud or bad faith; 1 if the approvingbody can be held liable for negligence;2 if the approving body can beheld liable when the transaction isunfair or prejudicial to the othershareholders.• Whether a court can void thetransaction upon a successful claimby a shareholder plaintiff. A score of 0is assigned if rescission is unavailableor is available only in case of fraud orbad faith; 1 if rescission is availablewhen the transaction is oppressive orprejudicial to the other shareholders;2 if rescission is available when thetransaction is unfair or entails aconflict of interest.• Whether Mr. James pays damagesfor the harm caused to the companyupon a successful claim by theshareholder plaintiff. A score of 0 isassigned if no; 1 if yes.• Whether Mr. James repays profitsmade from the transaction upon asuccessful claim by the shareholderplaintiff. A score of 0 is assigned if no;1 if yes.(c) The International Bank for Reconstruction and Development / The World Bank

72 Doing Business 2009• Whether fines and imprisonment canbe applied against Mr. James. A scoreof 0 is assigned if no; 1 if yes.• Whether shareholder plaintiffs areable to sue directly or derivatively fordamage the transaction causes to thecompany. A score of 0 is assigned ifsuits are unavailable or are availableonly for shareholders holding morethan 10% of the company’s sharecapital; 1 if direct or derivative suitsare available for shareholders holding10% or less of share capital.The index ranges from 0 to 10, withhigher values indicating greater liabilityof directors. To hold Mr. James liable inPanama, for example, a plaintiff mustprove that Mr. James influenced the approvingbody or acted negligently (a scoreof 1). To hold the other directors liable,a plaintiff must prove that they actednegligently (a score of 1). The unfairtransaction cannot be voided (a score of0). If Mr. James is found liable, he mustpay damages (a score of 1) but he is notrequired to disgorge his profits (a scoreof 0). Mr. James cannot be fined or imprisoned(a score of 0). Direct suits areavailable for shareholders holding 10% orless of share capital (a score of 1). Addingthese numbers gives Panama a score of 4on the extent of director liability index.Ease of shareholder suits indexThe ease of shareholder suits index has 6components:• What range of documents is availableto the shareholder plaintiff from thedefendant and witnesses during trial.A score of 1 is assigned for each ofthe following types of documentsavailable: information that thedefendant has indicated he intends torely on for his defense; informationthat directly proves specific facts inthe plaintiff ’s claim; any informationrelevant to the subject matter ofthe claim; and any information thatmay lead to the discovery of relevantinformation.• Whether the plaintiff can directlyexamine the defendant and witnessesduring trial. A score of 0 is assignedif no; 1 if yes, with prior approval ofthe questions by the judge; 2 if yes,without prior approval.• Whether the plaintiff can obtaincategories of relevant documents fromthe defendant without identifyingeach document specifically. A score of0 is assigned if no; 1 if yes.• Whether shareholders owning 10% orless of the company’s share capital canrequest that a government inspectorinvestigate the buyer-seller transactionwithout filing suit in court. Ascore of 0 is assigned if no; 1 if yes.• Whether shareholders owning10% or less of the company’s sharecapital have the right to inspect thetransaction documents before filingsuit. A score of 0 is assigned if no; 1if yes.• Whether the standard of proof forcivil suits is lower than that for acriminal case. A score of 0 is assignedif no; 1 if yes.The index ranges from 0 to 10, withhigher values indicating greater powersof shareholders to challenge the transaction.In Greece, for example, the plaintiffcan access documents that the defendantintends to rely on for his defense and thatdirectly prove facts in the plaintiff ’s claim(a score of 2). The plaintiff can examinethe defendant and witnesses during trial,though only with prior approval of thequestions by the court (a score of 1). Theplaintiff must specifically identify thedocuments being sought (for example,the buyer-seller purchase agreement ofJuly 15, 2006) and cannot just requestcategories (for example, all documentsrelated to the transaction) (a score of0). A shareholder holding 5% of buyer’sshares can request that a governmentinspector review suspected mismanagementby Mr. James and the CEO withoutfiling suit in court (a score of 1). Anyshareholder can inspect the transactiondocuments before deciding whether tosue (a score of 1). The standard of prooffor civil suits is the same as that for acriminal case (a score of 0). Adding thesenumbers gives Greece a score of 5 on theease of shareholder suits index.Strength of investor protectionindexThe strength of investor protection indexis the average of the extent of disclosureindex, the extent of director liabilityindex and the ease of shareholder suitsindex. The index ranges from 0 to 10,with higher values indicating more investorprotection.The data details on protecting investorscan be found for each economy at http://www.doingbusiness.org. This methodologywas developed in Djankov, La Porta,López-de-Silanes and Shleifer (2008).Paying taxesDoing Business records the taxes andmandatory contributions that a mediumsizecompany must pay in a given year, aswell as measures of the administrativeburden of paying taxes and contributions.Taxes and contributions measuredinclude the profit or corporate incometax, social contributions and labor taxespaid by the employer, property taxes,property transfer taxes, dividend tax,capital gains tax, financial transactionstax, waste collection taxes and vehicleand road taxes.Doing Business measures all taxesand contributions that are governmentmandated (at any level—federal, stateor local), apply to the standardized businessand have an impact in its incomestatements. In doing so, Doing Businessgoes beyond the traditional definitionof a tax: as defined for the purposesof government national accounts, taxesinclude only compulsory, unrequitedpayments to general government (table12.8). Doing Business departs from thisdefinition because it measures imposedcharges that affect business accounts,not government accounts. The main differencesrelate to labor contributionsand value added tax. The Doing Businessmeasure includes governmentmandatedcontributions paid by theemployer to a requited private pensionfund or workers’ insurance fund. The indicatorincludes, for example, Australia’s(c) The International Bank for Reconstruction and Development / The World Bank

DATA NOTES 73Table 12.8What does paying taxes measure?Tax payments for a manufacturing company in 2007 (number per year)• Total number of taxes and contributions paid, including consumption taxes (value added tax, sales tax orgoods and service tax)• Method and frequency of paymentTime required to comply with 3 major taxes (hours per year)• Hours to prepare, file and pay profit taxes, consumption taxes and labor taxes and contributions• Collecting information to compute tax payable• Completing tax return forms, filing with proper agencies• Arranging payment or withholding• Preparing separate tax accounting books, if requiredTotal tax rate (% of profit)• Profit or corporate income tax• Social contributions and labor taxes paid by the employer• Property and property transfer taxes• Dividend, capital gains and financial transactions taxes• Waste collection, vehicle, road and other taxesSource: Doing Business database.compulsory superannuation guaranteeand workers’ compensation insurance.It excludes value added taxes from thetotal tax rate because they do not affectthe accounting profits of the business—that is, they are not reflected in theincome statement.Doing Business has prepared a casescenario to measure the taxes and contributionspaid by a standardized businessand the complexity of an economy’s taxcompliance system. This case scenariouses a set of financial statements and assumptionsabout transactions made overthe year. Tax experts in each economycompute the taxes and contributions duein their jurisdiction based on the standardizedcase facts. Information is alsocompiled on the frequency of filing, taxaudits and other costs of compliance.The project was developed and implementedin cooperation with PricewaterhouseCoopers.To make the data comparable acrosseconomies, several assumptions aboutthe business and the taxes and contributionsare used.Assumptions about the businessThe business:• Is a limited liability, taxable company.If there is more than one type oflimited liability company in theeconomy, the limited liability formmost popular among domestic firmsis chosen. The most popular form isreported by incorporation lawyers orthe statistical office.• Started operations on January 1, 2006.At that time the company purchasedall the assets shown in its balancesheet and hired all its workers.• Operates in the economy’s largestbusiness city.• Is 100% domestically owned and has5 owners, all of whom are naturalpersons.• Has a start-up capital of 102 timesincome per capita at the end of 2006.• Performs general industrial orcommercial activities. Specifically, itproduces ceramic flowerpots and sellsthem at retail. It does not participatein foreign trade (no import or export)and does not handle products subjectto a special tax regime, for example,liquor or tobacco.• At the beginning of 2007, owns 2plots of land, 1 building, machinery,office equipment, computers and 1truck and leases 1 truck.• Does not qualify for investmentincentives or any benefits apart fromthose related to the age or size of thecompany.• Has 60 employees—4 managers, 8assistants and 48 workers. All arenationals, and 1 manager is also anowner.• Has a turnover of 1,050 times incomeper capita.• Makes a loss in the first year ofoperation.• Has a gross margin (pretax) of 20%(that is, sales are 120% of the cost ofgoods sold).• Distributes 50% of its net profits asdividends to the owners at the end ofthe second year.• Sells one of its plots of land at a profitduring the second year.• Has annual fuel costs for its trucksequal to twice income per capita.• Is subject to a series of detailedassumptions on expenses andtransactions to further standardizethe case. All financial statementvariables are proportional to 2005income per capita. For example, theowner who is also a manager spends10% of income per capita on travelingfor the company (20% of this owner’sexpenses are purely private, 20% arefor entertaining customers and 60%for business travel).Assumptions about the taxesand contributions• All the taxes and contributions paidin the second year of operation(fiscal 2007) are recorded. A tax orcontribution is considered distinct ifit has a different name or is collectedby a different agency. Taxes andcontributions with the same nameand agency, but charged at differentrates depending on the business,are counted as the same tax orcontribution.• The number of times the companypays taxes and contributions in ayear is the number of different taxesor contributions multiplied by thefrequency of payment (or withholding)for each one. The frequency ofpayment includes advance payments(or withholding) as well as regularpayments (or withholding).(c) The International Bank for Reconstruction and Development / The World Bank

74 Doing Business 2009Tax paymentsThe tax payments indicator reflects thetotal number of taxes and contributionspaid, the method of payment, the frequencyof payment and the number ofagencies involved for this standardizedcase during the second year of operation.It includes consumption taxes paid bythe company, such as sales tax or valueadded tax. These taxes are traditionallycollected from the consumer on behalfof the tax agencies. Although they donot affect the income statements of thecompany, they add to the administrativeburden of complying with the tax systemand so are included in the tax paymentsmeasure.The number of payments takes intoaccount electronic filing. Where full electronicfiling and payment is allowed andit is used by the majority of medium-sizebusinesses, the tax is counted as paidonce a year even if payments are morefrequent. For taxes paid through thirdparties, such as tax on interest withheldat source by a financial institution or fueltax paid by the fuel distributor, only onepayment is included even if paymentsare more frequent. These are taxes withheldor paid at source where no filing isrequired of the company.Where 2 or more taxes or contributionsare filed for and paid jointly usingthe same form, each of these joint paymentsis counted once. For example, ifmandatory health insurance contributionsand mandatory pension contributionsare filed for and paid together,only one of these contributions would beincluded in the number of payments.TimeTime is recorded in hours per year. Theindicator measures the time taken toprepare, file and pay 3 major types oftaxes and contributions: the corporateincome tax, value added or sales tax andlabor taxes, including payroll taxes andsocial contributions. Preparation timeincludes the time to collect all informationnecessary to compute the tax payable.If separate accounting books mustbe kept for tax purposes—or separatecalculations made—the time associatedwith these processes is included. Thisextra time is included only if the regularaccounting work is not enough to fulfillthe tax accounting requirements. Filingtime includes the time to complete allnecessary tax return forms and makeall necessary calculations. Payment timeconsiders the hours needed to make thepayment online or at the tax authorities.Where taxes and contributions are paidin person, the time includes delays whilewaiting.Total tax rateThe total tax rate measures the amountof taxes and mandatory contributionsborne by the business in the second yearof operation, expressed as a share ofcommercial profit. Doing Business 2009reports the total tax rate for fiscal 2007.The total amount of taxes borne is thesum of all the different taxes and contributionspayable after accounting forallowable deductions and exemptions.The taxes withheld (such as personalincome tax) or collected by the companyand remitted to the tax authorities (suchas value added tax, sales tax or goodsand service tax) but not borne by thecompany are excluded. The taxes includedcan be divided into 5 categories:profit or corporate income tax, socialcontributions and labor taxes paid by theemployer (in respect of which all mandatorycontributions are included, even ifpaid to a private entity such as a requitedpension fund), property taxes, turnovertaxes and other small taxes (such as municipalfees and vehicle and fuel taxes).The total tax rate is designed to providea comprehensive measure of the costof all the taxes a business bears. It differsfrom the statutory tax rate, which merelyprovides the factor to be applied to thetax base. In computing the total tax rate,the actual tax payable is divided by commercialprofit. Data for Sweden illustratethis (table 12.9).Commercial profit is essentially netprofit before all taxes borne. It differsfrom the conventional profit before tax,reported in financial statements. In computingprofit before tax, many of thetaxes borne by a firm are deductible.In computing commercial profit, thesetaxes are not deductible. Commercialprofit therefore presents a clear pictureof the actual profit of a business beforeany of the taxes it bears in the course ofthe fiscal year.Commercial profit is computed assales minus cost of goods sold, minusgross salaries, minus administrative expenses,minus other expenses, minusprovisions, plus capital gains (from theproperty sale) minus interest expense,plus interest income and minus com-Table 12.9Computing the total tax rate for SwedenStatutory rate(r)Statutory tax base(b)Actual tax payable(a)a = r x bCommercial profit 1(c)Type of tax (tax base) SKr SKr SKrTotal tax rate(t)t = a/cCorporate income tax (taxable income) 28% 10,352,253 2,898,631 17,619,223 16.50%Real estate tax (land and buildings) 0.38% 26,103,545 97,888 17,619,223 0.60%Payroll tax (taxable wages) 32.28% 19,880,222 6,417,336 17,619,223 36.40%Fuel tax (fuel price) SKr 3.665 per liter 53,505 liters 196,095 17,619,223 1.10%TOTAL 9,609,950 54.50%1. Profit before all taxes borne.Source: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

DATA NOTES 75mercial depreciation. To compute thecommercial depreciation, a straight-linedepreciation method is applied, with thefollowing rates: 0% for the land, 5% forthe building, 10% for the machinery,33% for the computers, 20% for the officeequipment, 20% for the truck and10% for business development expenses.Commercial profit amounts to 59.4 timesincome per capita.This methodology is consistent withthe Total Tax Contribution frameworkdeveloped by PricewaterhouseCoopers.This framework measures taxes that areborne by companies and affect their incomestatements, as does Doing Business.But while PricewaterhouseCoopersbases its calculation on data fromthe largest companies in the economy,Doing Business focuses on a standardizedmedium-size company.The data details on paying taxes can befound for each economy at http://www.doingbusiness.org. This methodology wasdeveloped in Djankov, Ganser, McLiesh,Ramalho and Shleifer (2008).Trading across bordersDoing Business compiles procedural requirementsfor exporting and importinga standardized cargo of goods by oceantransport (table 12.10). Every officialprocedure for exporting and importingthe goods is recorded—from the contractualagreement between the 2 partiesto the delivery of goods—along with thetime and cost necessary for completion.All documents needed by the traderfor clearance of the goods across theborder are also recorded. For exportinggoods, procedures range from packingthe goods at the factory to their departurefrom the port of exit. For importinggoods, procedures range from the vessel’sarrival at the port of entry to the cargo’sdelivery at the factory warehouse. Thetime and cost for ocean transport are notincluded. Payment is made by letter ofcredit, and the time, cost and documentsrequired for the issuance of a letter ofcredit are taken into account.Local freight forwarders, shippinglines, customs brokers, port officials andbanks provide information on requireddocuments and cost as well as the timeto complete each procedure. To makethe data comparable across economies,several assumptions about the businessand the traded goods are used.Assumptions about the businessThe business:• Has 60 employees.• Is located in the economy’s largestbusiness city.• Is a private, limited liability company.It does not operate in an exportprocessing zone or an industrialestate with special export or importprivileges.• Is domestically owned with no foreignownership.• Exports more than 10% of its sales.Assumptions about the tradedgoodsThe traded product travels in a drycargo,20-foot, full container load. Itweighs 10 tons and is valued at $20,000.The product:• Is not hazardous nor does it includemilitary items.• Does not require refrigeration or anyother special environment.• Does not require any specialphytosanitary or environmentalsafety standards other than acceptedinternational standards.DocumentsAll documents required per shipmentto export and import the goods are recorded.It is assumed that the contracthas already been agreed upon and signedby both parties. Documents required forclearance by government ministries, customsauthorities, port and container terminalauthorities, health and technicalcontrol agencies and banks are taken intoaccount. Since payment is by letter ofcredit, all documents required by banksfor the issuance or securing of a letter ofcredit are also taken into account. Documentsthat are renewed at least annuallyTable 12.10What does trading across bordersmeasure?Documents required to export and import(number)• Bank documents• Customs clearance documents• Port and terminal handling documents• Transport documentsTime required to export and import (days)• Obtaining all the documents• Inland transport• Customs clearance and inspections• Port and terminal handling• Does not include ocean transport timeCost required to export and import(US$ per container)• Obtaining all the documents• Inland transport• Customs clearance and inspections• Port and terminal handling• Official costs only, no bribes or tariffsSource: Doing Business database.and that do not require renewal per shipment(for example, an annual tax clearancecertificate) are not included.TimeThe time for exporting and importingis recorded in calendar days. The timecalculation for a procedure starts from themoment it is initiated and runs until it iscompleted. If a procedure can be acceleratedfor an additional cost and is availableto all trading companies, the fastest legalprocedure is chosen. Fast-track proceduresapplying to firms located in an exportprocessing zone are not taken into accountbecause they are not available to alltrading companies. Ocean transport timeis not included. It is assumed that neitherthe exporter nor the importer wastes timeand that each commits to completingeach remaining procedure without delay.Procedures that can be completed in parallelare measured as simultaneous. Thewaiting time between procedures—forexample, during unloading of the cargo—is included in the measure.(c) The International Bank for Reconstruction and Development / The World Bank

76 Doing Business 2009CostCost measures the fees levied on a 20-footcontainer in U.S. dollars. All the fees associatedwith completing the procedures toexport or import the goods are included.These include costs for documents, administrativefees for customs clearanceand technical control, terminal handlingcharges and inland transport. The costmeasure does not include customs tariffsand duties or costs related to ocean transport.Only official costs are recorded.The data details on trading across borderscan be found for each economy at http://www.doingbusiness.org. This methodologywas developed in Djankov, Freundand Pham (forthcoming) and is adoptedhere with minor changes.Enforcing contractsIndicators on enforcing contracts measurethe efficiency of the judicial systemin resolving a commercial dispute (table12.11). The data are built by followingthe step-by-step evolution of a commercialsale dispute before local courts. Thedata are collected through study of thecodes of civil procedure and other courtregulations as well as surveys completedby local litigation lawyers (and, in aquarter of the economies, by judges aswell). The name of the relevant court ineach economy—the court in the largestbusiness city with jurisdiction overcommercial cases worth 200% of incomeper capita—is published at http://www.doingbusiness.org.Assumptions about the case• The value of the claim equals 200% ofthe economy’s income per capita.• The dispute concerns a lawfultransaction between 2 businesses(Seller and Buyer), located in theeconomy’s largest business city.Seller sells goods worth 200% of theeconomy’s income per capita to Buyer.After Seller delivers the goods to Buyer,Buyer refuses to pay for the goods onthe grounds that the delivered goodswere not of adequate quality.• Seller sues Buyer to recover theamount under the sales agreement(that is, 200% of the economy’sincome per capita). Buyer opposesSeller’s claim, saying that the qualityof the goods is not adequate. Theclaim is disputed on the merits.• A court in the economy’s largestbusiness city with jurisdiction overcommercial cases worth 200% ofincome per capita decides the dispute.• Seller attaches Buyer’s goods priorto obtaining a judgment becauseSeller fears that Buyer may becomeinsolvent during the lawsuit.• Expert opinions are given on thequality of the delivered goods. If itis standard practice in the economyfor parties to call witnesses or expertwitnesses to give an opinion on thequality of the goods, the parties eachcall one witness or expert witness. Ifit is standard practice for the judgeto appoint an independent expert togive an expert opinion on the qualityof the goods, the judge does so. Inthis case the judge does not allowopposing expert testimony.• The judgment is 100% in favor ofSeller: the judge decides that thegoods are of adequate quality andthat Buyer must pay the agreed price(200% of income per capita).• Buyer does not appeal the judgment.The judgment becomes final.• Seller takes all required steps forprompt enforcement of the judgment.The money is successfully collectedthrough a public sale of Buyer’smovable assets (for example, officeequipment).ProceduresThe list of procedural steps compiledfor each economy traces the chronologyof a commercial dispute before therelevant court. A procedure is definedas any interaction between the parties,or between them and the judge or courtofficer. This includes steps to file the case,steps for trial and judgment and stepsnecessary to enforce the judgment.The survey allows respondents torecord procedures that exist in civil lawbut not common law jurisdictions, andvice versa. For example, in civil lawcountries the judge can appoint an independentexpert, while in common lawcountries each party submits a list ofexpert witnesses to the court. To indicatethe overall efficiency of court procedures,1 procedure is now subtracted for economiesthat have specialized commercialcourts and 1 procedure for economiesthat allow electronic filing of court cases.Procedural steps that take place simultaneouslywith or are included in otherprocedural steps are not counted in thetotal number of procedures.TimeTime is recorded in calendar days,counted from the moment Seller filesthe lawsuit in court until payment. Thisincludes both the days when actions takeplace and the waiting periods between.The average duration of different stagesof dispute resolution is recorded: thecompletion of filing and service of processand of pretrial attachment (time tofile the case), the issuance of judgment(time for the trial and obtaining thejudgment) and the moment of payment(time for enforcement of judgment).Table 12.11What does enforcing contracts measure?Procedures to enforce a contract (number)• Any interaction between the parties in acommercial dispute, or between them and thejudge or court officer• Steps to file the case• Steps for trial and judgment• Steps to enforce the judgmentTime required to complete each procedure(calendar days)• Measured in calendar days• Time to file the case• Time for trial and obtaining judgment• Time to enforce the judgmentCost required to complete each procedure(% of claim)• No bribes• Average attorney fees• Court costs, including expert fees• Enforcement costsSource: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

DATA NOTES 77CostCost is recorded as a percentage of theclaim, assumed to be equivalent to 200%of income per capita. No bribes are recorded.Three types of costs are recorded:court costs, enforcement costs and averageattorney fees. Court costs include allcosts Seller must advance to the court orto the expert regardless of the final costto Seller. Expert fees, if required by lawor necessary in practice, are includedin court costs. Enforcement costs are allcosts Seller must advance to enforce thejudgment through a public sale of Buyer’smovable assets, regardless of the finalcost to Seller. Average attorney fees arethe fees Seller must advance to a localattorney to represent Seller in the standardizedcase.The data details on enforcing contractscan be found for each economy at http://www.doingbusiness.org. This methodologywas developed in Djankov and others(2003) and is adopted here with minorchanges.Closing a businessDoing Business studies the time, costand outcomes of bankruptcy proceedingsinvolving domestic entities (table12.12). The data are derived from surveyresponses by local insolvency practitionersand verified through a study of lawsand regulations as well as public informationon bankruptcy systems.To make the data comparable acrosseconomies, several assumptions aboutthe business and the case are used.Assumptions about the businessThe business:• Is a limited liability company.• Operates in the economy’s largestbusiness city.• Is 100% domestically owned, with thefounder, who is also the chairman ofthe supervisory board, owning 51%(no other shareholder holds morethan 5% of shares).• Has downtown real estate, where itruns a hotel, as its major asset.• Has a professional general manager.• Has had average annual revenue of1,000 times income per capita overthe past 3 years.• Has 201 employees and 50 suppliers,each of which is owed money for thelast delivery.• Borrowed from a domestic bank5 years ago (the loan has 10 yearsto full repayment) and bought realestate (the hotel building), using it assecurity for the bank loan.• Has observed the payment scheduleand all other conditions of the loanup to now.• Has a floating charge or mortgage,with the value of its principal beingexactly equal to the market value ofthe hotel.Assumptions about the caseThe business is experiencing liquidityproblems. The company’s loss in 2007reduced its net worth to a negative figure.There is no cash to pay the bank interestor principal in full, due tomorrow. Thebusiness therefore defaults on its loan.Management believes that losses will beincurred in 2008 and 2009 as well.The bank holds a floating chargeagainst the hotel in economies wherefloating charges are possible. If the lawdoes not permit a floating charge butcontracts commonly use some other provisionto that effect, this provision isspecified in the lending contract.The business has too many creditorsto negotiate an informal out-of-courtworkout. It has the following options: ajudicial procedure aimed at the rehabilitationor reorganization of the business topermit its continued operation; a judicialprocedure aimed at the liquidation orwinding-up of the company; or a debt enforcementor foreclosure procedure aimedat selling the hotel either piecemeal or asa going concern, enforced either in court(or through a government authority like adebt collection agency) or out of court (forexample, by appointing a receiver).If an economy has had fewer than 5cases a year over the past 5 years involvinga judicial reorganization, judicial liquidationor debt enforcement procedure,the economy receives a “no practice”mark. This means that creditors are unlikelyto recover their debt through thelegal process (in or out of court).TimeTime for creditors to recover their debt isrecorded in calendar years. Informationis collected on the sequence of proceduresand on whether any procedurescan be carried out simultaneously. Potentialdelay tactics by the parties, such asthe filing of dilatory appeals or requestsfor extension, are taken into consideration.CostThe cost of the proceedings is recordedas a percentage of the estate’s value. Thecost is calculated on the basis of surveyresponses by insolvency practitionersand includes court fees as well as feesof insolvency practitioners, independentassessors, lawyers and accountants. Respondentsprovide cost estimates fromamong the following options: a specificpercentage or less than 2%, 2–5%, 5–8%,8–11%, 11–18%, 18–25%, 25–33%,33–50%, 50–75% and more than 75% ofthe value of the business estate.Table 12.12What does closing a business measure?Time required to recover debt (years)• Measured in calendar years• Appeals and requests for extension are includedCost required to recover debt (% of estate)• Measured as percentage of estate value• Court fees• Lawyers’ fees• Independent assessors’ fees• Accountants’ feesRecovery rate for creditors (cents on the dollar)• Measures the cents on the dollar recovered bycreditors• Present value of debt recovered• Official costs of the insolvency proceedings arededucted• Depreciation of assets is taken into account• Outcome for the business affects the maximumvalue that can be recoveredSource: Doing Business database.(c) The International Bank for Reconstruction and Development / The World Bank

78 Doing Business 2009Recovery rateThe recovery rate is recorded as cents onthe dollar recouped by creditors throughthe bankruptcy, insolvency or debt enforcementproceedings. The calculationtakes into account whether the businessemerges from the proceedings as a goingconcern as well as costs and the loss invalue due to the time spent closing down.If the business keeps operating, no valueis lost on the initial claim, set at 100 centson the dollar. If it does not, the initial100 cents on the dollar are reduced to 70cents on the dollar. Then the official costsof the insolvency procedure are deducted(1 cent for each percentage of the initialvalue). Finally, the value lost as a resultof the time the money remains tied upin insolvency proceedings is taken intoaccount, including the loss of value dueto depreciation of the hotel furniture.Consistent with international accountingpractice, the depreciation rate for furnitureis taken to be 20%. The furniture isassumed to account for a quarter of thetotal value of assets. The recovery rate isthe present value of the remaining proceeds,based on end-2007 lending ratesfrom the International Monetary Fund’sInternational Financial Statistics, supplementedwith data from central banks.The recovery rate for economies with “nopractice” is zero.notes1. The data for paying taxes refer toJanuary–December 2007.2. These are available at http://www.subnational.doingbusiness.org.3. The average value added per worker is theratio of an economy’s GNI per capita tothe working-age population as a percentageof the total population.This methodology was developed inDjankov and others (2006).(c) The International Bank for Reconstruction and Development / The World Bank

Ease of doingbusinessThe ease of doing business index rankseconomies from 1 to 181. For eacheconomy the index is calculated as theranking on the simple average of itspercentile rankings on each of the 10topics covered in Doing Business 2009.The ranking on each topic is the simpleaverage of the percentile rankings on itscomponent indicators (table 13.1).If an economy has no laws or regulationscovering a specific area—forexample, bankruptcy—it receives a “nopractice” mark. Similarly, an economyreceives a “no practice” or “not possible”mark if regulation exists but is neverused in practice or if a competing regulationprohibits such practice. Eitherway, a “no practice” or “not possible”mark puts the economy at the bottom ofthe ranking on the relevant indicator.Here is one example of how theranking is constructed. In Iceland ittakes 5 procedures, 5 days and 2.6%of annual income per capita in fees toopen a business. The minimum capitalrequired amounts to 13.6% of incomeper capita. On these 4 indicators Icelandranks in the 9th, 3rd, 13th and 58thpercentiles. So on average Iceland ranksin the 21st percentile on the ease ofstarting a business. It ranks in the 48thpercentile on protecting investors, 26thpercentile on trading across borders,8th percentile on enforcing contracts,8th percentile on closing a business andso on. Higher rankings indicate simplerregulation and stronger protection ofproperty rights. The simple average ofIceland’s percentile rankings on all topicsis 23%. When all economies are orderedby their average percentile rank,Iceland is in 11th place.More complex aggregation methods—such as principal components andunobserved components—yield anearly identical ranking. 1 The choice ofaggregation method has little influenceon the rankings because the 10 sets ofindicators in Doing Business providesufficiently broad coverage across topics.So Doing Business uses the simplestmethod.The ease of doing business indexis limited in scope. It does not accountfor an economy’s proximity tolarge markets, the quality of its infrastructureservices (other than servicesrelated to trading across borders orconstruction permits), the security ofproperty from theft and looting, macroeconomicconditions or the strength ofunderlying institutions. There remainsa large unfinished agenda for researchinto what regulation constitutes bindingconstraints, what package of reforms ismost effective and how these issues areshaped by the context of an economy.The Doing Business indicators providea new empirical data set that may improveunderstanding of these issues.Doing Business also uses a simplemethod to calculate the top reformers.Table 13.1Which indicators make up the ranking?Starting a businessProcedures, time, cost and paid-in minimumcapital to open a new businessDealing with construction permitsProcedures, time and cost to obtain constructionpermits, inspections and utility connectionsEmploying workersDifficulty of hiring index, rigidity of hours index,difficulty of firing index, firing costRegistering propertyProcedures, time and cost to transfer commercialreal estateGetting creditStrength of legal rights index, depth of creditinformation index79First, it selects the economies that implementedreforms making it easier todo business in 3 or more of the 10 DoingBusiness topics. One reform is countedper topic. For example, if an economymerged several procedures by creating aunified property registry and separatelyreduced the property transfer tax, thiscounts as 1 reform for the purposes ofattaining the 3 reforms required to be acandidate for top reformer. This year 33economies met this criterion: Albania,Azerbaijan, Belarus, Bosnia and Herzegovina,Botswana, Bulgaria, BurkinaFaso, China, Colombia, the Czech Republic,the Dominican Republic, Egypt,Georgia, Greece, the Kyrgyz Republic,Liberia, the former Yugoslav Republicof Macedonia, Madagascar, Mauritius,Morocco, Mozambique, New Zealand,Portugal, Rwanda, Saudi Arabia, Senegal,Sierra Leone, Slovenia, Thailand,Tunisia, Ukraine, Uruguay and Zambia(table 13.2).Second, Doing Business ranks theseeconomies on the increase in theirranking on the ease of doing businessfrom the previous year. For example,Albania, Burkina Faso and Rwanda eachreformed in 4 aspects of business regulation.Albania’s aggregate ranking onthe ease of doing business improvedfrom 135 to 86, Burkina Faso’s from 164to 148 and Rwanda’s from 148 to 139.These changes represent an improve-Protecting investorsStrength of investor protection index: extent ofdisclosure index, extent of director liability indexand ease of shareholder suits indexPaying taxesNumber of tax payments, time to prepare and filetax returns and to pay taxes, total taxes as a shareof profit before all taxes borneTrading across bordersDocuments, time and cost to export and importEnforcing contractsProcedures, time and cost to resolve acommercial disputeClosing a businessRecovery rate in bankruptcy(c) The International Bank for Reconstruction and Development / The World Bank

80 Doing Business 2009ment in the ranking by 49 places, 16places and 9 places, respectively. Albaniatherefore ranks ahead of BurkinaFaso in the list of top 10 reformers.Rwanda does not make the list.In summary, top reformers areeconomies that have implemented 3or more reforms making it easier to dobusiness and, as a result, improved theirposition in the ease of doing businessmore than other economies. The changein ranking is calculated by comparingthis year’s ranking with last year’s backcalculatedranking. To ensure consistencyover time, data sets for previousyears are adjusted to reflect any changesin methodology, additions of new economiesand revisions in data.note1. See Djankov and others (2005).(c) The International Bank for Reconstruction and Development / The World Bank

ease of doing business 81Table 13.2EconomyAfghanistanStarting abusinessDealing withconstruction Employingpermits workersRegisteringpropertyReforms in 2007/08GettingcreditProtectinginvestorsAlbania 4 4 4 4PayingtaxesTradingacrossbordersEnforcingcontractsAlgeriaAngola 4 4Antigua and Barbuda 4Argentina 4Armenia 4 4AustraliaAustria 4Azerbaijan 4 4 4 4 4 4 4Bahamas, TheBahrainBangladesh 4 4Belarus 4 4 4 4 4 4Belgium 4BelizeBenin 7 4Bhutan 4Bolivia 7Bosnia and Herzegovina 4 4 4 4Botswana 4 4 7 4Brazil 4BruneiBulgaria 4 7 4 4 4Burkina Faso 4 4 4 4BurundiCambodia 4 4Cameroon 4Canada 4 4Cape Verde 7Central African Republic 4Chad 4ChileChina 7 4 4 4Colombia 4 4 4 4 4ComorosCongo, Dem. Rep.Congo, Rep. 4 4Costa Rica 4Côte d’Ivoire 4Croatia 4 4Czech Republic 4 4 4 4Denmark 4Djibouti 4DominicaDominican Republic 4 4 4 4Ecuador 4Egypt 4 4 4 4 4 4El Salvador 4 44 Reforms making it easier to do business 7 Reforms making it more difficult to do businessClosing abusiness(c) The International Bank for Reconstruction and Development / The World Bank

82 Doing Business 2009EconomyStarting abusinessDealing withconstruction Employingpermits workersRegisteringpropertyReforms in 2007/08GettingcreditProtectinginvestorsPayingtaxesEquatorial Guinea 4 7Eritrea 4TradingacrossbordersEnforcingcontractsEstoniaEthiopiaFiji 7 7Finland 4 4France 4 4Gabon 4 7Gambia, The 7Georgia 4 4 4 4Germany 4 4Ghana 4Greece 4 4 4 4GrenadaGuatemala 4GuineaGuinea-BissauGuyanaHaiti 4Honduras 4 4Hong Kong, China 4 4Hungary 4 4IcelandIndia 4Indonesia 7 4IranIraqIrelandIsraelItaly 4 7 4Jamaica 4 4JapanJordan 4Kazakhstan 7 4 4Kenya 4 4KiribatiKorea 7 4KuwaitKyrgyz Republic 4 4 4Lao PDRLatvia 4 4Lebanon 4Lesotho 4Liberia 4 4 4 4Lithuania 4LuxembourgMacedonia, former 4 4 4 4 4 4Yugoslav Republic ofMadagascar 4 4 4 4Malawi4 Reforms making it easier to do business 7 Reforms making it more difficult to do businessClosing abusiness(c) The International Bank for Reconstruction and Development / The World Bank

ease of doing business 83EconomyStarting abusinessDealing withconstruction Employingpermits workersRegisteringpropertyReforms in 2007/08GettingcreditProtectinginvestorsMalaysia 4 4PayingtaxesTradingacrossbordersEnforcingcontractsMaldivesMali 4Marshall IslandsMauritania 4 4Mauritius 4 4 4Mexico 4 4MicronesiaMoldova 4 4Mongolia 4 4Montenegro 7 4Morocco 4 4 4Mozambique 4 4 4Namibia 4NepalNetherlandsNew Zealand 4 4 4NicaraguaNigerNigeria 4NorwayOman 4PakistanPalau 4Panama 4Papua New GuineaParaguayPeruPhilippines 4Poland 4Portugal 4 4 4Puerto RicoQatarRomania 4Russian FederationRwanda 4 4 4 4Samoa 4São Tomé and PrincipeSaudi Arabia 4 4 4 4Senegal 4 4 4Serbia 7 4SeychellesSierra Leone 4 4 4 4Singapore 4 4Slovakia 4Slovenia 4 4 4Solomon IslandsSouth Africa 4 4SpainSri Lanka 44 Reforms making it easier to do business 7 Reforms making it more difficult to do businessClosing abusiness(c) The International Bank for Reconstruction and Development / The World Bank

84 Doing Business 2009EconomyStarting abusinessDealing withconstruction Employingpermits workersRegisteringpropertyReforms in 2007/08GettingcreditProtectinginvestorsPayingtaxesTradingacrossbordersEnforcingcontractsSt. Kitts and NevisSt. LuciaSt. Vincent and the Grenadines 4 4SudanSurinameSwazilandSweden 7Switzerland 7Syria 4 4Taiwan, China 4Tajikistan 7 4TanzaniaThailand 4 4 4 4Timor-LesteTogoTonga 4 4Trinidad and TobagoTunisia 4 4 4 4 7Turkey 4UgandaUkraine 7 4 4 4United Arab Emirates 4United Kingdom 7United StatesUruguay 4 4 4Uzbekistan 4Vanuatu 4Venezuela 7Vietnam 4West Bank and Gaza 4 7 4Yemen 4Zambia 4 4 4Zimbabwe 74 Reforms making it easier to do business 7 Reforms making it more difficult to do businessClosing abusiness(c) The International Bank for Reconstruction and Development / The World Bank

(c) The International Bank for Reconstruction and Development / The World BankCountrytables

86 Doing Business 2009AFGHANISTAN South Asia GNI per capita (US$) 370Ease of doing business (rank) 162 Low income Population (m) 24.8Starting a business (rank) 22 Registering property (rank) 174 Trading across borders (rank) 179Procedures (number) 4 Procedures (number) 9 Documents to export (number) 12Time (days) 9 Time (days) 250 Time to export (days) 74Cost (% of income per capita) 59.5 Cost (% of property value) 7.0 Cost to export (US$ per container) 3,000Minimum capital (% of income per capita) 0.0 Documents to import (number) 11Getting credit (rank) 178 Time to import (days) 77Dealing with construction permits (rank) 140 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 2,600Procedures (number) 13 Depth of credit information index (0-6) 0Time (days) 340 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 160Cost (% of income per capita) 14,918.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 47Time (days) 1,642Employing workers (rank) 30 Protecting investors (rank) 181 Cost (% of claim) 25.0Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 0Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 0 Closing a business (rank) 181Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 2 Time (years) No practiceRigidity of employment index (0-100) 27 Strength of investor protection index (0-10) 0.7 Cost (% of estate) No practiceFiring cost (weeks of salary) 0 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 49Payments (number per year) 8Time (hours per year) 275Total tax rate (% of profit) 36.4ALBANIA Eastern Europe & Central Asia GNI per capita (US$) 3,290Ease of doing business (rank) 86 Lower middle income Population (m) 3.2Starting a business (rank) 67 Registering property (rank) 62 Trading across borders (rank) 77Procedures (number) 6 Procedures (number) 6 Documents to export (number) 7Time (days) 8 Time (days) 42 Time to export (days) 21Cost (% of income per capita) 25.8 Cost (% of property value) 3.4 Cost to export (US$ per container) 770Minimum capital (% of income per capita) 32.3 Documents to import (number) 9Getting credit (rank) 12 Time to import (days) 22Dealing with construction permits (rank) 170 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 775Procedures (number) 24 Depth of credit information index (0-6) 4Time (days) 331 Public registry coverage (% of adults) 8.3 Enforcing contracts (rank) 89Cost (% of income per capita) 435.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 390Employing workers (rank) 108 Protecting investors (rank) 14 Cost (% of claim) 38.7Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 9 Closing a business (rank) 181Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 5 Time (years) No practiceRigidity of employment index (0-100) 35 Strength of investor protection index (0-10) 7.3 Cost (% of estate) No practiceFiring cost (weeks of salary) 56 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 143Payments (number per year) 44Time (hours per year) 244Total tax rate (% of profit) 50.5ALGERIA Middle East & North Africa GNI per capita (US$) 3,620Ease of doing business (rank) 132 Lower middle income Population (m) 33.9Starting a business (rank) 141 Registering property (rank) 162 Trading across borders (rank) 118Procedures (number) 14 Procedures (number) 14 Documents to export (number) 8Time (days) 24 Time (days) 51 Time to export (days) 17Cost (% of income per capita) 10.8 Cost (% of property value) 7.5 Cost to export (US$ per container) 1,248Minimum capital (% of income per capita) 36.6 Documents to import (number) 9Getting credit (rank) 131 Time to import (days) 23Dealing with construction permits (rank) 112 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,428Procedures (number) 22 Depth of credit information index (0-6) 2Time (days) 240 Public registry coverage (% of adults) 0.2 Enforcing contracts (rank) 126Cost (% of income per capita) 46.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 47Time (days) 630Employing workers (rank) 118 Protecting investors (rank) 70 Cost (% of claim) 21.9Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 6 Closing a business (rank) 49Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 4 Time (years) 2.5Rigidity of employment index (0-100) 48 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 7Firing cost (weeks of salary) 17 Recovery rate (cents on the dollar) 41.7Paying taxes (rank) 166Payments (number per year) 34Time (hours per year) 451Total tax rate (% of profit) 74.2(c) The International Bank for Reconstruction and Development / The World Bank

country tables 87ANGOLA Sub-Saharan Africa GNI per capita (US$) 2,560Ease of doing business (rank) 168 Lower middle income Population (m) 17.0Starting a business (rank) 156 Registering property (rank) 173 Trading across borders (rank) 172Procedures (number) 8 Procedures (number) 7 Documents to export (number) 12Time (days) 68 Time (days) 334 Time to export (days) 68Cost (% of income per capita) 196.8 Cost (% of property value) 11.6 Cost to export (US$ per container) 2,250Minimum capital (% of income per capita) 39.1 Documents to import (number) 9Getting credit (rank) 84 Time to import (days) 62Dealing with construction permits (rank) 125 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 3,325Procedures (number) 12 Depth of credit information index (0-6) 4Time (days) 328 Public registry coverage (% of adults) 2.7 Enforcing contracts (rank) 179Cost (% of income per capita) 831.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 46Time (days) 1,011Employing workers (rank) 174 Protecting investors (rank) 53 Cost (% of claim) 44.4Difficulty of hiring index (0-100) 67 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 6 Closing a business (rank) 142Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 6 Time (years) 6.2Rigidity of employment index (0-100) 66 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 22Firing cost (weeks of salary) 58 Recovery rate (cents on the dollar) 10.0Paying taxes (rank) 130Payments (number per year) 31Time (hours per year) 272Total tax rate (% of profit) 53.2ANTIGUA AND BARBUDA Latin America & Caribbean GNI per capita (US$) 11,520Ease of doing business (rank) 42 High income Population (m) 0.1Starting a business (rank) 45 Registering property (rank) 97 Trading across borders (rank) 46Procedures (number) 8 Procedures (number) 6 Documents to export (number) 5Time (days) 21 Time (days) 26 Time to export (days) 15Cost (% of income per capita) 11.6 Cost (% of property value) 10.9 Cost to export (US$ per container) 1,133Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 109 Time to import (days) 15Dealing with construction permits (rank) 22 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,133Procedures (number) 13 Depth of credit information index (0-6) 0Time (days) 156 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 73Cost (% of income per capita) 25.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 45Time (days) 351Employing workers (rank) 46 Protecting investors (rank) 24 Cost (% of claim) 22.7Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 8 Closing a business (rank) 61Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 7 Time (years) 3.0Rigidity of employment index (0-100) 10 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 7Firing cost (weeks of salary) 52 Recovery rate (cents on the dollar) 35.5Paying taxes (rank) 136Payments (number per year) 56Time (hours per year) 207Total tax rate (% of profit) 46.8ARGENTINA Latin America & Caribbean GNI per capita (US$) 6,050Ease of doing business (rank) 113 Upper middle income Population (m) 39.5Starting a business (rank) 135 Registering property (rank) 95 Trading across borders (rank) 106Procedures (number) 15 Procedures (number) 5 Documents to export (number) 9Time (days) 32 Time (days) 51 Time to export (days) 13Cost (% of income per capita) 9.0 Cost (% of property value) 7.5 Cost to export (US$ per container) 1,480Minimum capital (% of income per capita) 3.7 Documents to import (number) 7Getting credit (rank) 59 Time to import (days) 18Dealing with construction permits (rank) 167 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,810Procedures (number) 28 Depth of credit information index (0-6) 6Time (days) 338 Public registry coverage (% of adults) 31.2 Enforcing contracts (rank) 45Cost (% of income per capita) 183.3 Private bureau coverage (% of adults) 100.0 Procedures (number) 36Time (days) 590Employing workers (rank) 130 Protecting investors (rank) 104 Cost (% of claim) 16.5Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 2 Closing a business (rank) 83Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 6 Time (years) 2.8Rigidity of employment index (0-100) 35 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 12Firing cost (weeks of salary) 95 Recovery rate (cents on the dollar) 29.8Paying taxes (rank) 134Payments (number per year) 9Time (hours per year) 453Total tax rate (% of profit) 108.1(c) The International Bank for Reconstruction and Development / The World Bank

88 Doing Business 2009ARMENIA Eastern Europe & Central Asia GNI per capita (US$) 2,640Ease of doing business (rank) 44 Lower middle income Population (m) 3.0Starting a business (rank) 66 Registering property (rank) 5 Trading across borders (rank) 143Procedures (number) 9 Procedures (number) 3 Documents to export (number) 7Time (days) 18 Time (days) 4 Time to export (days) 30Cost (% of income per capita) 3.6 Cost (% of property value) 0.3 Cost to export (US$ per container) 1,746Minimum capital (% of income per capita) 2.3 Documents to import (number) 9Getting credit (rank) 28 Time to import (days) 24Dealing with construction permits (rank) 42 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,981Procedures (number) 19 Depth of credit information index (0-6) 5Time (days) 116 Public registry coverage (% of adults) 2.6 Enforcing contracts (rank) 61Cost (% of income per capita) 28.0 Private bureau coverage (% of adults) 24.4 Procedures (number) 49Time (days) 285Employing workers (rank) 54 Protecting investors (rank) 88 Cost (% of claim) 19.0Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 2 Closing a business (rank) 47Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 8 Time (years) 1.9Rigidity of employment index (0-100) 31 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 4Firing cost (weeks of salary) 13 Recovery rate (cents on the dollar) 41.8Paying taxes (rank) 150Payments (number per year) 50Time (hours per year) 958Total tax rate (% of profit) 36.6AUSTRALIA OECD: High Income GNI per capita (US$) 35,960Ease of doing business (rank) 9 High income Population (m) 21.0Starting a business (rank) 3 Registering property (rank) 33 Trading across borders (rank) 45Procedures (number) 2 Procedures (number) 5 Documents to export (number) 6Time (days) 2 Time (days) 5 Time to export (days) 9Cost (% of income per capita) 0.8 Cost (% of property value) 4.9 Cost to export (US$ per container) 1,200Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 5 Time to import (days) 12Dealing with construction permits (rank) 57 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,239Procedures (number) 16 Depth of credit information index (0-6) 5Time (days) 221 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 20Cost (% of income per capita) 13.2 Private bureau coverage (% of adults) 100.0 Procedures (number) 28Time (days) 395Employing workers (rank) 8 Protecting investors (rank) 53 Cost (% of claim) 20.7Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 2 Closing a business (rank) 14Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 7 Time (years) 1.0Rigidity of employment index (0-100) 3 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 8Firing cost (weeks of salary) 4 Recovery rate (cents on the dollar) 78.8Paying taxes (rank) 48Payments (number per year) 12Time (hours per year) 107Total tax rate (% of profit) 50.3AUSTRIA OECD: High Income GNI per capita (US$) 42,700Ease of doing business (rank) 27 High income Population (m) 8.3Starting a business (rank) 104 Registering property (rank) 36 Trading across borders (rank) 19Procedures (number) 8 Procedures (number) 3 Documents to export (number) 4Time (days) 28 Time (days) 32 Time to export (days) 7Cost (% of income per capita) 5.1 Cost (% of property value) 4.5 Cost to export (US$ per container) 1,125Minimum capital (% of income per capita) 52.8 Documents to import (number) 5Getting credit (rank) 12 Time to import (days) 8Dealing with construction permits (rank) 46 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,125Procedures (number) 13 Depth of credit information index (0-6) 6Time (days) 194 Public registry coverage (% of adults) 1.3 Enforcing contracts (rank) 13Cost (% of income per capita) 70.4 Private bureau coverage (% of adults) 40.9 Procedures (number) 25Time (days) 397Employing workers (rank) 50 Protecting investors (rank) 126 Cost (% of claim) 18.0Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 5 Closing a business (rank) 20Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 4 Time (years) 1.1Rigidity of employment index (0-100) 33 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 18Firing cost (weeks of salary) 2 Recovery rate (cents on the dollar) 71.5Paying taxes (rank) 93Payments (number per year) 22Time (hours per year) 170Total tax rate (% of profit) 54.5(c) The International Bank for Reconstruction and Development / The World Bank

country tables 89AZERBAIJAN Eastern Europe & Central Asia GNI per capita (US$) 2,550Ease of doing business (rank) 33 Lower middle income Population (m) 8.6Starting a business (rank) 13 Registering property (rank) 9 Trading across borders (rank) 174Procedures (number) 6 Procedures (number) 4 Documents to export (number) 9Time (days) 16 Time (days) 11 Time to export (days) 48Cost (% of income per capita) 3.2 Cost (% of property value) 0.3 Cost to export (US$ per container) 3,075Minimum capital (% of income per capita) 0.0 Documents to import (number) 14Getting credit (rank) 12 Time to import (days) 56Dealing with construction permits (rank) 155 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 3,420Procedures (number) 31 Depth of credit information index (0-6) 5Time (days) 207 Public registry coverage (% of adults) 3.1 Enforcing contracts (rank) 26Cost (% of income per capita) 522.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 237Employing workers (rank) 15 Protecting investors (rank) 18 Cost (% of claim) 18.5Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 5 Closing a business (rank) 81Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 8 Time (years) 2.7Rigidity of employment index (0-100) 3 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 8Firing cost (weeks of salary) 22 Recovery rate (cents on the dollar) 30.1Paying taxes (rank) 102Payments (number per year) 23Time (hours per year) 376Total tax rate (% of profit) 41.1BAHAMAS, THE Latin America & Caribbean GNI per capita (US$) 19,781Ease of doing business (rank) 55 High income Population (m) 0.3Starting a business (rank) 45 Registering property (rank) 143 Trading across borders (rank) 51Procedures (number) 7 Procedures (number) 7 Documents to export (number) 6Time (days) 31 Time (days) 48 Time to export (days) 16Cost (% of income per capita) 9.8 Cost (% of property value) 12.5 Cost to export (US$ per container) 930Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 68 Time to import (days) 13Dealing with construction permits (rank) 92 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,380Procedures (number) 18 Depth of credit information index (0-6) 0Time (days) 197 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 120Cost (% of income per capita) 241.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 49Time (days) 427Employing workers (rank) 44 Protecting investors (rank) 104 Cost (% of claim) 28.9Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 5 Closing a business (rank) 29Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 7 Time (years) 5.0Rigidity of employment index (0-100) 17 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 4Firing cost (weeks of salary) 26 Recovery rate (cents on the dollar) 54.7Paying taxes (rank) 39Payments (number per year) 17Time (hours per year) 58Total tax rate (% of profit) 47.0BAHRAIN Middle East & North Africa GNI per capita (US$) 25,731Ease of doing business (rank) 18 High income Population (m) 0.8Starting a business (rank) 49 Registering property (rank) 18 Trading across borders (rank) 21Procedures (number) 7 Procedures (number) 2 Documents to export (number) 5Time (days) 9 Time (days) 31 Time to export (days) 14Cost (% of income per capita) 0.6 Cost (% of property value) 0.9 Cost to export (US$ per container) 805Minimum capital (% of income per capita) 210.1 Documents to import (number) 6Getting credit (rank) 84 Time to import (days) 15Dealing with construction permits (rank) 14 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 845Procedures (number) 13 Depth of credit information index (0-6) 4Time (days) 56 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 113Cost (% of income per capita) 57.2 Private bureau coverage (% of adults) 35.8 Procedures (number) 48Time (days) 635Employing workers (rank) 26 Protecting investors (rank) 53 Cost (% of claim) 14.7Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 4 Closing a business (rank) 25Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 5 Time (years) 2.5Rigidity of employment index (0-100) 23 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 10Firing cost (weeks of salary) 4 Recovery rate (cents on the dollar) 63.2Paying taxes (rank) 15Payments (number per year) 25Time (hours per year) 36Total tax rate (% of profit) 15.0(c) The International Bank for Reconstruction and Development / The World Bank

90 Doing Business 2009BANGLADESH South Asia GNI per capita (US$) 470Ease of doing business (rank) 110 Low income Population (m) 158.6Starting a business (rank) 90 Registering property (rank) 175 Trading across borders (rank) 105Procedures (number) 7 Procedures (number) 8 Documents to export (number) 6Time (days) 73 Time (days) 245 Time to export (days) 28Cost (% of income per capita) 25.7 Cost (% of property value) 10.4 Cost to export (US$ per container) 970Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 59 Time to import (days) 32Dealing with construction permits (rank) 114 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,375Procedures (number) 14 Depth of credit information index (0-6) 2Time (days) 231 Public registry coverage (% of adults) 0.9 Enforcing contracts (rank) 178Cost (% of income per capita) 739.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 41Time (days) 1,442Employing workers (rank) 132 Protecting investors (rank) 18 Cost (% of claim) 63.3Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 7 Closing a business (rank) 106Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 7 Time (years) 4.0Rigidity of employment index (0-100) 35 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 8Firing cost (weeks of salary) 104 Recovery rate (cents on the dollar) 23.2Paying taxes (rank) 90Payments (number per year) 21Time (hours per year) 302Total tax rate (% of profit) 39.5BELARUS Eastern Europe & Central Asia GNI per capita (US$) 4,220Ease of doing business (rank) 85 Upper middle income Population (m) 9.7Starting a business (rank) 97 Registering property (rank) 14 Trading across borders (rank) 134Procedures (number) 8 Procedures (number) 4 Documents to export (number) 8Time (days) 31 Time (days) 21 Time to export (days) 20Cost (% of income per capita) 7.8 Cost (% of property value) 0.0 Cost to export (US$ per container) 1,772Minimum capital (% of income per capita) 12.4 Documents to import (number) 8Getting credit (rank) 109 Time to import (days) 26Dealing with construction permits (rank) 65 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 1,720Procedures (number) 17 Depth of credit information index (0-6) 5Time (days) 210 Public registry coverage (% of adults) 2.4 Enforcing contracts (rank) 14Cost (% of income per capita) 39.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 28Time (days) 225Employing workers (rank) 49 Protecting investors (rank) 104 Cost (% of claim) 23.4Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 1 Closing a business (rank) 71Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 8 Time (years) 5.8Rigidity of employment index (0-100) 27 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 22Firing cost (weeks of salary) 22 Recovery rate (cents on the dollar) 33.4Paying taxes (rank) 181Payments (number per year) 112Time (hours per year) 1,188Total tax rate (% of profit) 117.5BELGIUM OECD: High Income GNI per capita (US$) 40,710Ease of doing business (rank) 19 High income Population (m) 10.6Starting a business (rank) 20 Registering property (rank) 168 Trading across borders (rank) 43Procedures (number) 3 Procedures (number) 7 Documents to export (number) 4Time (days) 4 Time (days) 132 Time to export (days) 8Cost (% of income per capita) 5.2 Cost (% of property value) 12.7 Cost to export (US$ per container) 1,619Minimum capital (% of income per capita) 19.9 Documents to import (number) 5Getting credit (rank) 43 Time to import (days) 9Dealing with construction permits (rank) 44 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,600Procedures (number) 14 Depth of credit information index (0-6) 4Time (days) 169 Public registry coverage (% of adults) 57.7 Enforcing contracts (rank) 22Cost (% of income per capita) 65.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 25Time (days) 505Employing workers (rank) 37 Protecting investors (rank) 15 Cost (% of claim) 16.6Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 6 Closing a business (rank) 8Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 7 Time (years) 0.9Rigidity of employment index (0-100) 20 Strength of investor protection index (0-10) 7.0 Cost (% of estate) 4Firing cost (weeks of salary) 16 Recovery rate (cents on the dollar) 86.3Paying taxes (rank) 64Payments (number per year) 11Time (hours per year) 156Total tax rate (% of profit) 58.1(c) The International Bank for Reconstruction and Development / The World Bank

country tables 91BELIZE Latin America & Caribbean GNI per capita (US$) 3,800Ease of doing business (rank) 78 Upper middle income Population (m) 0.3Starting a business (rank) 139 Registering property (rank) 121 Trading across borders (rank) 114Procedures (number) 9 Procedures (number) 8 Documents to export (number) 7Time (days) 44 Time (days) 60 Time to export (days) 21Cost (% of income per capita) 51.1 Cost (% of property value) 4.7 Cost to export (US$ per container) 1,810Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 84 Time to import (days) 21Dealing with construction permits (rank) 2 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 2,145Procedures (number) 11 Depth of credit information index (0-6) 0Time (days) 66 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 168Cost (% of income per capita) 17.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 51Time (days) 892Employing workers (rank) 25 Protecting investors (rank) 113 Cost (% of claim) 27.5Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 4 Closing a business (rank) 24Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 6 Time (years) 1.0Rigidity of employment index (0-100) 14 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 23Firing cost (weeks of salary) 24 Recovery rate (cents on the dollar) 63.4Paying taxes (rank) 53Payments (number per year) 40Time (hours per year) 147Total tax rate (% of profit) 28.2BENIN Sub-Saharan Africa GNI per capita (US$) 570Ease of doing business (rank) 169 Low income Population (m) 9.0Starting a business (rank) 149 Registering property (rank) 119 Trading across borders (rank) 129Procedures (number) 7 Procedures (number) 4 Documents to export (number) 7Time (days) 31 Time (days) 120 Time to export (days) 32Cost (% of income per capita) 196.0 Cost (% of property value) 11.9 Cost to export (US$ per container) 1,237Minimum capital (% of income per capita) 347.0 Documents to import (number) 7Getting credit (rank) 145 Time to import (days) 40Dealing with construction permits (rank) 130 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,393Procedures (number) 15 Depth of credit information index (0-6) 1Time (days) 410 Public registry coverage (% of adults) 10.5 Enforcing contracts (rank) 175Cost (% of income per capita) 303.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 42Time (days) 825Employing workers (rank) 116 Protecting investors (rank) 150 Cost (% of claim) 64.7Difficulty of hiring index (0-100) 39 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 1 Closing a business (rank) 130Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 3 Time (years) 4.0Rigidity of employment index (0-100) 40 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 22Firing cost (weeks of salary) 36 Recovery rate (cents on the dollar) 16.7Paying taxes (rank) 165Payments (number per year) 55Time (hours per year) 270Total tax rate (% of profit) 73.2BHUTAN South Asia GNI per capita (US$) 1,770Ease of doing business (rank) 124 Lower middle income Population (m) 0.7Starting a business (rank) 63 Registering property (rank) 38 Trading across borders (rank) 151Procedures (number) 8 Procedures (number) 5 Documents to export (number) 8Time (days) 46 Time (days) 64 Time to export (days) 38Cost (% of income per capita) 8.5 Cost (% of property value) 0.0 Cost to export (US$ per container) 1,210Minimum capital (% of income per capita) 0.0 Documents to import (number) 11Getting credit (rank) 172 Time to import (days) 38Dealing with construction permits (rank) 116 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 2,140Procedures (number) 25 Depth of credit information index (0-6) 0Time (days) 183 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 37Cost (% of income per capita) 158.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 47Time (days) 225Employing workers (rank) 13 Protecting investors (rank) 126 Cost (% of claim) 0.1Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 3 Closing a business (rank) 181Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 4 Time (years) No practiceRigidity of employment index (0-100) 7 Strength of investor protection index (0-10) 4.0 Cost (% of estate) No practiceFiring cost (weeks of salary) 10 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 82Payments (number per year) 19Time (hours per year) 274Total tax rate (% of profit) 39.8(c) The International Bank for Reconstruction and Development / The World Bank

92 Doing Business 2009BOLIVIA Latin America & Caribbean GNI per capita (US$) 1,260Ease of doing business (rank) 150 Lower middle income Population (m) 9.5Starting a business (rank) 165 Registering property (rank) 129 Trading across borders (rank) 117Procedures (number) 15 Procedures (number) 7 Documents to export (number) 8Time (days) 50 Time (days) 92 Time to export (days) 19Cost (% of income per capita) 112.4 Cost (% of property value) 4.9 Cost to export (US$ per container) 1,425Minimum capital (% of income per capita) 2.8 Documents to import (number) 7Getting credit (rank) 109 Time to import (days) 23Dealing with construction permits (rank) 98 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 1,747Procedures (number) 17 Depth of credit information index (0-6) 6Time (days) 249 Public registry coverage (% of adults) 11.9 Enforcing contracts (rank) 133Cost (% of income per capita) 121.6 Private bureau coverage (% of adults) 29.7 Procedures (number) 40Time (days) 591Employing workers (rank) 180 Protecting investors (rank) 126 Cost (% of claim) 33.2Difficulty of hiring index (0-100) 78 Extent of disclosure index (0-10) 1Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 5 Closing a business (rank) 59Difficulty of firing index (0-100) 100 Ease of shareholder suits index (0-10) 6 Time (years) 1.8Rigidity of employment index (0-100) 79 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 15Firing cost (weeks of salary) not possible Recovery rate (cents on the dollar) 37.3Paying taxes (rank) 176Payments (number per year) 41Time (hours per year) 1,080Total tax rate (% of profit) 78.1BOSNIA AND HERZEGOVINA Eastern Europe & Central Asia GNI per capita (US$) 3,580Ease of doing business (rank) 119 Lower middle income Population (m) 3.9Starting a business (rank) 161 Registering property (rank) 144 Trading across borders (rank) 55Procedures (number) 12 Procedures (number) 7 Documents to export (number) 6Time (days) 60 Time (days) 128 Time to export (days) 16Cost (% of income per capita) 30.8 Cost (% of property value) 5.2 Cost to export (US$ per container) 1,070Minimum capital (% of income per capita) 36.3 Documents to import (number) 7Getting credit (rank) 59 Time to import (days) 16Dealing with construction permits (rank) 137 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,035Procedures (number) 16 Depth of credit information index (0-6) 5Time (days) 296 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 123Cost (% of income per capita) 666.9 Private bureau coverage (% of adults) 69.2 Procedures (number) 38Time (days) 595Employing workers (rank) 117 Protecting investors (rank) 88 Cost (% of claim) 38.4Difficulty of hiring index (0-100) 67 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 6 Closing a business (rank) 60Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 6 Time (years) 3.3Rigidity of employment index (0-100) 46 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 9Firing cost (weeks of salary) 31 Recovery rate (cents on the dollar) 35.9Paying taxes (rank) 154Payments (number per year) 51Time (hours per year) 428Total tax rate (% of profit) 44.1BOTSWANA Sub-Saharan Africa GNI per capita (US$) 5,840Ease of doing business (rank) 38 Upper middle income Population (m) 1.9Starting a business (rank) 80 Registering property (rank) 29 Trading across borders (rank) 149Procedures (number) 10 Procedures (number) 4 Documents to export (number) 6Time (days) 78 Time (days) 11 Time to export (days) 31Cost (% of income per capita) 2.3 Cost (% of property value) 5.0 Cost to export (US$ per container) 2,508Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 43 Time to import (days) 42Dealing with construction permits (rank) 119 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 3,064Procedures (number) 24 Depth of credit information index (0-6) 4Time (days) 167 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 92Cost (% of income per capita) 311.9 Private bureau coverage (% of adults) 52.9 Procedures (number) 29Time (days) 987Employing workers (rank) 73 Protecting investors (rank) 38 Cost (% of claim) 28.1Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 8 Closing a business (rank) 26Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 3 Time (years) 1.7Rigidity of employment index (0-100) 20 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 15Firing cost (weeks of salary) 90 Recovery rate (cents on the dollar) 60.3Paying taxes (rank) 17Payments (number per year) 19Time (hours per year) 140Total tax rate (% of profit) 17.1(c) The International Bank for Reconstruction and Development / The World Bank

country tables 93BRAZIL Latin America & Caribbean GNI per capita (US$) 5,910Ease of doing business (rank) 125 Upper middle income Population (m) 191.6Starting a business (rank) 127 Registering property (rank) 111 Trading across borders (rank) 92Procedures (number) 18 Procedures (number) 14 Documents to export (number) 8Time (days) 152 Time (days) 42 Time to export (days) 14Cost (% of income per capita) 8.2 Cost (% of property value) 2.7 Cost to export (US$ per container) 1,240Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 84 Time to import (days) 19Dealing with construction permits (rank) 108 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,275Procedures (number) 18 Depth of credit information index (0-6) 5Time (days) 411 Public registry coverage (% of adults) 20.2 Enforcing contracts (rank) 100Cost (% of income per capita) 46.7 Private bureau coverage (% of adults) 62.2 Procedures (number) 45Time (days) 616Employing workers (rank) 121 Protecting investors (rank) 70 Cost (% of claim) 16.5Difficulty of hiring index (0-100) 78 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 7 Closing a business (rank) 127Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 3 Time (years) 4.0Rigidity of employment index (0-100) 46 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 12Firing cost (weeks of salary) 37 Recovery rate (cents on the dollar) 17.1Paying taxes (rank) 145Payments (number per year) 11Time (hours per year) 2,600Total tax rate (% of profit) 69.4BRUNEI East Asia & Pacific GNI per capita (US$) 36,216Ease of doing business (rank) 88 High income Population (m) 0.4Starting a business (rank) 130 Registering property (rank) 177 Trading across borders (rank) 42Procedures (number) 18 Procedures (number) No practice Documents to export (number) 6Time (days) 116 Time (days) No practice Time to export (days) 28Cost (% of income per capita) 9.2 Cost (% of property value) No practice Cost to export (US$ per container) 630Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 109 Time to import (days) 19Dealing with construction permits (rank) 72 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 708Procedures (number) 32 Depth of credit information index (0-6) 0Time (days) 167 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 157Cost (% of income per capita) 5.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 58Time (days) 540Employing workers (rank) 5 Protecting investors (rank) 113 Cost (% of claim) 36.6Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 2 Closing a business (rank) 35Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 2.5Rigidity of employment index (0-100) 7 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 4Firing cost (weeks of salary) 4 Recovery rate (cents on the dollar) 47.2Paying taxes (rank) 35Payments (number per year) 15Time (hours per year) 144Total tax rate (% of profit) 37.4BULGARIA Eastern Europe & Central Asia GNI per capita (US$) 4,590Ease of doing business (rank) 45 Upper middle income Population (m) 7.6Starting a business (rank) 81 Registering property (rank) 59 Trading across borders (rank) 102Procedures (number) 4 Procedures (number) 8 Documents to export (number) 5Time (days) 49 Time (days) 19 Time to export (days) 23Cost (% of income per capita) 2.0 Cost (% of property value) 2.3 Cost to export (US$ per container) 1,626Minimum capital (% of income per capita) 47.8 Documents to import (number) 7Getting credit (rank) 5 Time to import (days) 21Dealing with construction permits (rank) 117 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,776Procedures (number) 24 Depth of credit information index (0-6) 6Time (days) 139 Public registry coverage (% of adults) 30.7 Enforcing contracts (rank) 86Cost (% of income per capita) 493.6 Private bureau coverage (% of adults) 5.0 Procedures (number) 39Time (days) 564Employing workers (rank) 60 Protecting investors (rank) 38 Cost (% of claim) 23.8Difficulty of hiring index (0-100) 17 Extent of disclosure index (0-10) 10Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 75Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 7 Time (years) 3.3Rigidity of employment index (0-100) 29 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 9Firing cost (weeks of salary) 9 Recovery rate (cents on the dollar) 32.1Paying taxes (rank) 94Payments (number per year) 17Time (hours per year) 616Total tax rate (% of profit) 34.9(c) The International Bank for Reconstruction and Development / The World Bank

94 Doing Business 2009BURKINA FASO Sub-Saharan Africa GNI per capita (US$) 430Ease of doing business (rank) 148 Low income Population (m) 14.8Starting a business (rank) 113 Registering property (rank) 148 Trading across borders (rank) 173Procedures (number) 5 Procedures (number) 6 Documents to export (number) 11Time (days) 16 Time (days) 136 Time to export (days) 45Cost (% of income per capita) 62.3 Cost (% of property value) 10.2 Cost to export (US$ per container) 2,132Minimum capital (% of income per capita) 458.8 Documents to import (number) 11Getting credit (rank) 145 Time to import (days) 54Dealing with construction permits (rank) 106 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 3,630Procedures (number) 15 Depth of credit information index (0-6) 1Time (days) 214 Public registry coverage (% of adults) 1.9 Enforcing contracts (rank) 110Cost (% of income per capita) 577.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 37Time (days) 446Employing workers (rank) 57 Protecting investors (rank) 142 Cost (% of claim) 107.4Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 1 Closing a business (rank) 110Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 4 Time (years) 4.0Rigidity of employment index (0-100) 21 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 9Firing cost (weeks of salary) 34 Recovery rate (cents on the dollar) 21.7Paying taxes (rank) 132Payments (number per year) 45Time (hours per year) 270Total tax rate (% of profit) 44.6BURUNDI Sub-Saharan Africa GNI per capita (US$) 110Ease of doing business (rank) 177 Low income Population (m) 8.5Starting a business (rank) 138 Registering property (rank) 125 Trading across borders (rank) 170Procedures (number) 11 Procedures (number) 5 Documents to export (number) 9Time (days) 43 Time (days) 94 Time to export (days) 47Cost (% of income per capita) 215.0 Cost (% of property value) 10.7 Cost to export (US$ per container) 2,147Minimum capital (% of income per capita) 0.0 Documents to import (number) 10Getting credit (rank) 163 Time to import (days) 71Dealing with construction permits (rank) 173 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 3,705Procedures (number) 20 Depth of credit information index (0-6) 1Time (days) 384 Public registry coverage (% of adults) 0.3 Enforcing contracts (rank) 170Cost (% of income per capita) 8,515.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 44Time (days) 832Employing workers (rank) 70 Protecting investors (rank) 150 Cost (% of claim) 38.6Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 181Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 5 Time (years) No practiceRigidity of employment index (0-100) 30 Strength of investor protection index (0-10) 3.3 Cost (% of estate) No practiceFiring cost (weeks of salary) 26 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 114Payments (number per year) 32Time (hours per year) 140Total tax rate (% of profit) 278.7CAMBODIA East Asia & Pacific GNI per capita (US$) 540Ease of doing business (rank) 135 Low income Population (m) 14.4Starting a business (rank) 169 Registering property (rank) 108 Trading across borders (rank) 122Procedures (number) 9 Procedures (number) 7 Documents to export (number) 11Time (days) 85 Time (days) 56 Time to export (days) 22Cost (% of income per capita) 151.7 Cost (% of property value) 4.4 Cost to export (US$ per container) 732Minimum capital (% of income per capita) 43.9 Documents to import (number) 11Getting credit (rank) 68 Time to import (days) 30Dealing with construction permits (rank) 147 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 872Procedures (number) 23 Depth of credit information index (0-6) 0Time (days) 709 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 136Cost (% of income per capita) 64.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 44Time (days) 401Employing workers (rank) 134 Protecting investors (rank) 70 Cost (% of claim) 102.7Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 9 Closing a business (rank) 181Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 2 Time (years) No practiceRigidity of employment index (0-100) 45 Strength of investor protection index (0-10) 5.3 Cost (% of estate) No practiceFiring cost (weeks of salary) 39 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 24Payments (number per year) 27Time (hours per year) 137Total tax rate (% of profit) 22.6(c) The International Bank for Reconstruction and Development / The World Bank

country tables 95CAMEROON Sub-Saharan Africa GNI per capita (US$) 1,050Ease of doing business (rank) 164 Lower middle income Population (m) 18.5Starting a business (rank) 171 Registering property (rank) 138 Trading across borders (rank) 137Procedures (number) 13 Procedures (number) 5 Documents to export (number) 9Time (days) 37 Time (days) 93 Time to export (days) 27Cost (% of income per capita) 137.1 Cost (% of property value) 17.8 Cost to export (US$ per container) 995Minimum capital (% of income per capita) 188.0 Documents to import (number) 8Getting credit (rank) 131 Time to import (days) 33Dealing with construction permits (rank) 154 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,672Procedures (number) 15 Depth of credit information index (0-6) 2Time (days) 426 Public registry coverage (% of adults) 4.9 Enforcing contracts (rank) 172Cost (% of income per capita) 1,277.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 43Time (days) 800Employing workers (rank) 124 Protecting investors (rank) 113 Cost (% of claim) 46.6Difficulty of hiring index (0-100) 28 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 1 Closing a business (rank) 95Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 6 Time (years) 3.2Rigidity of employment index (0-100) 46 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 15Firing cost (weeks of salary) 33 Recovery rate (cents on the dollar) 25.5Paying taxes (rank) 171Payments (number per year) 41Time (hours per year) 1,400Total tax rate (% of profit) 51.4CANADA OECD: High Income GNI per capita (US$) 39,420Ease of doing business (rank) 8 High income Population (m) 33.0Starting a business (rank) 2 Registering property (rank) 32 Trading across borders (rank) 44Procedures (number) 1 Procedures (number) 6 Documents to export (number) 3Time (days) 5 Time (days) 17 Time to export (days) 7Cost (% of income per capita) 0.5 Cost (% of property value) 1.8 Cost to export (US$ per container) 1,660Minimum capital (% of income per capita) 0.0 Documents to import (number) 4Getting credit (rank) 28 Time to import (days) 11Dealing with construction permits (rank) 29 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,785Procedures (number) 14 Depth of credit information index (0-6) 6Time (days) 75 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 58Cost (% of income per capita) 103.7 Private bureau coverage (% of adults) 100.0 Procedures (number) 36Time (days) 570Employing workers (rank) 18 Protecting investors (rank) 5 Cost (% of claim) 22.3Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 9 Closing a business (rank) 4Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 0.8Rigidity of employment index (0-100) 4 Strength of investor protection index (0-10) 8.3 Cost (% of estate) 4Firing cost (weeks of salary) 28 Recovery rate (cents on the dollar) 88.7Paying taxes (rank) 28Payments (number per year) 9Time (hours per year) 119Total tax rate (% of profit) 45.4CAPE VERDE Sub-Saharan Africa GNI per capita (US$) 2,430Ease of doing business (rank) 143 Lower middle income Population (m) 0.5Starting a business (rank) 163 Registering property (rank) 124 Trading across borders (rank) 56Procedures (number) 12 Procedures (number) 6 Documents to export (number) 5Time (days) 52 Time (days) 73 Time to export (days) 19Cost (% of income per capita) 35.7 Cost (% of property value) 7.7 Cost to export (US$ per container) 1,325Minimum capital (% of income per capita) 47.5 Documents to import (number) 5Getting credit (rank) 123 Time to import (days) 18Dealing with construction permits (rank) 79 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,129Procedures (number) 18 Depth of credit information index (0-6) 3Time (days) 120 Public registry coverage (% of adults) 21.8 Enforcing contracts (rank) 40Cost (% of income per capita) 639.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 37Time (days) 425Employing workers (rank) 169 Protecting investors (rank) 126 Cost (% of claim) 21.8Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 1Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 5 Closing a business (rank) 181Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 6 Time (years) No practiceRigidity of employment index (0-100) 54 Strength of investor protection index (0-10) 4.0 Cost (% of estate) No practiceFiring cost (weeks of salary) 93 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 115Payments (number per year) 57Time (hours per year) 100Total tax rate (% of profit) 54.0(c) The International Bank for Reconstruction and Development / The World Bank

96 Doing Business 2009CENTRAL AFRICAN REPUBLIC Sub-Saharan Africa GNI per capita (US$) 380Ease of doing business (rank) 180 Low income Population (m) 4.3Starting a business (rank) 152 Registering property (rank) 133 Trading across borders (rank) 175Procedures (number) 10 Procedures (number) 5 Documents to export (number) 8Time (days) 14 Time (days) 75 Time to export (days) 57Cost (% of income per capita) 232.3 Cost (% of property value) 18.6 Cost to export (US$ per container) 5,121Minimum capital (% of income per capita) 513.9 Documents to import (number) 18Getting credit (rank) 131 Time to import (days) 66Dealing with construction permits (rank) 138 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 5,074Procedures (number) 21 Depth of credit information index (0-6) 2Time (days) 239 Public registry coverage (% of adults) 1.2 Enforcing contracts (rank) 169Cost (% of income per capita) 278.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 43Time (days) 660Employing workers (rank) 151 Protecting investors (rank) 126 Cost (% of claim) 82.0Difficulty of hiring index (0-100) 72 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 181Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 5 Time (years) 4.8Rigidity of employment index (0-100) 61 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 76Firing cost (weeks of salary) 22 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 178Payments (number per year) 54Time (hours per year) 504Total tax rate (% of profit) 203.8CHAD Sub-Saharan Africa GNI per capita (US$) 540Ease of doing business (rank) 175 Low income Population (m) 10.8Starting a business (rank) 180 Registering property (rank) 132 Trading across borders (rank) 159Procedures (number) 19 Procedures (number) 6 Documents to export (number) 6Time (days) 75 Time (days) 44 Time to export (days) 78Cost (% of income per capita) 175.0 Cost (% of property value) 22.7 Cost to export (US$ per container) 5,367Minimum capital (% of income per capita) 365.1 Documents to import (number) 9Getting credit (rank) 145 Time to import (days) 102Dealing with construction permits (rank) 70 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 6,020Procedures (number) 9 Depth of credit information index (0-6) 1Time (days) 181 Public registry coverage (% of adults) 0.6 Enforcing contracts (rank) 166Cost (% of income per capita) 974.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 41Time (days) 743Employing workers (rank) 139 Protecting investors (rank) 126 Cost (% of claim) 77.4Difficulty of hiring index (0-100) 39 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 181Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 5 Time (years) No practiceRigidity of employment index (0-100) 46 Strength of investor protection index (0-10) 4.0 Cost (% of estate) No practiceFiring cost (weeks of salary) 36 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 130Payments (number per year) 54Time (hours per year) 122Total tax rate (% of profit) 60.5CHILE Latin America & Caribbean GNI per capita (US$) 8,350Ease of doing business (rank) 40 Upper middle income Population (m) 16.6Starting a business (rank) 55 Registering property (rank) 39 Trading across borders (rank) 53Procedures (number) 9 Procedures (number) 6 Documents to export (number) 6Time (days) 27 Time (days) 31 Time to export (days) 21Cost (% of income per capita) 7.5 Cost (% of property value) 1.3 Cost to export (US$ per container) 745Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 68 Time to import (days) 21Dealing with construction permits (rank) 62 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 795Procedures (number) 18 Depth of credit information index (0-6) 5Time (days) 155 Public registry coverage (% of adults) 28.1 Enforcing contracts (rank) 65Cost (% of income per capita) 101.3 Private bureau coverage (% of adults) 34.5 Procedures (number) 36Time (days) 480Employing workers (rank) 74 Protecting investors (rank) 38 Cost (% of claim) 28.6Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 6 Closing a business (rank) 112Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 5 Time (years) 4.5Rigidity of employment index (0-100) 24 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 15Firing cost (weeks of salary) 52 Recovery rate (cents on the dollar) 21.3Paying taxes (rank) 41Payments (number per year) 10Time (hours per year) 316Total tax rate (% of profit) 25.9(c) The International Bank for Reconstruction and Development / The World Bank

country tables 97CHINA East Asia & Pacific GNI per capita (US$) 2,360Ease of doing business (rank) 83 Lower middle income Population (m) 1,320.0Starting a business (rank) 151 Registering property (rank) 30 Trading across borders (rank) 48Procedures (number) 14 Procedures (number) 4 Documents to export (number) 7Time (days) 40 Time (days) 29 Time to export (days) 21Cost (% of income per capita) 8.4 Cost (% of property value) 3.2 Cost to export (US$ per container) 460Minimum capital (% of income per capita) 158.1 Documents to import (number) 6Getting credit (rank) 59 Time to import (days) 24Dealing with construction permits (rank) 176 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 545Procedures (number) 37 Depth of credit information index (0-6) 4Time (days) 336 Public registry coverage (% of adults) 58.8 Enforcing contracts (rank) 18Cost (% of income per capita) 698.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 34Time (days) 406Employing workers (rank) 111 Protecting investors (rank) 88 Cost (% of claim) 11.1Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 10Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 1 Closing a business (rank) 62Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 4 Time (years) 1.7Rigidity of employment index (0-100) 27 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 22Firing cost (weeks of salary) 91 Recovery rate (cents on the dollar) 35.3Paying taxes (rank) 132Payments (number per year) 9Time (hours per year) 504Total tax rate (% of profit) 79.9COLOMBIA Latin America & Caribbean GNI per capita (US$) 3,250Ease of doing business (rank) 53 Lower middle income Population (m) 46.1Starting a business (rank) 79 Registering property (rank) 78 Trading across borders (rank) 96Procedures (number) 9 Procedures (number) 9 Documents to export (number) 6Time (days) 36 Time (days) 23 Time to export (days) 14Cost (% of income per capita) 14.1 Cost (% of property value) 2.4 Cost to export (US$ per container) 1,690Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 59 Time to import (days) 15Dealing with construction permits (rank) 54 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,640Procedures (number) 13 Depth of credit information index (0-6) 5Time (days) 114 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 149Cost (% of income per capita) 661.6 Private bureau coverage (% of adults) 42.5 Procedures (number) 34Time (days) 1,346Employing workers (rank) 80 Protecting investors (rank) 24 Cost (% of claim) 52.6Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 2 Closing a business (rank) 30Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 9 Time (years) 3.0Rigidity of employment index (0-100) 24 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 1Firing cost (weeks of salary) 59 Recovery rate (cents on the dollar) 52.8Paying taxes (rank) 141Payments (number per year) 31Time (hours per year) 256Total tax rate (% of profit) 78.4COMOROS Sub-Saharan Africa GNI per capita (US$) 680Ease of doing business (rank) 155 Low income Population (m) 0.6Starting a business (rank) 160 Registering property (rank) 93 Trading across borders (rank) 129Procedures (number) 11 Procedures (number) 5 Documents to export (number) 10Time (days) 23 Time (days) 24 Time to export (days) 30Cost (% of income per capita) 188.6 Cost (% of property value) 20.8 Cost to export (US$ per container) 1,073Minimum capital (% of income per capita) 280.8 Documents to import (number) 10Getting credit (rank) 163 Time to import (days) 21Dealing with construction permits (rank) 64 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,057Procedures (number) 18 Depth of credit information index (0-6) 0Time (days) 164 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 150Cost (% of income per capita) 77.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 43Time (days) 506Employing workers (rank) 162 Protecting investors (rank) 126 Cost (% of claim) 89.4Difficulty of hiring index (0-100) 39 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 181Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 5 Time (years) No practiceRigidity of employment index (0-100) 46 Strength of investor protection index (0-10) 4.0 Cost (% of estate) No practiceFiring cost (weeks of salary) 100 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 55Payments (number per year) 20Time (hours per year) 100Total tax rate (% of profit) 48.8(c) The International Bank for Reconstruction and Development / The World Bank

98 Doing Business 2009CONGO, DEM. REP. Sub-Saharan Africa GNI per capita (US$) 140Ease of doing business (rank) 181 Low income Population (m) 62.4Starting a business (rank) 154 Registering property (rank) 152 Trading across borders (rank) 160Procedures (number) 13 Procedures (number) 8 Documents to export (number) 8Time (days) 155 Time (days) 57 Time to export (days) 46Cost (% of income per capita) 435.4 Cost (% of property value) 9.2 Cost to export (US$ per container) 2,607Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 163 Time to import (days) 66Dealing with construction permits (rank) 141 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,483Procedures (number) 14 Depth of credit information index (0-6) 0Time (days) 322 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 173Cost (% of income per capita) 1,725.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 43Time (days) 645Employing workers (rank) 175 Protecting investors (rank) 150 Cost (% of claim) 151.8Difficulty of hiring index (0-100) 72 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 80 Extent of director liability index (0-10) 3 Closing a business (rank) 150Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 4 Time (years) 5.2Rigidity of employment index (0-100) 74 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 29Firing cost (weeks of salary) 31 Recovery rate (cents on the dollar) 5.4Paying taxes (rank) 153Payments (number per year) 32Time (hours per year) 308Total tax rate (% of profit) 229.8CONGO, REP. Sub-Saharan Africa GNI per capita (US$) 1,540Ease of doing business (rank) 178 Lower middle income Population (m) 3.8Starting a business (rank) 157 Registering property (rank) 171 Trading across borders (rank) 176Procedures (number) 10 Procedures (number) 7 Documents to export (number) 11Time (days) 37 Time (days) 116 Time to export (days) 50Cost (% of income per capita) 106.4 Cost (% of property value) 16.5 Cost to export (US$ per container) 2,490Minimum capital (% of income per capita) 131.2 Documents to import (number) 12Getting credit (rank) 131 Time to import (days) 62Dealing with construction permits (rank) 68 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,959Procedures (number) 14 Depth of credit information index (0-6) 2Time (days) 169 Public registry coverage (% of adults) 6.9 Enforcing contracts (rank) 155Cost (% of income per capita) 345.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 44Time (days) 560Employing workers (rank) 170 Protecting investors (rank) 150 Cost (% of claim) 53.2Difficulty of hiring index (0-100) 78 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 117Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 3 Time (years) 3.0Rigidity of employment index (0-100) 69 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 24Firing cost (weeks of salary) 33 Recovery rate (cents on the dollar) 20.4Paying taxes (rank) 179Payments (number per year) 61Time (hours per year) 606Total tax rate (% of profit) 65.5COSTA RICA Latin America & Caribbean GNI per capita (US$) 5,560Ease of doing business (rank) 117 Upper middle income Population (m) 4.5Starting a business (rank) 123 Registering property (rank) 45 Trading across borders (rank) 94Procedures (number) 12 Procedures (number) 6 Documents to export (number) 7Time (days) 60 Time (days) 21 Time to export (days) 18Cost (% of income per capita) 20.5 Cost (% of property value) 3.4 Cost to export (US$ per container) 1,050Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 59 Time to import (days) 25Dealing with construction permits (rank) 123 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,050Procedures (number) 23 Depth of credit information index (0-6) 5Time (days) 191 Public registry coverage (% of adults) 5.9 Enforcing contracts (rank) 132Cost (% of income per capita) 211.7 Private bureau coverage (% of adults) 51.6 Procedures (number) 40Time (days) 877Employing workers (rank) 77 Protecting investors (rank) 164 Cost (% of claim) 24.3Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 98Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 2 Time (years) 3.5Rigidity of employment index (0-100) 28 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 15Firing cost (weeks of salary) 35 Recovery rate (cents on the dollar) 25.4Paying taxes (rank) 152Payments (number per year) 43Time (hours per year) 282Total tax rate (% of profit) 55.7(c) The International Bank for Reconstruction and Development / The World Bank

country tables 99CÔTE D’IVOIRE Sub-Saharan Africa GNI per capita (US$) 910Ease of doing business (rank) 161 Low income Population (m) 19.3Starting a business (rank) 167 Registering property (rank) 139 Trading across borders (rank) 155Procedures (number) 10 Procedures (number) 6 Documents to export (number) 10Time (days) 40 Time (days) 62 Time to export (days) 23Cost (% of income per capita) 135.1 Cost (% of property value) 13.9 Cost to export (US$ per container) 1,904Minimum capital (% of income per capita) 215.9 Documents to import (number) 9Getting credit (rank) 145 Time to import (days) 43Dealing with construction permits (rank) 160 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,437Procedures (number) 21 Depth of credit information index (0-6) 1Time (days) 628 Public registry coverage (% of adults) 2.9 Enforcing contracts (rank) 124Cost (% of income per capita) 243.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 33Time (days) 770Employing workers (rank) 112 Protecting investors (rank) 150 Cost (% of claim) 41.7Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 68Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 3 Time (years) 2.2Rigidity of employment index (0-100) 38 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 18Firing cost (weeks of salary) 49 Recovery rate (cents on the dollar) 34.0Paying taxes (rank) 148Payments (number per year) 66Time (hours per year) 270Total tax rate (% of profit) 45.4CROATIA Eastern Europe & Central Asia GNI per capita (US$) 10,460Ease of doing business (rank) 106 Upper middle income Population (m) 4.4Starting a business (rank) 117 Registering property (rank) 109 Trading across borders (rank) 97Procedures (number) 8 Procedures (number) 5 Documents to export (number) 7Time (days) 40 Time (days) 174 Time to export (days) 20Cost (% of income per capita) 11.5 Cost (% of property value) 5.0 Cost to export (US$ per container) 1,281Minimum capital (% of income per capita) 16.6 Documents to import (number) 8Getting credit (rank) 68 Time to import (days) 16Dealing with construction permits (rank) 163 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,141Procedures (number) 19 Depth of credit information index (0-6) 3Time (days) 410 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 44Cost (% of income per capita) 655.2 Private bureau coverage (% of adults) 71.8 Procedures (number) 38Time (days) 561Employing workers (rank) 146 Protecting investors (rank) 126 Cost (% of claim) 13.8Difficulty of hiring index (0-100) 61 Extent of disclosure index (0-10) 1Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 79Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 6 Time (years) 3.1Rigidity of employment index (0-100) 50 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 15Firing cost (weeks of salary) 39 Recovery rate (cents on the dollar) 30.5Paying taxes (rank) 33Payments (number per year) 17Time (hours per year) 196Total tax rate (% of profit) 32.5CZECH REPUBLIC OECD: High Income GNI per capita (US$) 14,450Ease of doing business (rank) 75 High income Population (m) 10.3Starting a business (rank) 86 Registering property (rank) 65 Trading across borders (rank) 49Procedures (number) 8 Procedures (number) 4 Documents to export (number) 4Time (days) 15 Time (days) 123 Time to export (days) 17Cost (% of income per capita) 9.6 Cost (% of property value) 3.0 Cost to export (US$ per container) 985Minimum capital (% of income per capita) 31.8 Documents to import (number) 7Getting credit (rank) 43 Time to import (days) 20Dealing with construction permits (rank) 86 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,087Procedures (number) 36 Depth of credit information index (0-6) 5Time (days) 180 Public registry coverage (% of adults) 4.6 Enforcing contracts (rank) 95Cost (% of income per capita) 16.9 Private bureau coverage (% of adults) 65.2 Procedures (number) 27Time (days) 820Employing workers (rank) 59 Protecting investors (rank) 88 Cost (% of claim) 33.0Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 113Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 8 Time (years) 6.5Rigidity of employment index (0-100) 28 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 15Firing cost (weeks of salary) 22 Recovery rate (cents on the dollar) 20.9Paying taxes (rank) 118Payments (number per year) 12Time (hours per year) 930Total tax rate (% of profit) 48.6(c) The International Bank for Reconstruction and Development / The World Bank

100 Doing Business 2009DENMARK OECD: High Income GNI per capita (US$) 54,910Ease of doing business (rank) 5 High income Population (m) 5.5Starting a business (rank) 16 Registering property (rank) 43 Trading across borders (rank) 3Procedures (number) 4 Procedures (number) 6 Documents to export (number) 4Time (days) 6 Time (days) 42 Time to export (days) 5Cost (% of income per capita) 0.0 Cost (% of property value) 0.6 Cost to export (US$ per container) 681Minimum capital (% of income per capita) 40.1 Documents to import (number) 3Getting credit (rank) 12 Time to import (days) 5Dealing with construction permits (rank) 7 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 681Procedures (number) 6 Depth of credit information index (0-6) 4Time (days) 69 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 29Cost (% of income per capita) 60.9 Private bureau coverage (% of adults) 5.0 Procedures (number) 34Time (days) 380Employing workers (rank) 10 Protecting investors (rank) 24 Cost (% of claim) 23.3Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 5 Closing a business (rank) 7Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 7 Time (years) 1.1Rigidity of employment index (0-100) 10 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 4Firing cost (weeks of salary) 0 Recovery rate (cents on the dollar) 86.5Paying taxes (rank) 13Payments (number per year) 9Time (hours per year) 135Total tax rate (% of profit) 29.9DJIBOUTI Middle East & North Africa GNI per capita (US$) 1,090Ease of doing business (rank) 153 Lower middle income Population (m) 0.8Starting a business (rank) 173 Registering property (rank) 134 Trading across borders (rank) 35Procedures (number) 11 Procedures (number) 7 Documents to export (number) 5Time (days) 37 Time (days) 40 Time to export (days) 19Cost (% of income per capita) 200.2 Cost (% of property value) 13.2 Cost to export (US$ per container) 1,058Minimum capital (% of income per capita) 514.0 Documents to import (number) 5Getting credit (rank) 172 Time to import (days) 16Dealing with construction permits (rank) 99 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 978Procedures (number) 14 Depth of credit information index (0-6) 1Time (days) 195 Public registry coverage (% of adults) 0.2 Enforcing contracts (rank) 159Cost (% of income per capita) 982.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 40Time (days) 1,225Employing workers (rank) 137 Protecting investors (rank) 177 Cost (% of claim) 34.0Difficulty of hiring index (0-100) 67 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 2 Closing a business (rank) 132Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 0 Time (years) 5.0Rigidity of employment index (0-100) 46 Strength of investor protection index (0-10) 2.3 Cost (% of estate) 18Firing cost (weeks of salary) 56 Recovery rate (cents on the dollar) 15.9Paying taxes (rank) 61Payments (number per year) 35Time (hours per year) 114Total tax rate (% of profit) 38.7DOMINICA Latin America & Caribbean GNI per capita (US$) 4,250Ease of doing business (rank) 74 Upper middle income Population (m) 0.1Starting a business (rank) 21 Registering property (rank) 103 Trading across borders (rank) 82Procedures (number) 5 Procedures (number) 5 Documents to export (number) 7Time (days) 14 Time (days) 42 Time to export (days) 13Cost (% of income per capita) 25.5 Cost (% of property value) 13.7 Cost to export (US$ per container) 1,297Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 68 Time to import (days) 15Dealing with construction permits (rank) 24 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,310Procedures (number) 13 Depth of credit information index (0-6) 0Time (days) 182 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 164Cost (% of income per capita) 12.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 47Time (days) 681Employing workers (rank) 61 Protecting investors (rank) 24 Cost (% of claim) 36.0Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 8 Closing a business (rank) 181Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 7 Time (years) No practiceRigidity of employment index (0-100) 17 Strength of investor protection index (0-10) 6.3 Cost (% of estate) No practiceFiring cost (weeks of salary) 58 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 63Payments (number per year) 38Time (hours per year) 120Total tax rate (% of profit) 37.0(c) The International Bank for Reconstruction and Development / The World Bank

country tables 101DOMINICAN REPUBLIC Latin America & Caribbean GNI per capita (US$) 3,550Ease of doing business (rank) 97 Lower middle income Population (m) 9.8Starting a business (rank) 84 Registering property (rank) 106 Trading across borders (rank) 32Procedures (number) 8 Procedures (number) 7 Documents to export (number) 6Time (days) 19 Time (days) 60 Time to export (days) 9Cost (% of income per capita) 19.4 Cost (% of property value) 3.8 Cost to export (US$ per container) 916Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 68 Time to import (days) 10Dealing with construction permits (rank) 77 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,150Procedures (number) 17 Depth of credit information index (0-6) 6Time (days) 214 Public registry coverage (% of adults) 33.9 Enforcing contracts (rank) 83Cost (% of income per capita) 93.2 Private bureau coverage (% of adults) 35.0 Procedures (number) 34Time (days) 460Employing workers (rank) 97 Protecting investors (rank) 126 Cost (% of claim) 40.9Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 0 Closing a business (rank) 144Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 7 Time (years) 3.5Rigidity of employment index (0-100) 28 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 38Firing cost (weeks of salary) 88 Recovery rate (cents on the dollar) 8.9Paying taxes (rank) 72Payments (number per year) 9Time (hours per year) 480Total tax rate (% of profit) 35.7ECUADOR Latin America & Caribbean GNI per capita (US$) 3,080Ease of doing business (rank) 136 Lower middle income Population (m) 13.3Starting a business (rank) 158 Registering property (rank) 64 Trading across borders (rank) 124Procedures (number) 14 Procedures (number) 9 Documents to export (number) 9Time (days) 65 Time (days) 16 Time to export (days) 20Cost (% of income per capita) 38.5 Cost (% of property value) 2.2 Cost to export (US$ per container) 1,345Minimum capital (% of income per capita) 12.7 Documents to import (number) 7Getting credit (rank) 84 Time to import (days) 29Dealing with construction permits (rank) 85 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,332Procedures (number) 19 Depth of credit information index (0-6) 5Time (days) 155 Public registry coverage (% of adults) 37.7 Enforcing contracts (rank) 101Cost (% of income per capita) 272.7 Private bureau coverage (% of adults) 46.8 Procedures (number) 39Time (days) 588Employing workers (rank) 171 Protecting investors (rank) 126 Cost (% of claim) 27.2Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 1Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 5 Closing a business (rank) 131Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 6 Time (years) 5.3Rigidity of employment index (0-100) 51 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 18Firing cost (weeks of salary) 135 Recovery rate (cents on the dollar) 16.1Paying taxes (rank) 69Payments (number per year) 8Time (hours per year) 600Total tax rate (% of profit) 34.9EGYPT Middle East & North Africa GNI per capita (US$) 1,580Ease of doing business (rank) 114 Lower middle income Population (m) 75.5Starting a business (rank) 41 Registering property (rank) 85 Trading across borders (rank) 24Procedures (number) 6 Procedures (number) 7 Documents to export (number) 6Time (days) 7 Time (days) 72 Time to export (days) 14Cost (% of income per capita) 18.3 Cost (% of property value) 0.9 Cost to export (US$ per container) 737Minimum capital (% of income per capita) 2.0 Documents to import (number) 6Getting credit (rank) 84 Time to import (days) 15Dealing with construction permits (rank) 165 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 823Procedures (number) 28 Depth of credit information index (0-6) 5Time (days) 249 Public registry coverage (% of adults) 2.2 Enforcing contracts (rank) 151Cost (% of income per capita) 376.7 Private bureau coverage (% of adults) 4.7 Procedures (number) 42Time (days) 1,010Employing workers (rank) 107 Protecting investors (rank) 70 Cost (% of claim) 26.2Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 3 Closing a business (rank) 128Difficulty of firing index (0-100) 60 Ease of shareholder suits index (0-10) 5 Time (years) 4.2Rigidity of employment index (0-100) 27 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 22Firing cost (weeks of salary) 132 Recovery rate (cents on the dollar) 16.8Paying taxes (rank) 144Payments (number per year) 29Time (hours per year) 711Total tax rate (% of profit) 46.1(c) The International Bank for Reconstruction and Development / The World Bank

102 Doing Business 2009EL SALVADOR Latin America & Caribbean GNI per capita (US$) 2,850Ease of doing business (rank) 72 Lower middle income Population (m) 6.9Starting a business (rank) 103 Registering property (rank) 42 Trading across borders (rank) 57Procedures (number) 8 Procedures (number) 5 Documents to export (number) 8Time (days) 17 Time (days) 31 Time to export (days) 14Cost (% of income per capita) 49.6 Cost (% of property value) 3.7 Cost to export (US$ per container) 880Minimum capital (% of income per capita) 3.5 Documents to import (number) 9Getting credit (rank) 43 Time to import (days) 10Dealing with construction permits (rank) 121 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 820Procedures (number) 34 Depth of credit information index (0-6) 6Time (days) 155 Public registry coverage (% of adults) 18.4 Enforcing contracts (rank) 53Cost (% of income per capita) 176.3 Private bureau coverage (% of adults) 83.0 Procedures (number) 30Time (days) 786Employing workers (rank) 87 Protecting investors (rank) 113 Cost (% of claim) 19.2Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 2 Closing a business (rank) 78Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 6 Time (years) 4.0Rigidity of employment index (0-100) 24 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 9Firing cost (weeks of salary) 86 Recovery rate (cents on the dollar) 30.8Paying taxes (rank) 124Payments (number per year) 53Time (hours per year) 320Total tax rate (% of profit) 34.9EQUATORIAL GUINEA Sub-Saharan Africa GNI per capita (US$) 12,860Ease of doing business (rank) 167 High income Population (m) 0.5Starting a business (rank) 174 Registering property (rank) 69 Trading across borders (rank) 133Procedures (number) 20 Procedures (number) 6 Documents to export (number) 7Time (days) 136 Time (days) 23 Time to export (days) 30Cost (% of income per capita) 101.7 Cost (% of property value) 6.2 Cost to export (US$ per container) 1,411Minimum capital (% of income per capita) 15.4 Documents to import (number) 7Getting credit (rank) 131 Time to import (days) 49Dealing with construction permits (rank) 87 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,411Procedures (number) 18 Depth of credit information index (0-6) 2Time (days) 201 Public registry coverage (% of adults) 2.7 Enforcing contracts (rank) 69Cost (% of income per capita) 159.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 40Time (days) 553Employing workers (rank) 178 Protecting investors (rank) 142 Cost (% of claim) 18.5Difficulty of hiring index (0-100) 67 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 181Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 4 Time (years) No practiceRigidity of employment index (0-100) 66 Strength of investor protection index (0-10) 3.7 Cost (% of estate) No practiceFiring cost (weeks of salary) 133 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 161Payments (number per year) 46Time (hours per year) 296Total tax rate (% of profit) 59.5ERITREA Sub-Saharan Africa GNI per capita (US$) 230Ease of doing business (rank) 173 Low income Population (m) 4.8Starting a business (rank) 178 Registering property (rank) 165 Trading across borders (rank) 163Procedures (number) 13 Procedures (number) 12 Documents to export (number) 9Time (days) 84 Time (days) 101 Time to export (days) 50Cost (% of income per capita) 102.2 Cost (% of property value) 5.2 Cost to export (US$ per container) 1,431Minimum capital (% of income per capita) 396.7 Documents to import (number) 13Getting credit (rank) 172 Time to import (days) 60Dealing with construction permits (rank) 181 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 1,581Procedures (number) No practice Depth of credit information index (0-6) 0Time (days) No practice Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 51Cost (% of income per capita) No practice Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 405Employing workers (rank) 65 Protecting investors (rank) 104 Cost (% of claim) 22.6Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 181Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 5 Time (years) No practiceRigidity of employment index (0-100) 20 Strength of investor protection index (0-10) 4.7 Cost (% of estate) No practiceFiring cost (weeks of salary) 69 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 105Payments (number per year) 18Time (hours per year) 216Total tax rate (% of profit) 84.5(c) The International Bank for Reconstruction and Development / The World Bank

country tables 103ESTONIA Eastern Europe & Central Asia GNI per capita (US$) 13,200Ease of doing business (rank) 22 High income Population (m) 1.3Starting a business (rank) 23 Registering property (rank) 24 Trading across borders (rank) 5Procedures (number) 5 Procedures (number) 3 Documents to export (number) 3Time (days) 7 Time (days) 51 Time to export (days) 5Cost (% of income per capita) 1.7 Cost (% of property value) 0.4 Cost to export (US$ per container) 730Minimum capital (% of income per capita) 23.7 Documents to import (number) 4Getting credit (rank) 43 Time to import (days) 5Dealing with construction permits (rank) 19 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 740Procedures (number) 14 Depth of credit information index (0-6) 5Time (days) 118 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 30Cost (% of income per capita) 27.5 Private bureau coverage (% of adults) 20.6 Procedures (number) 36Time (days) 425Employing workers (rank) 163 Protecting investors (rank) 53 Cost (% of claim) 18.9Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 80 Extent of director liability index (0-10) 3 Closing a business (rank) 58Difficulty of firing index (0-100) 60 Ease of shareholder suits index (0-10) 6 Time (years) 3.0Rigidity of employment index (0-100) 58 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 9Firing cost (weeks of salary) 35 Recovery rate (cents on the dollar) 37.5Paying taxes (rank) 34Payments (number per year) 10Time (hours per year) 81Total tax rate (% of profit) 48.6ETHIOPIA Sub-Saharan Africa GNI per capita (US$) 220Ease of doing business (rank) 116 Low income Population (m) 79.1Starting a business (rank) 118 Registering property (rank) 154 Trading across borders (rank) 152Procedures (number) 7 Procedures (number) 13 Documents to export (number) 8Time (days) 16 Time (days) 43 Time to export (days) 46Cost (% of income per capita) 29.8 Cost (% of property value) 7.1 Cost to export (US$ per container) 2,087Minimum capital (% of income per capita) 693.6 Documents to import (number) 8Getting credit (rank) 123 Time to import (days) 42Dealing with construction permits (rank) 59 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 2,893Procedures (number) 12 Depth of credit information index (0-6) 2Time (days) 128 Public registry coverage (% of adults) 0.1 Enforcing contracts (rank) 78Cost (% of income per capita) 790.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 690Employing workers (rank) 95 Protecting investors (rank) 113 Cost (% of claim) 15.2Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 4 Closing a business (rank) 74Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 5 Time (years) 3.0Rigidity of employment index (0-100) 34 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 15Firing cost (weeks of salary) 40 Recovery rate (cents on the dollar) 32.2Paying taxes (rank) 37Payments (number per year) 20Time (hours per year) 198Total tax rate (% of profit) 31.1FIJI East Asia & Pacific GNI per capita (US$) 3,800Ease of doing business (rank) 39 Upper middle income Population (m) 0.8Starting a business (rank) 87 Registering property (rank) 40 Trading across borders (rank) 108Procedures (number) 8 Procedures (number) 3 Documents to export (number) 13Time (days) 46 Time (days) 68 Time to export (days) 24Cost (% of income per capita) 25.2 Cost (% of property value) 2.0 Cost to export (US$ per container) 654Minimum capital (% of income per capita) 0.0 Documents to import (number) 13Getting credit (rank) 12 Time to import (days) 24Dealing with construction permits (rank) 55 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 630Procedures (number) 19 Depth of credit information index (0-6) 4Time (days) 135 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 64Cost (% of income per capita) 51.2 Private bureau coverage (% of adults) 42.3 Procedures (number) 34Time (days) 397Employing workers (rank) 32 Protecting investors (rank) 38 Cost (% of claim) 38.9Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 8 Closing a business (rank) 119Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 7 Time (years) 1.8Rigidity of employment index (0-100) 17 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 38Firing cost (weeks of salary) 22 Recovery rate (cents on the dollar) 20.1Paying taxes (rank) 71Payments (number per year) 33Time (hours per year) 140Total tax rate (% of profit) 41.5(c) The International Bank for Reconstruction and Development / The World Bank

104 Doing Business 2009FINLAND OECD: High Income GNI per capita (US$) 44,400Ease of doing business (rank) 14 High income Population (m) 5.3Starting a business (rank) 18 Registering property (rank) 21 Trading across borders (rank) 4Procedures (number) 3 Procedures (number) 3 Documents to export (number) 4Time (days) 14 Time (days) 14 Time to export (days) 8Cost (% of income per capita) 1.0 Cost (% of property value) 4.0 Cost to export (US$ per container) 495Minimum capital (% of income per capita) 7.4 Documents to import (number) 5Getting credit (rank) 28 Time to import (days) 8Dealing with construction permits (rank) 43 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 575Procedures (number) 18 Depth of credit information index (0-6) 5Time (days) 38 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 5Cost (% of income per capita) 118.3 Private bureau coverage (% of adults) 14.8 Procedures (number) 32Time (days) 235Employing workers (rank) 129 Protecting investors (rank) 53 Cost (% of claim) 10.4Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 4 Closing a business (rank) 5Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 7 Time (years) 0.9Rigidity of employment index (0-100) 48 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 4Firing cost (weeks of salary) 26 Recovery rate (cents on the dollar) 87.3Paying taxes (rank) 97Payments (number per year) 20Time (hours per year) 269Total tax rate (% of profit) 47.8FRANCE OECD: High Income GNI per capita (US$) 38,500Ease of doing business (rank) 31 High income Population (m) 61.7Starting a business (rank) 14 Registering property (rank) 166 Trading across borders (rank) 22Procedures (number) 5 Procedures (number) 9 Documents to export (number) 2Time (days) 7 Time (days) 113 Time to export (days) 9Cost (% of income per capita) 1.0 Cost (% of property value) 6.3 Cost to export (US$ per container) 1,078Minimum capital (% of income per capita) 0.0 Documents to import (number) 2Getting credit (rank) 43 Time to import (days) 11Dealing with construction permits (rank) 18 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,248Procedures (number) 13 Depth of credit information index (0-6) 4Time (days) 137 Public registry coverage (% of adults) 28.3 Enforcing contracts (rank) 10Cost (% of income per capita) 23.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 30Time (days) 331Employing workers (rank) 148 Protecting investors (rank) 70 Cost (% of claim) 17.4Difficulty of hiring index (0-100) 67 Extent of disclosure index (0-10) 10Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 40Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 5 Time (years) 1.9Rigidity of employment index (0-100) 56 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 9Firing cost (weeks of salary) 32 Recovery rate (cents on the dollar) 44.7Paying taxes (rank) 66Payments (number per year) 11Time (hours per year) 132Total tax rate (% of profit) 65.4GABON Sub-Saharan Africa GNI per capita (US$) 6,670Ease of doing business (rank) 151 Upper middle income Population (m) 1.3Starting a business (rank) 148 Registering property (rank) 158 Trading across borders (rank) 128Procedures (number) 9 Procedures (number) 8 Documents to export (number) 7Time (days) 58 Time (days) 60 Time to export (days) 20Cost (% of income per capita) 20.3 Cost (% of property value) 10.5 Cost to export (US$ per container) 1,945Minimum capital (% of income per capita) 30.2 Documents to import (number) 8Getting credit (rank) 131 Time to import (days) 22Dealing with construction permits (rank) 60 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,955Procedures (number) 16 Depth of credit information index (0-6) 2Time (days) 210 Public registry coverage (% of adults) 20.7 Enforcing contracts (rank) 147Cost (% of income per capita) 39.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 38Time (days) 1,070Employing workers (rank) 154 Protecting investors (rank) 150 Cost (% of claim) 34.3Difficulty of hiring index (0-100) 17 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 134Difficulty of firing index (0-100) 80 Ease of shareholder suits index (0-10) 3 Time (years) 5.0Rigidity of employment index (0-100) 52 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 15Firing cost (weeks of salary) 43 Recovery rate (cents on the dollar) 15.2Paying taxes (rank) 101Payments (number per year) 26Time (hours per year) 272Total tax rate (% of profit) 44.7(c) The International Bank for Reconstruction and Development / The World Bank

country tables 105GAMBIA, THE Sub-Saharan Africa GNI per capita (US$) 320Ease of doing business (rank) 130 Low income Population (m) 1.7Starting a business (rank) 101 Registering property (rank) 111 Trading across borders (rank) 73Procedures (number) 8 Procedures (number) 5 Documents to export (number) 6Time (days) 27 Time (days) 371 Time to export (days) 24Cost (% of income per capita) 254.9 Cost (% of property value) 4.6 Cost to export (US$ per container) 831Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 131 Time to import (days) 23Dealing with construction permits (rank) 74 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 922Procedures (number) 17 Depth of credit information index (0-6) 0Time (days) 146 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 63Cost (% of income per capita) 394.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 32Time (days) 434Employing workers (rank) 55 Protecting investors (rank) 170 Cost (% of claim) 37.9Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 1 Closing a business (rank) 120Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 5 Time (years) 3.0Rigidity of employment index (0-100) 27 Strength of investor protection index (0-10) 2.7 Cost (% of estate) 15Firing cost (weeks of salary) 26 Recovery rate (cents on the dollar) 19.5Paying taxes (rank) 175Payments (number per year) 50Time (hours per year) 376Total tax rate (% of profit) 292.4GEORGIA Eastern Europe & Central Asia GNI per capita (US$) 2,120Ease of doing business (rank) 15 Lower middle income Population (m) 4.4Starting a business (rank) 4 Registering property (rank) 2 Trading across borders (rank) 81Procedures (number) 3 Procedures (number) 2 Documents to export (number) 8Time (days) 3 Time (days) 3 Time to export (days) 12Cost (% of income per capita) 4.0 Cost (% of property value) 0.0 Cost to export (US$ per container) 1,380Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 28 Time to import (days) 14Dealing with construction permits (rank) 10 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,340Procedures (number) 12 Depth of credit information index (0-6) 6Time (days) 113 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 43Cost (% of income per capita) 20.3 Private bureau coverage (% of adults) 4.5 Procedures (number) 36Time (days) 285Employing workers (rank) 5 Protecting investors (rank) 38 Cost (% of claim) 29.9Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 6 Closing a business (rank) 92Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 4 Time (years) 3.3Rigidity of employment index (0-100) 7 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 4Firing cost (weeks of salary) 4 Recovery rate (cents on the dollar) 27.9Paying taxes (rank) 110Payments (number per year) 30Time (hours per year) 387Total tax rate (% of profit) 38.6GERMANY OECD: High Income GNI per capita (US$) 38,860Ease of doing business (rank) 25 High income Population (m) 82.3Starting a business (rank) 102 Registering property (rank) 52 Trading across borders (rank) 11Procedures (number) 9 Procedures (number) 4 Documents to export (number) 4Time (days) 18 Time (days) 40 Time to export (days) 7Cost (% of income per capita) 5.6 Cost (% of property value) 5.2 Cost to export (US$ per container) 822Minimum capital (% of income per capita) 42.2 Documents to import (number) 5Getting credit (rank) 12 Time to import (days) 7Dealing with construction permits (rank) 15 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 887Procedures (number) 12 Depth of credit information index (0-6) 6Time (days) 100 Public registry coverage (% of adults) 0.7 Enforcing contracts (rank) 9Cost (% of income per capita) 62.2 Private bureau coverage (% of adults) 98.4 Procedures (number) 30Time (days) 394Employing workers (rank) 142 Protecting investors (rank) 88 Cost (% of claim) 14.4Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 5 Closing a business (rank) 33Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 5 Time (years) 1.2Rigidity of employment index (0-100) 44 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 8Firing cost (weeks of salary) 69 Recovery rate (cents on the dollar) 52.2Paying taxes (rank) 80Payments (number per year) 16Time (hours per year) 196Total tax rate (% of profit) 50.5(c) The International Bank for Reconstruction and Development / The World Bank

106 Doing Business 2009GHANA Sub-Saharan Africa GNI per capita (US$) 590Ease of doing business (rank) 87 Low income Population (m) 23.5Starting a business (rank) 137 Registering property (rank) 31 Trading across borders (rank) 76Procedures (number) 9 Procedures (number) 5 Documents to export (number) 6Time (days) 34 Time (days) 34 Time to export (days) 19Cost (% of income per capita) 32.7 Cost (% of property value) 1.2 Cost to export (US$ per container) 1,003Minimum capital (% of income per capita) 16.6 Documents to import (number) 7Getting credit (rank) 109 Time to import (days) 29Dealing with construction permits (rank) 142 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,130Procedures (number) 18 Depth of credit information index (0-6) 0Time (days) 220 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 50Cost (% of income per capita) 1,282.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 36Time (days) 487Employing workers (rank) 145 Protecting investors (rank) 38 Cost (% of claim) 23.0Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 104Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 6 Time (years) 1.9Rigidity of employment index (0-100) 37 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 22Firing cost (weeks of salary) 178 Recovery rate (cents on the dollar) 24.0Paying taxes (rank) 65Payments (number per year) 33Time (hours per year) 224Total tax rate (% of profit) 32.7GREECE OECD: High Income GNI per capita (US$) 29,630Ease of doing business (rank) 96 High income Population (m) 11.2Starting a business (rank) 133 Registering property (rank) 101 Trading across borders (rank) 70Procedures (number) 15 Procedures (number) 11 Documents to export (number) 5Time (days) 19 Time (days) 22 Time to export (days) 20Cost (% of income per capita) 10.2 Cost (% of property value) 3.8 Cost to export (US$ per container) 1,153Minimum capital (% of income per capita) 19.6 Documents to import (number) 6Getting credit (rank) 109 Time to import (days) 25Dealing with construction permits (rank) 45 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,265Procedures (number) 15 Depth of credit information index (0-6) 4Time (days) 169 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 85Cost (% of income per capita) 46.4 Private bureau coverage (% of adults) 39.0 Procedures (number) 39Time (days) 819Employing workers (rank) 133 Protecting investors (rank) 150 Cost (% of claim) 14.4Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 1Rigidity of hours index (0-100) 80 Extent of director liability index (0-10) 4 Closing a business (rank) 41Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 5 Time (years) 2.0Rigidity of employment index (0-100) 51 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 9Firing cost (weeks of salary) 24 Recovery rate (cents on the dollar) 44.2Paying taxes (rank) 62Payments (number per year) 10Time (hours per year) 224Total tax rate (% of profit) 47.4GRENADA Latin America & Caribbean GNI per capita (US$) 4,670Ease of doing business (rank) 84 Upper middle income Population (m) 0.1Starting a business (rank) 40 Registering property (rank) 156 Trading across borders (rank) 63Procedures (number) 6 Procedures (number) 8 Documents to export (number) 6Time (days) 20 Time (days) 77 Time to export (days) 16Cost (% of income per capita) 30.2 Cost (% of property value) 7.4 Cost to export (US$ per container) 1,131Minimum capital (% of income per capita) 0.0 Documents to import (number) 5Getting credit (rank) 68 Time to import (days) 20Dealing with construction permits (rank) 16 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,478Procedures (number) 10 Depth of credit information index (0-6) 0Time (days) 149 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 163Cost (% of income per capita) 31.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 47Time (days) 723Employing workers (rank) 51 Protecting investors (rank) 24 Cost (% of claim) 32.6Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 8 Closing a business (rank) 181Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 7 Time (years) No practiceRigidity of employment index (0-100) 21 Strength of investor protection index (0-10) 6.3 Cost (% of estate) No practiceFiring cost (weeks of salary) 29 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 74Payments (number per year) 30Time (hours per year) 140Total tax rate (% of profit) 45.3(c) The International Bank for Reconstruction and Development / The World Bank

country tables 107GUATEMALA Latin America & Caribbean GNI per capita (US$) 2,440Ease of doing business (rank) 112 Lower middle income Population (m) 13.3Starting a business (rank) 147 Registering property (rank) 27 Trading across borders (rank) 123Procedures (number) 11 Procedures (number) 5 Documents to export (number) 10Time (days) 26 Time (days) 30 Time to export (days) 19Cost (% of income per capita) 50.6 Cost (% of property value) 1.1 Cost to export (US$ per container) 1,182Minimum capital (% of income per capita) 26.3 Documents to import (number) 10Getting credit (rank) 28 Time to import (days) 18Dealing with construction permits (rank) 164 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,302Procedures (number) 22 Depth of credit information index (0-6) 5Time (days) 215 Public registry coverage (% of adults) 16.1 Enforcing contracts (rank) 106Cost (% of income per capita) 1,204.1 Private bureau coverage (% of adults) 19.7 Procedures (number) 31Time (days) 1,459Employing workers (rank) 106 Protecting investors (rank) 126 Cost (% of claim) 26.5Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 3 Closing a business (rank) 90Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 6 Time (years) 3.0Rigidity of employment index (0-100) 28 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 15Firing cost (weeks of salary) 101 Recovery rate (cents on the dollar) 28.2Paying taxes (rank) 120Payments (number per year) 39Time (hours per year) 344Total tax rate (% of profit) 36.5GUINEA Sub-Saharan Africa GNI per capita (US$) 400Ease of doing business (rank) 171 Low income Population (m) 9.4Starting a business (rank) 177 Registering property (rank) 157 Trading across borders (rank) 110Procedures (number) 13 Procedures (number) 6 Documents to export (number) 7Time (days) 41 Time (days) 104 Time to export (days) 33Cost (% of income per capita) 135.7 Cost (% of property value) 13.9 Cost to export (US$ per container) 720Minimum capital (% of income per capita) 476.9 Documents to import (number) 9Getting credit (rank) 163 Time to import (days) 32Dealing with construction permits (rank) 162 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,191Procedures (number) 32 Depth of credit information index (0-6) 0Time (days) 255 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 131Cost (% of income per capita) 243.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 50Time (days) 276Employing workers (rank) 114 Protecting investors (rank) 170 Cost (% of claim) 45.0Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 109Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 1 Time (years) 3.8Rigidity of employment index (0-100) 44 Strength of investor protection index (0-10) 2.7 Cost (% of estate) 8Firing cost (weeks of salary) 26 Recovery rate (cents on the dollar) 22.0Paying taxes (rank) 168Payments (number per year) 56Time (hours per year) 416Total tax rate (% of profit) 49.9GUINEA-BISSAU Sub-Saharan Africa GNI per capita (US$) 200Ease of doing business (rank) 179 Low income Population (m) 1.7Starting a business (rank) 181 Registering property (rank) 170 Trading across borders (rank) 111Procedures (number) 17 Procedures (number) 9 Documents to export (number) 6Time (days) 233 Time (days) 211 Time to export (days) 25Cost (% of income per capita) 257.7 Cost (% of property value) 5.4 Cost to export (US$ per container) 1,545Minimum capital (% of income per capita) 1,015.0 Documents to import (number) 6Getting credit (rank) 145 Time to import (days) 24Dealing with construction permits (rank) 109 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,349Procedures (number) 15 Depth of credit information index (0-6) 1Time (days) 167 Public registry coverage (% of adults) 1.0 Enforcing contracts (rank) 139Cost (% of income per capita) 2,628.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 41Time (days) 1,140Employing workers (rank) 176 Protecting investors (rank) 126 Cost (% of claim) 25.0Difficulty of hiring index (0-100) 67 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 181Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 5 Time (years) No practiceRigidity of employment index (0-100) 66 Strength of investor protection index (0-10) 4.0 Cost (% of estate) No practiceFiring cost (weeks of salary) 87 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 117Payments (number per year) 46Time (hours per year) 208Total tax rate (% of profit) 45.9(c) The International Bank for Reconstruction and Development / The World Bank

108 Doing Business 2009GUYANA Latin America & Caribbean GNI per capita (US$) 1,300Ease of doing business (rank) 105 Lower middle income Population (m) 0.7Starting a business (rank) 100 Registering property (rank) 63 Trading across borders (rank) 113Procedures (number) 8 Procedures (number) 6 Documents to export (number) 7Time (days) 40 Time (days) 34 Time to export (days) 30Cost (% of income per capita) 68.4 Cost (% of property value) 4.5 Cost to export (US$ per container) 1,050Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 145 Time to import (days) 35Dealing with construction permits (rank) 37 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,056Procedures (number) 11 Depth of credit information index (0-6) 0Time (days) 133 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 73Cost (% of income per capita) 255.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 36Time (days) 581Employing workers (rank) 72 Protecting investors (rank) 70 Cost (% of claim) 25.2Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 5 Closing a business (rank) 126Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 6 Time (years) 3.0Rigidity of employment index (0-100) 21 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 29Firing cost (weeks of salary) 56 Recovery rate (cents on the dollar) 17.6Paying taxes (rank) 108Payments (number per year) 34Time (hours per year) 288Total tax rate (% of profit) 39.4HAITI Latin America & Caribbean GNI per capita (US$) 560Ease of doing business (rank) 154 Low income Population (m) 9.6Starting a business (rank) 176 Registering property (rank) 128 Trading across borders (rank) 146Procedures (number) 13 Procedures (number) 5 Documents to export (number) 8Time (days) 195 Time (days) 405 Time to export (days) 43Cost (% of income per capita) 159.6 Cost (% of property value) 6.4 Cost to export (US$ per container) 1,020Minimum capital (% of income per capita) 26.6 Documents to import (number) 10Getting credit (rank) 145 Time to import (days) 37Dealing with construction permits (rank) 126 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 1,560Procedures (number) 11 Depth of credit information index (0-6) 2Time (days) 1,179 Public registry coverage (% of adults) 0.7 Enforcing contracts (rank) 92Cost (% of income per capita) 675.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 35Time (days) 508Employing workers (rank) 35 Protecting investors (rank) 164 Cost (% of claim) 42.6Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 3 Closing a business (rank) 153Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 4 Time (years) 5.7Rigidity of employment index (0-100) 21 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 30Firing cost (weeks of salary) 17 Recovery rate (cents on the dollar) 2.7Paying taxes (rank) 91Payments (number per year) 42Time (hours per year) 160Total tax rate (% of profit) 40.1HONDURAS Latin America & Caribbean GNI per capita (US$) 1,600Ease of doing business (rank) 133 Lower middle income Population (m) 7.1Starting a business (rank) 146 Registering property (rank) 90 Trading across borders (rank) 107Procedures (number) 13 Procedures (number) 7 Documents to export (number) 7Time (days) 20 Time (days) 23 Time to export (days) 20Cost (% of income per capita) 52.6 Cost (% of property value) 5.6 Cost to export (US$ per container) 1,163Minimum capital (% of income per capita) 20.0 Documents to import (number) 10Getting credit (rank) 28 Time to import (days) 23Dealing with construction permits (rank) 71 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,190Procedures (number) 17 Depth of credit information index (0-6) 6Time (days) 125 Public registry coverage (% of adults) 11.3 Enforcing contracts (rank) 176Cost (% of income per capita) 464.6 Private bureau coverage (% of adults) 60.5 Procedures (number) 45Time (days) 900Employing workers (rank) 156 Protecting investors (rank) 150 Cost (% of claim) 35.2Difficulty of hiring index (0-100) 89 Extent of disclosure index (0-10) 1Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 5 Closing a business (rank) 115Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 4 Time (years) 3.8Rigidity of employment index (0-100) 53 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 15Firing cost (weeks of salary) 74 Recovery rate (cents on the dollar) 20.8Paying taxes (rank) 137Payments (number per year) 47Time (hours per year) 224Total tax rate (% of profit) 49.3(c) The International Bank for Reconstruction and Development / The World Bank

country tables 109HONG KONG, CHINA East Asia & Pacific GNI per capita (US$) 31,610Ease of doing business (rank) 4 High income Population (m) 6.9Starting a business (rank) 15 Registering property (rank) 74 Trading across borders (rank) 2Procedures (number) 5 Procedures (number) 5 Documents to export (number) 4Time (days) 11 Time (days) 54 Time to export (days) 6Cost (% of income per capita) 2.0 Cost (% of property value) 5.0 Cost to export (US$ per container) 625Minimum capital (% of income per capita) 0.0 Documents to import (number) 4Getting credit (rank) 2 Time to import (days) 5Dealing with construction permits (rank) 20 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 633Procedures (number) 15 Depth of credit information index (0-6) 5Time (days) 119 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 1Cost (% of income per capita) 18.7 Private bureau coverage (% of adults) 69.9 Procedures (number) 24Time (days) 211Employing workers (rank) 20 Protecting investors (rank) 3 Cost (% of claim) 14.5Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 10Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 8 Closing a business (rank) 13Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 9 Time (years) 1.1Rigidity of employment index (0-100) 0 Strength of investor protection index (0-10) 9.0 Cost (% of estate) 9Firing cost (weeks of salary) 62 Recovery rate (cents on the dollar) 79.8Paying taxes (rank) 3Payments (number per year) 4Time (hours per year) 80Total tax rate (% of profit) 24.2HUNGARY OECD: High Income GNI per capita (US$) 11,570Ease of doing business (rank) 41 High income Population (m) 10.1Starting a business (rank) 27 Registering property (rank) 57 Trading across borders (rank) 68Procedures (number) 4 Procedures (number) 4 Documents to export (number) 5Time (days) 5 Time (days) 17 Time to export (days) 18Cost (% of income per capita) 8.4 Cost (% of property value) 11.0 Cost to export (US$ per container) 1,300Minimum capital (% of income per capita) 10.8 Documents to import (number) 7Getting credit (rank) 28 Time to import (days) 17Dealing with construction permits (rank) 89 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,290Procedures (number) 31 Depth of credit information index (0-6) 5Time (days) 204 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 12Cost (% of income per capita) 10.3 Private bureau coverage (% of adults) 10.0 Procedures (number) 33Time (days) 335Employing workers (rank) 84 Protecting investors (rank) 113 Cost (% of claim) 13.0Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 80 Extent of director liability index (0-10) 4 Closing a business (rank) 55Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 7 Time (years) 2.0Rigidity of employment index (0-100) 30 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 15Firing cost (weeks of salary) 35 Recovery rate (cents on the dollar) 38.4Paying taxes (rank) 111Payments (number per year) 14Time (hours per year) 330Total tax rate (% of profit) 57.5ICELAND OECD: High Income GNI per capita (US$) 54,100Ease of doing business (rank) 11 High income Population (m) 0.3Starting a business (rank) 17 Registering property (rank) 15 Trading across borders (rank) 34Procedures (number) 5 Procedures (number) 3 Documents to export (number) 5Time (days) 5 Time (days) 4 Time to export (days) 15Cost (% of income per capita) 2.6 Cost (% of property value) 2.4 Cost to export (US$ per container) 1,109Minimum capital (% of income per capita) 13.6 Documents to import (number) 5Getting credit (rank) 28 Time to import (days) 14Dealing with construction permits (rank) 28 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,183Procedures (number) 18 Depth of credit information index (0-6) 5Time (days) 75 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 3Cost (% of income per capita) 19.2 Private bureau coverage (% of adults) 100.0 Procedures (number) 26Time (days) 393Employing workers (rank) 62 Protecting investors (rank) 70 Cost (% of claim) 6.2Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 16Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 6 Time (years) 1.0Rigidity of employment index (0-100) 31 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 4Firing cost (weeks of salary) 13 Recovery rate (cents on the dollar) 76.6Paying taxes (rank) 32Payments (number per year) 31Time (hours per year) 140Total tax rate (% of profit) 26.8(c) The International Bank for Reconstruction and Development / The World Bank

110 Doing Business 2009INDIA South Asia GNI per capita (US$) 950Ease of doing business (rank) 122 Lower middle income Population (m) 1,123.3Starting a business (rank) 121 Registering property (rank) 105 Trading across borders (rank) 90Procedures (number) 13 Procedures (number) 6 Documents to export (number) 8Time (days) 30 Time (days) 45 Time to export (days) 17Cost (% of income per capita) 70.1 Cost (% of property value) 7.5 Cost to export (US$ per container) 945Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 28 Time to import (days) 20Dealing with construction permits (rank) 136 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 960Procedures (number) 20 Depth of credit information index (0-6) 4Time (days) 224 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 180Cost (% of income per capita) 414.7 Private bureau coverage (% of adults) 10.5 Procedures (number) 46Time (days) 1,420Employing workers (rank) 89 Protecting investors (rank) 38 Cost (% of claim) 39.6Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 4 Closing a business (rank) 140Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 7 Time (years) 10.0Rigidity of employment index (0-100) 30 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 9Firing cost (weeks of salary) 56 Recovery rate (cents on the dollar) 10.4Paying taxes (rank) 169Payments (number per year) 60Time (hours per year) 271Total tax rate (% of profit) 71.5INDONESIA East Asia & Pacific GNI per capita (US$) 1,650Ease of doing business (rank) 129 Lower middle income Population (m) 225.6Starting a business (rank) 171 Registering property (rank) 107 Trading across borders (rank) 37Procedures (number) 11 Procedures (number) 6 Documents to export (number) 5Time (days) 76 Time (days) 39 Time to export (days) 21Cost (% of income per capita) 77.9 Cost (% of property value) 10.7 Cost to export (US$ per container) 704Minimum capital (% of income per capita) 74.2 Documents to import (number) 6Getting credit (rank) 109 Time to import (days) 27Dealing with construction permits (rank) 80 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 660Procedures (number) 18 Depth of credit information index (0-6) 4Time (days) 176 Public registry coverage (% of adults) 26.1 Enforcing contracts (rank) 140Cost (% of income per capita) 221.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 570Employing workers (rank) 157 Protecting investors (rank) 53 Cost (% of claim) 122.7Difficulty of hiring index (0-100) 61 Extent of disclosure index (0-10) 9Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 5 Closing a business (rank) 139Difficulty of firing index (0-100) 60 Ease of shareholder suits index (0-10) 3 Time (years) 5.5Rigidity of employment index (0-100) 40 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 18Firing cost (weeks of salary) 108 Recovery rate (cents on the dollar) 13.7Paying taxes (rank) 116Payments (number per year) 51Time (hours per year) 266Total tax rate (% of profit) 37.3IRAN Middle East & North Africa GNI per capita (US$) 3,470Ease of doing business (rank) 142 Lower middle income Population (m) 71.0Starting a business (rank) 96 Registering property (rank) 147 Trading across borders (rank) 142Procedures (number) 8 Procedures (number) 9 Documents to export (number) 8Time (days) 47 Time (days) 36 Time to export (days) 26Cost (% of income per capita) 4.6 Cost (% of property value) 10.6 Cost to export (US$ per container) 1,011Minimum capital (% of income per capita) 1.0 Documents to import (number) 10Getting credit (rank) 84 Time to import (days) 42Dealing with construction permits (rank) 165 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,656Procedures (number) 19 Depth of credit information index (0-6) 3Time (days) 670 Public registry coverage (% of adults) 21.7 Enforcing contracts (rank) 56Cost (% of income per capita) 514.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 520Employing workers (rank) 147 Protecting investors (rank) 164 Cost (% of claim) 17.0Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 4 Closing a business (rank) 107Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 0 Time (years) 4.5Rigidity of employment index (0-100) 40 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 9Firing cost (weeks of salary) 91 Recovery rate (cents on the dollar) 23.1Paying taxes (rank) 104Payments (number per year) 22Time (hours per year) 344Total tax rate (% of profit) 44.2(c) The International Bank for Reconstruction and Development / The World Bank

country tables 111IRAQ Middle East & North Africa GNI per capita (US$) 1,224Ease of doing business (rank) 152 Lower middle income Population (m) 28.5Starting a business (rank) 175 Registering property (rank) 43 Trading across borders (rank) 178Procedures (number) 11 Procedures (number) 5 Documents to export (number) 10Time (days) 77 Time (days) 8 Time to export (days) 102Cost (% of income per capita) 150.7 Cost (% of property value) 6.5 Cost to export (US$ per container) 3,900Minimum capital (% of income per capita) 59.1 Documents to import (number) 10Getting credit (rank) 163 Time to import (days) 101Dealing with construction permits (rank) 111 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 3,900Procedures (number) 14 Depth of credit information index (0-6) 0Time (days) 215 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 148Cost (% of income per capita) 915.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 51Time (days) 520Employing workers (rank) 67 Protecting investors (rank) 113 Cost (% of claim) 32.5Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 5 Closing a business (rank) 181Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 4 Time (years) No practiceRigidity of employment index (0-100) 38 Strength of investor protection index (0-10) 4.3 Cost (% of estate) No practiceFiring cost (weeks of salary) 0 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 43Payments (number per year) 13Time (hours per year) 312Total tax rate (% of profit) 24.7IRELAND OECD: High Income GNI per capita (US$) 48,140Ease of doing business (rank) 7 High income Population (m) 4.4Starting a business (rank) 5 Registering property (rank) 82 Trading across borders (rank) 18Procedures (number) 4 Procedures (number) 5 Documents to export (number) 4Time (days) 13 Time (days) 38 Time to export (days) 7Cost (% of income per capita) 0.3 Cost (% of property value) 9.6 Cost to export (US$ per container) 1,109Minimum capital (% of income per capita) 0.0 Documents to import (number) 4Getting credit (rank) 12 Time to import (days) 12Dealing with construction permits (rank) 30 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,121Procedures (number) 11 Depth of credit information index (0-6) 5Time (days) 185 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 39Cost (% of income per capita) 44.4 Private bureau coverage (% of adults) 100.0 Procedures (number) 20Time (days) 515Employing workers (rank) 38 Protecting investors (rank) 5 Cost (% of claim) 26.9Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 10Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 6 Closing a business (rank) 6Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 9 Time (years) 0.4Rigidity of employment index (0-100) 17 Strength of investor protection index (0-10) 8.3 Cost (% of estate) 9Firing cost (weeks of salary) 24 Recovery rate (cents on the dollar) 86.6Paying taxes (rank) 6Payments (number per year) 9Time (hours per year) 76Total tax rate (% of profit) 28.8ISRAEL Middle East & North Africa GNI per capita (US$) 21,900Ease of doing business (rank) 30 High income Population (m) 7.2Starting a business (rank) 24 Registering property (rank) 160 Trading across borders (rank) 9Procedures (number) 5 Procedures (number) 7 Documents to export (number) 5Time (days) 34 Time (days) 144 Time to export (days) 12Cost (% of income per capita) 4.4 Cost (% of property value) 7.5 Cost to export (US$ per container) 665Minimum capital (% of income per capita) 0.0 Documents to import (number) 4Getting credit (rank) 5 Time to import (days) 12Dealing with construction permits (rank) 120 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 605Procedures (number) 20 Depth of credit information index (0-6) 5Time (days) 235 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 102Cost (% of income per capita) 112.8 Private bureau coverage (% of adults) 91.0 Procedures (number) 35Time (days) 890Employing workers (rank) 92 Protecting investors (rank) 5 Cost (% of claim) 25.3Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 9 Closing a business (rank) 39Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 9 Time (years) 4.0Rigidity of employment index (0-100) 24 Strength of investor protection index (0-10) 8.3 Cost (% of estate) 23Firing cost (weeks of salary) 91 Recovery rate (cents on the dollar) 44.9Paying taxes (rank) 77Payments (number per year) 33Time (hours per year) 230Total tax rate (% of profit) 33.9(c) The International Bank for Reconstruction and Development / The World Bank

112 Doing Business 2009ITALY OECD: High Income GNI per capita (US$) 33,540Ease of doing business (rank) 65 High income Population (m) 59.4Starting a business (rank) 53 Registering property (rank) 58 Trading across borders (rank) 60Procedures (number) 6 Procedures (number) 8 Documents to export (number) 5Time (days) 10 Time (days) 27 Time to export (days) 20Cost (% of income per capita) 18.5 Cost (% of property value) 0.6 Cost to export (US$ per container) 1,305Minimum capital (% of income per capita) 9.7 Documents to import (number) 5Getting credit (rank) 84 Time to import (days) 18Dealing with construction permits (rank) 83 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,305Procedures (number) 14 Depth of credit information index (0-6) 5Time (days) 257 Public registry coverage (% of adults) 11.8 Enforcing contracts (rank) 156Cost (% of income per capita) 136.4 Private bureau coverage (% of adults) 74.9 Procedures (number) 41Time (days) 1,210Employing workers (rank) 75 Protecting investors (rank) 53 Cost (% of claim) 29.9Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 4 Closing a business (rank) 27Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 6 Time (years) 1.8Rigidity of employment index (0-100) 38 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 22Firing cost (weeks of salary) 11 Recovery rate (cents on the dollar) 56.6Paying taxes (rank) 128Payments (number per year) 15Time (hours per year) 334Total tax rate (% of profit) 73.3JAMAICA Latin America & Caribbean GNI per capita (US$) 3,710Ease of doing business (rank) 63 Upper middle income Population (m) 2.7Starting a business (rank) 11 Registering property (rank) 109 Trading across borders (rank) 100Procedures (number) 6 Procedures (number) 5 Documents to export (number) 6Time (days) 8 Time (days) 54 Time to export (days) 21Cost (% of income per capita) 7.9 Cost (% of property value) 11.0 Cost to export (US$ per container) 1,750Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 84 Time to import (days) 22Dealing with construction permits (rank) 49 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,420Procedures (number) 10 Depth of credit information index (0-6) 0Time (days) 156 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 127Cost (% of income per capita) 396.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 35Time (days) 655Employing workers (rank) 32 Protecting investors (rank) 70 Cost (% of claim) 45.6Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 8 Closing a business (rank) 22Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 4 Time (years) 1.1Rigidity of employment index (0-100) 4 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 18Firing cost (weeks of salary) 62 Recovery rate (cents on the dollar) 64.5Paying taxes (rank) 173Payments (number per year) 72Time (hours per year) 414Total tax rate (% of profit) 51.3JAPAN OECD: High Income GNI per capita (US$) 37,670Ease of doing business (rank) 12 High income Population (m) 127.8Starting a business (rank) 64 Registering property (rank) 51 Trading across borders (rank) 17Procedures (number) 8 Procedures (number) 6 Documents to export (number) 4Time (days) 23 Time (days) 14 Time to export (days) 10Cost (% of income per capita) 7.5 Cost (% of property value) 5.0 Cost to export (US$ per container) 989Minimum capital (% of income per capita) 0.0 Documents to import (number) 5Getting credit (rank) 12 Time to import (days) 11Dealing with construction permits (rank) 39 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,047Procedures (number) 15 Depth of credit information index (0-6) 6Time (days) 187 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 21Cost (% of income per capita) 19.1 Private bureau coverage (% of adults) 76.2 Procedures (number) 30Time (days) 316Employing workers (rank) 17 Protecting investors (rank) 15 Cost (% of claim) 22.7Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 6 Closing a business (rank) 1Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 8 Time (years) 0.6Rigidity of employment index (0-100) 17 Strength of investor protection index (0-10) 7.0 Cost (% of estate) 4Firing cost (weeks of salary) 4 Recovery rate (cents on the dollar) 92.5Paying taxes (rank) 112Payments (number per year) 13Time (hours per year) 355Total tax rate (% of profit) 55.4(c) The International Bank for Reconstruction and Development / The World Bank

country tables 113JORDAN Middle East & North Africa GNI per capita (US$) 2,850Ease of doing business (rank) 101 Lower middle income Population (m) 5.7Starting a business (rank) 131 Registering property (rank) 115 Trading across borders (rank) 74Procedures (number) 10 Procedures (number) 8 Documents to export (number) 7Time (days) 14 Time (days) 22 Time to export (days) 19Cost (% of income per capita) 60.4 Cost (% of property value) 10.0 Cost to export (US$ per container) 730Minimum capital (% of income per capita) 24.2 Documents to import (number) 7Getting credit (rank) 123 Time to import (days) 22Dealing with construction permits (rank) 74 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,290Procedures (number) 18 Depth of credit information index (0-6) 2Time (days) 122 Public registry coverage (% of adults) 1.0 Enforcing contracts (rank) 128Cost (% of income per capita) 443.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 689Employing workers (rank) 52 Protecting investors (rank) 113 Cost (% of claim) 31.2Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 4 Closing a business (rank) 93Difficulty of firing index (0-100) 60 Ease of shareholder suits index (0-10) 4 Time (years) 4.3Rigidity of employment index (0-100) 30 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 9Firing cost (weeks of salary) 4 Recovery rate (cents on the dollar) 27.3Paying taxes (rank) 22Payments (number per year) 26Time (hours per year) 101Total tax rate (% of profit) 31.1KAZAKHSTAN Eastern Europe & Central Asia GNI per capita (US$) 5,060Ease of doing business (rank) 70 Upper middle income Population (m) 15.5Starting a business (rank) 78 Registering property (rank) 25 Trading across borders (rank) 180Procedures (number) 8 Procedures (number) 5 Documents to export (number) 11Time (days) 21 Time (days) 40 Time to export (days) 89Cost (% of income per capita) 5.2 Cost (% of property value) 0.1 Cost to export (US$ per container) 3,005Minimum capital (% of income per capita) 15.9 Documents to import (number) 13Getting credit (rank) 43 Time to import (days) 76Dealing with construction permits (rank) 175 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 3,055Procedures (number) 38 Depth of credit information index (0-6) 6Time (days) 231 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 28Cost (% of income per capita) 1,431.8 Private bureau coverage (% of adults) 25.6 Procedures (number) 38Time (days) 230Employing workers (rank) 29 Protecting investors (rank) 53 Cost (% of claim) 22.0Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 1 Closing a business (rank) 100Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 9 Time (years) 3.3Rigidity of employment index (0-100) 23 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 18Firing cost (weeks of salary) 9 Recovery rate (cents on the dollar) 25.3Paying taxes (rank) 49Payments (number per year) 9Time (hours per year) 271Total tax rate (% of profit) 36.4KENYA Sub-Saharan Africa GNI per capita (US$) 680Ease of doing business (rank) 82 Low income Population (m) 37.5Starting a business (rank) 109 Registering property (rank) 119 Trading across borders (rank) 148Procedures (number) 12 Procedures (number) 8 Documents to export (number) 9Time (days) 30 Time (days) 64 Time to export (days) 29Cost (% of income per capita) 39.7 Cost (% of property value) 4.1 Cost to export (US$ per container) 2,055Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 5 Time to import (days) 26Dealing with construction permits (rank) 9 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 2,190Procedures (number) 10 Depth of credit information index (0-6) 4Time (days) 100 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 107Cost (% of income per capita) 46.3 Private bureau coverage (% of adults) 2.1 Procedures (number) 44Time (days) 465Employing workers (rank) 68 Protecting investors (rank) 88 Cost (% of claim) 26.7Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 2 Closing a business (rank) 76Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 10 Time (years) 4.5Rigidity of employment index (0-100) 17 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 22Firing cost (weeks of salary) 47 Recovery rate (cents on the dollar) 31.6Paying taxes (rank) 158Payments (number per year) 41Time (hours per year) 417Total tax rate (% of profit) 50.9(c) The International Bank for Reconstruction and Development / The World Bank

114 Doing Business 2009KIRIBATI East Asia & Pacific GNI per capita (US$) 1,170Ease of doing business (rank) 79 Lower middle income Population (m) 0.1Starting a business (rank) 111 Registering property (rank) 68 Trading across borders (rank) 69Procedures (number) 6 Procedures (number) 5 Documents to export (number) 6Time (days) 21 Time (days) 513 Time to export (days) 21Cost (% of income per capita) 64.6 Cost (% of property value) 0.1 Cost to export (US$ per container) 1,070Minimum capital (% of income per capita) 34.9 Documents to import (number) 7Getting credit (rank) 131 Time to import (days) 21Dealing with construction permits (rank) 76 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,070Procedures (number) 14 Depth of credit information index (0-6) 0Time (days) 160 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 75Cost (% of income per capita) 717.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 32Time (days) 660Employing workers (rank) 21 Protecting investors (rank) 38 Cost (% of claim) 25.8Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 5 Closing a business (rank) 181Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 7 Time (years) No practiceRigidity of employment index (0-100) 17 Strength of investor protection index (0-10) 6.0 Cost (% of estate) No practiceFiring cost (weeks of salary) 4 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 10Payments (number per year) 7Time (hours per year) 120Total tax rate (% of profit) 31.8KOREA OECD: High Income GNI per capita (US$) 19,690Ease of doing business (rank) 23 High income Population (m) 48.5Starting a business (rank) 126 Registering property (rank) 67 Trading across borders (rank) 12Procedures (number) 10 Procedures (number) 7 Documents to export (number) 4Time (days) 17 Time (days) 11 Time to export (days) 8Cost (% of income per capita) 16.9 Cost (% of property value) 5.1 Cost to export (US$ per container) 767Minimum capital (% of income per capita) 53.8 Documents to import (number) 6Getting credit (rank) 12 Time to import (days) 8Dealing with construction permits (rank) 23 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 747Procedures (number) 13 Depth of credit information index (0-6) 6Time (days) 34 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 8Cost (% of income per capita) 154.6 Private bureau coverage (% of adults) 90.4 Procedures (number) 35Time (days) 230Employing workers (rank) 152 Protecting investors (rank) 70 Cost (% of claim) 10.3Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 2 Closing a business (rank) 12Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 7 Time (years) 1.5Rigidity of employment index (0-100) 45 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 4Firing cost (weeks of salary) 91 Recovery rate (cents on the dollar) 80.5Paying taxes (rank) 43Payments (number per year) 14Time (hours per year) 250Total tax rate (% of profit) 33.7KUWAIT Middle East & North Africa GNI per capita (US$) 31,640Ease of doing business (rank) 52 High income Population (m) 2.7Starting a business (rank) 134 Registering property (rank) 83 Trading across borders (rank) 104Procedures (number) 13 Procedures (number) 8 Documents to export (number) 8Time (days) 35 Time (days) 55 Time to export (days) 20Cost (% of income per capita) 1.3 Cost (% of property value) 0.5 Cost to export (US$ per container) 995Minimum capital (% of income per capita) 81.7 Documents to import (number) 10Getting credit (rank) 84 Time to import (days) 20Dealing with construction permits (rank) 82 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,152Procedures (number) 25 Depth of credit information index (0-6) 4Time (days) 104 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 94Cost (% of income per capita) 171.4 Private bureau coverage (% of adults) 31.2 Procedures (number) 50Time (days) 566Employing workers (rank) 43 Protecting investors (rank) 24 Cost (% of claim) 13.3Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 7 Closing a business (rank) 66Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 5 Time (years) 4.2Rigidity of employment index (0-100) 13 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 1Firing cost (weeks of salary) 78 Recovery rate (cents on the dollar) 34.5Paying taxes (rank) 9Payments (number per year) 14Time (hours per year) 118Total tax rate (% of profit) 14.4(c) The International Bank for Reconstruction and Development / The World Bank

country tables 115KYRGYZ REPUBLIC Eastern Europe & Central Asia GNI per capita (US$) 590Ease of doing business (rank) 68 Low income Population (m) 5.2Starting a business (rank) 31 Registering property (rank) 52 Trading across borders (rank) 181Procedures (number) 4 Procedures (number) 7 Documents to export (number) 13Time (days) 15 Time (days) 8 Time to export (days) 64Cost (% of income per capita) 7.4 Cost (% of property value) 3.9 Cost to export (US$ per container) 3,000Minimum capital (% of income per capita) 0.4 Documents to import (number) 13Getting credit (rank) 28 Time to import (days) 75Dealing with construction permits (rank) 58 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 3,250Procedures (number) 13 Depth of credit information index (0-6) 5Time (days) 159 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 52Cost (% of income per capita) 405.7 Private bureau coverage (% of adults) 3.7 Procedures (number) 39Time (days) 177Employing workers (rank) 81 Protecting investors (rank) 11 Cost (% of claim) 29.0Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 9Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 137Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 9 Time (years) 4.0Rigidity of employment index (0-100) 38 Strength of investor protection index (0-10) 7.7 Cost (% of estate) 15Firing cost (weeks of salary) 17 Recovery rate (cents on the dollar) 14.2Paying taxes (rank) 155Payments (number per year) 75Time (hours per year) 202Total tax rate (% of profit) 61.4LAO PDR East Asia & Pacific GNI per capita (US$) 580Ease of doing business (rank) 165 Low income Population (m) 5.9Starting a business (rank) 92 Registering property (rank) 159 Trading across borders (rank) 165Procedures (number) 8 Procedures (number) 9 Documents to export (number) 9Time (days) 103 Time (days) 135 Time to export (days) 50Cost (% of income per capita) 14.1 Cost (% of property value) 4.1 Cost to export (US$ per container) 1,860Minimum capital (% of income per capita) 0.0 Documents to import (number) 10Getting credit (rank) 145 Time to import (days) 50Dealing with construction permits (rank) 110 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 2,040Procedures (number) 24 Depth of credit information index (0-6) 0Time (days) 172 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 111Cost (% of income per capita) 172.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 42Time (days) 443Employing workers (rank) 85 Protecting investors (rank) 180 Cost (% of claim) 31.6Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 0Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 3 Closing a business (rank) 181Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 2 Time (years) No practiceRigidity of employment index (0-100) 34 Strength of investor protection index (0-10) 1.7 Cost (% of estate) No practiceFiring cost (weeks of salary) 19 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 113Payments (number per year) 34Time (hours per year) 560Total tax rate (% of profit) 33.7LATVIA Eastern Europe & Central Asia GNI per capita (US$) 9,930Ease of doing business (rank) 29 Upper middle income Population (m) 2.3Starting a business (rank) 35 Registering property (rank) 77 Trading across borders (rank) 25Procedures (number) 5 Procedures (number) 7 Documents to export (number) 6Time (days) 16 Time (days) 50 Time to export (days) 13Cost (% of income per capita) 2.3 Cost (% of property value) 2.0 Cost to export (US$ per container) 900Minimum capital (% of income per capita) 16.9 Documents to import (number) 6Getting credit (rank) 12 Time to import (days) 12Dealing with construction permits (rank) 78 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 850Procedures (number) 25 Depth of credit information index (0-6) 4Time (days) 187 Public registry coverage (% of adults) 3.7 Enforcing contracts (rank) 4Cost (% of income per capita) 20.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 27Time (days) 279Employing workers (rank) 103 Protecting investors (rank) 53 Cost (% of claim) 16.0Difficulty of hiring index (0-100) 50 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 4 Closing a business (rank) 86Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 8 Time (years) 3.0Rigidity of employment index (0-100) 43 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 13Firing cost (weeks of salary) 17 Recovery rate (cents on the dollar) 29.0Paying taxes (rank) 36Payments (number per year) 7Time (hours per year) 279Total tax rate (% of profit) 33.0(c) The International Bank for Reconstruction and Development / The World Bank

116 Doing Business 2009LEBANON Middle East & North Africa GNI per capita (US$) 5,770Ease of doing business (rank) 99 Upper middle income Population (m) 4.1Starting a business (rank) 98 Registering property (rank) 102 Trading across borders (rank) 83Procedures (number) 5 Procedures (number) 8 Documents to export (number) 5Time (days) 11 Time (days) 25 Time to export (days) 27Cost (% of income per capita) 87.5 Cost (% of property value) 5.9 Cost to export (US$ per container) 872Minimum capital (% of income per capita) 57.0 Documents to import (number) 7Getting credit (rank) 84 Time to import (days) 38Dealing with construction permits (rank) 121 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,073Procedures (number) 20 Depth of credit information index (0-6) 5Time (days) 211 Public registry coverage (% of adults) 6.8 Enforcing contracts (rank) 118Cost (% of income per capita) 217.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 37Time (days) 721Employing workers (rank) 58 Protecting investors (rank) 88 Cost (% of claim) 30.8Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 9Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 1 Closing a business (rank) 121Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 5 Time (years) 4.0Rigidity of employment index (0-100) 25 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 22Firing cost (weeks of salary) 17 Recovery rate (cents on the dollar) 19.0Paying taxes (rank) 45Payments (number per year) 19Time (hours per year) 180Total tax rate (% of profit) 36.0LESOTHO Sub-Saharan Africa GNI per capita (US$) 1,000Ease of doing business (rank) 123 Lower middle income Population (m) 2.0Starting a business (rank) 125 Registering property (rank) 135 Trading across borders (rank) 141Procedures (number) 7 Procedures (number) 6 Documents to export (number) 6Time (days) 40 Time (days) 101 Time to export (days) 44Cost (% of income per capita) 37.8 Cost (% of property value) 8.2 Cost to export (US$ per container) 1,549Minimum capital (% of income per capita) 14.5 Documents to import (number) 8Getting credit (rank) 84 Time to import (days) 49Dealing with construction permits (rank) 150 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,715Procedures (number) 15 Depth of credit information index (0-6) 0Time (days) 601 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 104Cost (% of income per capita) 817.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 41Time (days) 695Employing workers (rank) 63 Protecting investors (rank) 142 Cost (% of claim) 19.5Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 1 Closing a business (rank) 69Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 2.6Rigidity of employment index (0-100) 21 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 8Firing cost (weeks of salary) 44 Recovery rate (cents on the dollar) 33.9Paying taxes (rank) 54Payments (number per year) 21Time (hours per year) 324Total tax rate (% of profit) 18.0LIBERIA Sub-Saharan Africa GNI per capita (US$) 150Ease of doing business (rank) 157 Low income Population (m) 3.8Starting a business (rank) 88 Registering property (rank) 172 Trading across borders (rank) 115Procedures (number) 8 Procedures (number) 13 Documents to export (number) 10Time (days) 27 Time (days) 50 Time to export (days) 20Cost (% of income per capita) 100.2 Cost (% of property value) 14.7 Cost to export (US$ per container) 1,232Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 131 Time to import (days) 17Dealing with construction permits (rank) 177 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,212Procedures (number) 25 Depth of credit information index (0-6) 1Time (days) 321 Public registry coverage (% of adults) 0.3 Enforcing contracts (rank) 165Cost (% of income per capita) 60,988.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 41Time (days) 1,280Employing workers (rank) 105 Protecting investors (rank) 142 Cost (% of claim) 35.0Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 1 Closing a business (rank) 146Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 6 Time (years) 3.0Rigidity of employment index (0-100) 31 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 43Firing cost (weeks of salary) 84 Recovery rate (cents on the dollar) 8.3Paying taxes (rank) 59Payments (number per year) 32Time (hours per year) 158Total tax rate (% of profit) 35.8(c) The International Bank for Reconstruction and Development / The World Bank

country tables 117LITHUANIA Eastern Europe & Central Asia GNI per capita (US$) 9,920Ease of doing business (rank) 28 Upper middle income Population (m) 3.4Starting a business (rank) 74 Registering property (rank) 4 Trading across borders (rank) 26Procedures (number) 7 Procedures (number) 2 Documents to export (number) 6Time (days) 26 Time (days) 3 Time to export (days) 10Cost (% of income per capita) 2.7 Cost (% of property value) 0.5 Cost to export (US$ per container) 870Minimum capital (% of income per capita) 35.9 Documents to import (number) 6Getting credit (rank) 43 Time to import (days) 13Dealing with construction permits (rank) 63 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 980Procedures (number) 17 Depth of credit information index (0-6) 6Time (days) 162 Public registry coverage (% of adults) 8.9 Enforcing contracts (rank) 16Cost (% of income per capita) 109.9 Private bureau coverage (% of adults) 7.2 Procedures (number) 30Time (days) 210Employing workers (rank) 131 Protecting investors (rank) 88 Cost (% of claim) 23.6Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 80 Extent of director liability index (0-10) 4 Closing a business (rank) 34Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 6 Time (years) 1.7Rigidity of employment index (0-100) 48 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 7Firing cost (weeks of salary) 30 Recovery rate (cents on the dollar) 48.0Paying taxes (rank) 57Payments (number per year) 15Time (hours per year) 166Total tax rate (% of profit) 46.4LUXEMBOURG OECD: High Income GNI per capita (US$) 75,880Ease of doing business (rank) 50 High income Population (m) 0.5Starting a business (rank) 69 Registering property (rank) 118 Trading across borders (rank) 31Procedures (number) 6 Procedures (number) 8 Documents to export (number) 5Time (days) 26 Time (days) 29 Time to export (days) 6Cost (% of income per capita) 6.5 Cost (% of property value) 10.3 Cost to export (US$ per container) 1,420Minimum capital (% of income per capita) 21.3 Documents to import (number) 4Getting credit (rank) 109 Time to import (days) 6Dealing with construction permits (rank) 40 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,420Procedures (number) 13 Depth of credit information index (0-6) 0Time (days) 217 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 2Cost (% of income per capita) 20.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 26Time (days) 321Employing workers (rank) 167 Protecting investors (rank) 113 Cost (% of claim) 8.8Difficulty of hiring index (0-100) 67 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 80 Extent of director liability index (0-10) 4 Closing a business (rank) 48Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 3 Time (years) 2.0Rigidity of employment index (0-100) 62 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 15Firing cost (weeks of salary) 39 Recovery rate (cents on the dollar) 41.7Paying taxes (rank) 14Payments (number per year) 22Time (hours per year) 59Total tax rate (% of profit) 21.0MACEDONIA, FORMER YUGOSLAV REPUBLIC OF Eastern Europe & Central Asia GNI per capita (US$) 3,460Ease of doing business (rank) 71 Lower middle income Population (m) 2.0Starting a business (rank) 12 Registering property (rank) 88 Trading across borders (rank) 64Procedures (number) 7 Procedures (number) 6 Documents to export (number) 6Time (days) 9 Time (days) 66 Time to export (days) 17Cost (% of income per capita) 3.8 Cost (% of property value) 3.4 Cost to export (US$ per container) 1,315Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 43 Time to import (days) 15Dealing with construction permits (rank) 152 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,325Procedures (number) 21 Depth of credit information index (0-6) 4Time (days) 198 Public registry coverage (% of adults) 6.5 Enforcing contracts (rank) 70Cost (% of income per capita) 1,862.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 38Time (days) 385Employing workers (rank) 125 Protecting investors (rank) 88 Cost (% of claim) 33.1Difficulty of hiring index (0-100) 50 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 6 Closing a business (rank) 129Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 4 Time (years) 3.7Rigidity of employment index (0-100) 47 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 28Firing cost (weeks of salary) 26 Recovery rate (cents on the dollar) 16.7Paying taxes (rank) 27Payments (number per year) 40Time (hours per year) 75Total tax rate (% of profit) 18.4(c) The International Bank for Reconstruction and Development / The World Bank

118 Doing Business 2009MADAGASCAR Sub-Saharan Africa GNI per capita (US$) 320Ease of doing business (rank) 144 Low income Population (m) 19.7Starting a business (rank) 58 Registering property (rank) 145 Trading across borders (rank) 109Procedures (number) 5 Procedures (number) 7 Documents to export (number) 4Time (days) 7 Time (days) 74 Time to export (days) 23Cost (% of income per capita) 11.0 Cost (% of property value) 7.5 Cost to export (US$ per container) 1,279Minimum capital (% of income per capita) 289.8 Documents to import (number) 9Getting credit (rank) 172 Time to import (days) 27Dealing with construction permits (rank) 102 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 1,660Procedures (number) 16 Depth of credit information index (0-6) 0Time (days) 178 Public registry coverage (% of adults) 0.1 Enforcing contracts (rank) 153Cost (% of income per capita) 764.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 38Time (days) 871Employing workers (rank) 153 Protecting investors (rank) 53 Cost (% of claim) 42.4Difficulty of hiring index (0-100) 89 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 6 Closing a business (rank) 181Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 6 Time (years) No practiceRigidity of employment index (0-100) 63 Strength of investor protection index (0-10) 5.7 Cost (% of estate) No practiceFiring cost (weeks of salary) 30 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 92Payments (number per year) 25Time (hours per year) 238Total tax rate (% of profit) 42.8MALAWI Sub-Saharan Africa GNI per capita (US$) 250Ease of doing business (rank) 134 Low income Population (m) 13.9Starting a business (rank) 122 Registering property (rank) 96 Trading across borders (rank) 167Procedures (number) 10 Procedures (number) 6 Documents to export (number) 12Time (days) 39 Time (days) 88 Time to export (days) 45Cost (% of income per capita) 125.9 Cost (% of property value) 3.3 Cost to export (US$ per container) 1,671Minimum capital (% of income per capita) 0.0 Documents to import (number) 10Getting credit (rank) 84 Time to import (days) 54Dealing with construction permits (rank) 156 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 2,550Procedures (number) 21 Depth of credit information index (0-6) 0Time (days) 213 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 138Cost (% of income per capita) 1,289.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 42Time (days) 432Employing workers (rank) 96 Protecting investors (rank) 70 Cost (% of claim) 142.4Difficulty of hiring index (0-100) 56 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 7 Closing a business (rank) 135Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 5 Time (years) 2.6Rigidity of employment index (0-100) 25 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 30Firing cost (weeks of salary) 84 Recovery rate (cents on the dollar) 15.1Paying taxes (rank) 58Payments (number per year) 19Time (hours per year) 292Total tax rate (% of profit) 31.4MALAYSIA East Asia & Pacific GNI per capita (US$) 6,540Ease of doing business (rank) 20 Upper middle income Population (m) 26.5Starting a business (rank) 75 Registering property (rank) 81 Trading across borders (rank) 29Procedures (number) 9 Procedures (number) 5 Documents to export (number) 7Time (days) 13 Time (days) 144 Time to export (days) 18Cost (% of income per capita) 14.7 Cost (% of property value) 2.5 Cost to export (US$ per container) 450Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 1 Time to import (days) 14Dealing with construction permits (rank) 104 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 450Procedures (number) 25 Depth of credit information index (0-6) 6Time (days) 261 Public registry coverage (% of adults) 52.9 Enforcing contracts (rank) 59Cost (% of income per capita) 7.9 Private bureau coverage (% of adults) .. Procedures (number) 30Time (days) 600Employing workers (rank) 48 Protecting investors (rank) 4 Cost (% of claim) 27.5Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 10Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 9 Closing a business (rank) 54Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 7 Time (years) 2.3Rigidity of employment index (0-100) 10 Strength of investor protection index (0-10) 8.7 Cost (% of estate) 15Firing cost (weeks of salary) 75 Recovery rate (cents on the dollar) 38.6Paying taxes (rank) 21Payments (number per year) 12Time (hours per year) 145Total tax rate (% of profit) 34.5(c) The International Bank for Reconstruction and Development / The World Bank

country tables 119MALDIVES South Asia GNI per capita (US$) 3,200Ease of doing business (rank) 69 Lower middle income Population (m) 0.3Starting a business (rank) 38 Registering property (rank) 177 Trading across borders (rank) 121Procedures (number) 5 Procedures (number) No practice Documents to export (number) 8Time (days) 9 Time (days) No practice Time to export (days) 21Cost (% of income per capita) 11.5 Cost (% of property value) No practice Cost to export (US$ per container) 1,348Minimum capital (% of income per capita) 4.8 Documents to import (number) 9Getting credit (rank) 145 Time to import (days) 20Dealing with construction permits (rank) 8 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,348Procedures (number) 9 Depth of credit information index (0-6) 0Time (days) 118 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 90Cost (% of income per capita) 26.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 41Time (days) 665Employing workers (rank) 4 Protecting investors (rank) 70 Cost (% of claim) 16.5Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 0Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 8 Closing a business (rank) 123Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 6.7Rigidity of employment index (0-100) 0 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 4Firing cost (weeks of salary) 9 Recovery rate (cents on the dollar) 18.2Paying taxes (rank) 1Payments (number per year) 1Time (hours per year) 0Total tax rate (% of profit) 9.1MALI Sub-Saharan Africa GNI per capita (US$) 500Ease of doing business (rank) 166 Low income Population (m) 12.3Starting a business (rank) 162 Registering property (rank) 94 Trading across borders (rank) 166Procedures (number) 11 Procedures (number) 5 Documents to export (number) 9Time (days) 26 Time (days) 29 Time to export (days) 38Cost (% of income per capita) 121.5 Cost (% of property value) 20.3 Cost to export (US$ per container) 2,012Minimum capital (% of income per capita) 390.4 Documents to import (number) 11Getting credit (rank) 145 Time to import (days) 42Dealing with construction permits (rank) 106 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,902Procedures (number) 14 Depth of credit information index (0-6) 1Time (days) 208 Public registry coverage (% of adults) 4.1 Enforcing contracts (rank) 158Cost (% of income per capita) 1,186.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 860Employing workers (rank) 94 Protecting investors (rank) 150 Cost (% of claim) 52.0Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 1 Closing a business (rank) 114Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 3 Time (years) 3.6Rigidity of employment index (0-100) 38 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 18Firing cost (weeks of salary) 31 Recovery rate (cents on the dollar) 20.9Paying taxes (rank) 156Payments (number per year) 58Time (hours per year) 270Total tax rate (% of profit) 51.4MARSHALL ISLANDS East Asia & Pacific GNI per capita (US$) 3,070Ease of doing business (rank) 93 Lower middle income Population (m) 0.1Starting a business (rank) 25 Registering property (rank) 177 Trading across borders (rank) 54Procedures (number) 5 Procedures (number) No practice Documents to export (number) 5Time (days) 17 Time (days) No practice Time to export (days) 21Cost (% of income per capita) 17.3 Cost (% of property value) No practice Cost to export (US$ per container) 875Minimum capital (% of income per capita) 0.0 Documents to import (number) 5Getting credit (rank) 145 Time to import (days) 33Dealing with construction permits (rank) 5 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 875Procedures (number) 10 Depth of credit information index (0-6) 0Time (days) 55 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 60Cost (% of income per capita) 35.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 36Time (days) 476Employing workers (rank) 1 Protecting investors (rank) 150 Cost (% of claim) 27.4Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 0 Closing a business (rank) 125Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 2.0Rigidity of employment index (0-100) 0 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 38Firing cost (weeks of salary) 0 Recovery rate (cents on the dollar) 17.9Paying taxes (rank) 88Payments (number per year) 21Time (hours per year) 128Total tax rate (% of profit) 64.9(c) The International Bank for Reconstruction and Development / The World Bank

120 Doing Business 2009MAURITANIA Sub-Saharan Africa GNI per capita (US$) 840Ease of doing business (rank) 160 Low income Population (m) 3.1Starting a business (rank) 143 Registering property (rank) 61 Trading across borders (rank) 158Procedures (number) 9 Procedures (number) 4 Documents to export (number) 11Time (days) 19 Time (days) 49 Time to export (days) 35Cost (% of income per capita) 33.9 Cost (% of property value) 5.2 Cost to export (US$ per container) 1,520Minimum capital (% of income per capita) 422.6 Documents to import (number) 11Getting credit (rank) 145 Time to import (days) 42Dealing with construction permits (rank) 142 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,523Procedures (number) 25 Depth of credit information index (0-6) 1Time (days) 201 Public registry coverage (% of adults) 0.2 Enforcing contracts (rank) 84Cost (% of income per capita) 475.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 46Time (days) 370Employing workers (rank) 123 Protecting investors (rank) 142 Cost (% of claim) 23.2Difficulty of hiring index (0-100) 56 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 3 Closing a business (rank) 148Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 3 Time (years) 8.0Rigidity of employment index (0-100) 45 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 9Firing cost (weeks of salary) 31 Recovery rate (cents on the dollar) 6.7Paying taxes (rank) 174Payments (number per year) 38Time (hours per year) 696Total tax rate (% of profit) 98.7MAURITIUS Sub-Saharan Africa GNI per capita (US$) 5,450Ease of doing business (rank) 24 Upper middle income Population (m) 1.3Starting a business (rank) 7 Registering property (rank) 127 Trading across borders (rank) 20Procedures (number) 5 Procedures (number) 4 Documents to export (number) 5Time (days) 6 Time (days) 210 Time to export (days) 17Cost (% of income per capita) 5.0 Cost (% of property value) 10.8 Cost to export (US$ per container) 725Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 84 Time to import (days) 16Dealing with construction permits (rank) 36 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 677Procedures (number) 18 Depth of credit information index (0-6) 3Time (days) 107 Public registry coverage (% of adults) 20.6 Enforcing contracts (rank) 76Cost (% of income per capita) 41.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 37Time (days) 750Employing workers (rank) 64 Protecting investors (rank) 11 Cost (% of claim) 17.4Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 8 Closing a business (rank) 70Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 9 Time (years) 1.7Rigidity of employment index (0-100) 23 Strength of investor protection index (0-10) 7.7 Cost (% of estate) 15Firing cost (weeks of salary) 35 Recovery rate (cents on the dollar) 33.6Paying taxes (rank) 11Payments (number per year) 7Time (hours per year) 161Total tax rate (% of profit) 22.2MEXICO Latin America & Caribbean GNI per capita (US$) 8,340Ease of doing business (rank) 56 Upper middle income Population (m) 105.3Starting a business (rank) 115 Registering property (rank) 88 Trading across borders (rank) 87Procedures (number) 9 Procedures (number) 5 Documents to export (number) 5Time (days) 28 Time (days) 74 Time to export (days) 17Cost (% of income per capita) 12.5 Cost (% of property value) 4.8 Cost to export (US$ per container) 1,472Minimum capital (% of income per capita) 11.0 Documents to import (number) 5Getting credit (rank) 59 Time to import (days) 23Dealing with construction permits (rank) 33 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 2,700Procedures (number) 12 Depth of credit information index (0-6) 6Time (days) 138 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 79Cost (% of income per capita) 131.0 Private bureau coverage (% of adults) 70.8 Procedures (number) 38Time (days) 415Employing workers (rank) 141 Protecting investors (rank) 38 Cost (% of claim) 32.0Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 23Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 5 Time (years) 1.8Rigidity of employment index (0-100) 48 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 18Firing cost (weeks of salary) 52 Recovery rate (cents on the dollar) 64.2Paying taxes (rank) 149Payments (number per year) 27Time (hours per year) 549Total tax rate (% of profit) 51.5(c) The International Bank for Reconstruction and Development / The World Bank

country tables 121MICRONESIA East Asia & Pacific GNI per capita (US$) 2,470Ease of doing business (rank) 126 Lower middle income Population (m) 0.1Starting a business (rank) 60 Registering property (rank) 177 Trading across borders (rank) 95Procedures (number) 7 Procedures (number) No practice Documents to export (number) 3Time (days) 16 Time (days) No practice Time to export (days) 30Cost (% of income per capita) 137.5 Cost (% of property value) No practice Cost to export (US$ per container) 1,255Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 109 Time to import (days) 30Dealing with construction permits (rank) 11 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,255Procedures (number) 14 Depth of credit information index (0-6) 0Time (days) 73 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 143Cost (% of income per capita) 19.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 34Time (days) 965Employing workers (rank) 12 Protecting investors (rank) 170 Cost (% of claim) 66.0Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 0Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 0 Closing a business (rank) 152Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 5.3Rigidity of employment index (0-100) 7 Strength of investor protection index (0-10) 2.7 Cost (% of estate) 38Firing cost (weeks of salary) 0 Recovery rate (cents on the dollar) 3.5Paying taxes (rank) 81Payments (number per year) 21Time (hours per year) 128Total tax rate (% of profit) 58.7MOLDOVA Eastern Europe & Central Asia GNI per capita (US$) 1,260Ease of doing business (rank) 103 Lower middle income Population (m) 3.8Starting a business (rank) 89 Registering property (rank) 50 Trading across borders (rank) 135Procedures (number) 9 Procedures (number) 6 Documents to export (number) 6Time (days) 15 Time (days) 48 Time to export (days) 32Cost (% of income per capita) 8.9 Cost (% of property value) 0.8 Cost to export (US$ per container) 1,775Minimum capital (% of income per capita) 13.4 Documents to import (number) 7Getting credit (rank) 84 Time to import (days) 35Dealing with construction permits (rank) 158 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,895Procedures (number) 30 Depth of credit information index (0-6) 0Time (days) 292 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 17Cost (% of income per capita) 142.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 31Time (days) 365Employing workers (rank) 119 Protecting investors (rank) 104 Cost (% of claim) 16.6Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 1 Closing a business (rank) 88Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 6 Time (years) 2.8Rigidity of employment index (0-100) 41 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 9Firing cost (weeks of salary) 37 Recovery rate (cents on the dollar) 28.6Paying taxes (rank) 123Payments (number per year) 53Time (hours per year) 234Total tax rate (% of profit) 42.1MONGOLIA East Asia & Pacific GNI per capita (US$) 1,290Ease of doing business (rank) 58 Lower middle income Population (m) 2.6Starting a business (rank) 59 Registering property (rank) 20 Trading across borders (rank) 156Procedures (number) 7 Procedures (number) 5 Documents to export (number) 8Time (days) 13 Time (days) 11 Time to export (days) 49Cost (% of income per capita) 4.0 Cost (% of property value) 2.1 Cost to export (US$ per container) 2,131Minimum capital (% of income per capita) 58.5 Documents to import (number) 8Getting credit (rank) 68 Time to import (days) 49Dealing with construction permits (rank) 103 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 2,274Procedures (number) 21 Depth of credit information index (0-6) 3Time (days) 215 Public registry coverage (% of adults) 22.7 Enforcing contracts (rank) 38Cost (% of income per capita) 81.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 32Time (days) 314Employing workers (rank) 71 Protecting investors (rank) 24 Cost (% of claim) 30.6Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 80 Extent of director liability index (0-10) 8 Closing a business (rank) 108Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 6 Time (years) 4.0Rigidity of employment index (0-100) 34 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 8Firing cost (weeks of salary) 9 Recovery rate (cents on the dollar) 22.1Paying taxes (rank) 79Payments (number per year) 42Time (hours per year) 204Total tax rate (% of profit) 30.3(c) The International Bank for Reconstruction and Development / The World Bank

122 Doing Business 2009MONTENEGRO Eastern Europe & Central Asia GNI per capita (US$) 5,180Ease of doing business (rank) 90 Upper middle income Population (m) 0.6Starting a business (rank) 105 Registering property (rank) 123 Trading across borders (rank) 125Procedures (number) 15 Procedures (number) 8 Documents to export (number) 9Time (days) 21 Time (days) 86 Time to export (days) 18Cost (% of income per capita) 4.4 Cost (% of property value) 3.3 Cost to export (US$ per container) 1,710Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 43 Time to import (days) 19Dealing with construction permits (rank) 167 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,910Procedures (number) 20 Depth of credit information index (0-6) 2Time (days) 248 Public registry coverage (% of adults) 26.3 Enforcing contracts (rank) 130Cost (% of income per capita) 1,323.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 49Time (days) 545Employing workers (rank) 104 Protecting investors (rank) 24 Cost (% of claim) 25.7Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 8 Closing a business (rank) 42Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 6 Time (years) 2.0Rigidity of employment index (0-100) 38 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 8Firing cost (weeks of salary) 39 Recovery rate (cents on the dollar) 43.7Paying taxes (rank) 139Payments (number per year) 89Time (hours per year) 372Total tax rate (% of profit) 31.8MOROCCO Middle East & North Africa GNI per capita (US$) 2,250Ease of doing business (rank) 128 Lower middle income Population (m) 30.9Starting a business (rank) 62 Registering property (rank) 117 Trading across borders (rank) 64Procedures (number) 6 Procedures (number) 8 Documents to export (number) 7Time (days) 12 Time (days) 47 Time to export (days) 14Cost (% of income per capita) 10.2 Cost (% of property value) 4.9 Cost to export (US$ per container) 700Minimum capital (% of income per capita) 52.3 Documents to import (number) 10Getting credit (rank) 131 Time to import (days) 18Dealing with construction permits (rank) 90 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,000Procedures (number) 19 Depth of credit information index (0-6) 2Time (days) 163 Public registry coverage (% of adults) 2.4 Enforcing contracts (rank) 112Cost (% of income per capita) 292.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 40Time (days) 615Employing workers (rank) 168 Protecting investors (rank) 164 Cost (% of claim) 25.2Difficulty of hiring index (0-100) 100 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 2 Closing a business (rank) 64Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 1 Time (years) 1.8Rigidity of employment index (0-100) 63 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 18Firing cost (weeks of salary) 85 Recovery rate (cents on the dollar) 35.1Paying taxes (rank) 119Payments (number per year) 28Time (hours per year) 358Total tax rate (% of profit) 44.6MOZAMBIQUE Sub-Saharan Africa GNI per capita (US$) 320Ease of doing business (rank) 141 Low income Population (m) 21.4Starting a business (rank) 144 Registering property (rank) 149 Trading across borders (rank) 140Procedures (number) 10 Procedures (number) 8 Documents to export (number) 8Time (days) 26 Time (days) 42 Time to export (days) 26Cost (% of income per capita) 22.9 Cost (% of property value) 12.9 Cost to export (US$ per container) 1,200Minimum capital (% of income per capita) 122.5 Documents to import (number) 10Getting credit (rank) 123 Time to import (days) 32Dealing with construction permits (rank) 153 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 1,475Procedures (number) 17 Depth of credit information index (0-6) 4Time (days) 381 Public registry coverage (% of adults) 1.9 Enforcing contracts (rank) 124Cost (% of income per capita) 747.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 30Time (days) 730Employing workers (rank) 161 Protecting investors (rank) 38 Cost (% of claim) 142.5Difficulty of hiring index (0-100) 67 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 4 Closing a business (rank) 133Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 9 Time (years) 5.0Rigidity of employment index (0-100) 49 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 9Firing cost (weeks of salary) 134 Recovery rate (cents on the dollar) 15.2Paying taxes (rank) 88Payments (number per year) 37Time (hours per year) 230Total tax rate (% of profit) 34.3(c) The International Bank for Reconstruction and Development / The World Bank

country tables 123NAMIBIA Sub-Saharan Africa GNI per capita (US$) 3,360Ease of doing business (rank) 51 Lower middle income Population (m) 2.1Starting a business (rank) 112 Registering property (rank) 129 Trading across borders (rank) 150Procedures (number) 10 Procedures (number) 9 Documents to export (number) 11Time (days) 66 Time (days) 23 Time to export (days) 29Cost (% of income per capita) 22.1 Cost (% of property value) 9.9 Cost to export (US$ per container) 1,686Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 12 Time to import (days) 24Dealing with construction permits (rank) 38 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,813Procedures (number) 12 Depth of credit information index (0-6) 5Time (days) 139 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 36Cost (% of income per capita) 181.8 Private bureau coverage (% of adults) 59.6 Procedures (number) 33Time (days) 270Employing workers (rank) 34 Protecting investors (rank) 70 Cost (% of claim) 29.9Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 52Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 6 Time (years) 1.5Rigidity of employment index (0-100) 20 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 15Firing cost (weeks of salary) 24 Recovery rate (cents on the dollar) 39.5Paying taxes (rank) 96Payments (number per year) 37Time (hours per year) 375Total tax rate (% of profit) 25.3NEPAL South Asia GNI per capita (US$) 340Ease of doing business (rank) 121 Low income Population (m) 28.1Starting a business (rank) 73 Registering property (rank) 28 Trading across borders (rank) 157Procedures (number) 7 Procedures (number) 3 Documents to export (number) 9Time (days) 31 Time (days) 5 Time to export (days) 41Cost (% of income per capita) 60.2 Cost (% of property value) 6.3 Cost to export (US$ per container) 1,764Minimum capital (% of income per capita) 0.0 Documents to import (number) 10Getting credit (rank) 109 Time to import (days) 35Dealing with construction permits (rank) 129 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,900Procedures (number) 15 Depth of credit information index (0-6) 2Time (days) 424 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 121Cost (% of income per capita) 248.4 Private bureau coverage (% of adults) 0.2 Procedures (number) 39Time (days) 735Employing workers (rank) 150 Protecting investors (rank) 70 Cost (% of claim) 26.8Difficulty of hiring index (0-100) 56 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 1 Closing a business (rank) 103Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 9 Time (years) 5.0Rigidity of employment index (0-100) 42 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 9Firing cost (weeks of salary) 90 Recovery rate (cents on the dollar) 24.5Paying taxes (rank) 107Payments (number per year) 34Time (hours per year) 408Total tax rate (% of profit) 34.1NETHERLANDS OECD: High Income GNI per capita (US$) 45,820Ease of doing business (rank) 26 High income Population (m) 16.4Starting a business (rank) 51 Registering property (rank) 23 Trading across borders (rank) 13Procedures (number) 6 Procedures (number) 2 Documents to export (number) 4Time (days) 10 Time (days) 5 Time to export (days) 6Cost (% of income per capita) 5.9 Cost (% of property value) 6.1 Cost to export (US$ per container) 895Minimum capital (% of income per capita) 51.7 Documents to import (number) 5Getting credit (rank) 43 Time to import (days) 6Dealing with construction permits (rank) 94 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,020Procedures (number) 18 Depth of credit information index (0-6) 5Time (days) 230 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 34Cost (% of income per capita) 112.1 Private bureau coverage (% of adults) 81.0 Procedures (number) 25Time (days) 514Employing workers (rank) 98 Protecting investors (rank) 104 Cost (% of claim) 24.4Difficulty of hiring index (0-100) 17 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 4 Closing a business (rank) 10Difficulty of firing index (0-100) 70 Ease of shareholder suits index (0-10) 6 Time (years) 1.1Rigidity of employment index (0-100) 42 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 4Firing cost (weeks of salary) 17 Recovery rate (cents on the dollar) 82.7Paying taxes (rank) 30Payments (number per year) 9Time (hours per year) 180Total tax rate (% of profit) 39.1(c) The International Bank for Reconstruction and Development / The World Bank

124 Doing Business 2009NEW ZEALAND OECD: High Income GNI per capita (US$) 28,780Ease of doing business (rank) 2 High income Population (m) 4.2Starting a business (rank) 1 Registering property (rank) 3 Trading across borders (rank) 23Procedures (number) 1 Procedures (number) 2 Documents to export (number) 7Time (days) 1 Time (days) 2 Time to export (days) 10Cost (% of income per capita) 0.4 Cost (% of property value) 0.1 Cost to export (US$ per container) 868Minimum capital (% of income per capita) 0.0 Documents to import (number) 5Getting credit (rank) 5 Time to import (days) 9Dealing with construction permits (rank) 2 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 850Procedures (number) 7 Depth of credit information index (0-6) 5Time (days) 65 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 11Cost (% of income per capita) 25.8 Private bureau coverage (% of adults) 100.0 Procedures (number) 30Time (days) 216Employing workers (rank) 14 Protecting investors (rank) 1 Cost (% of claim) 22.0Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 10Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 9 Closing a business (rank) 17Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 10 Time (years) 1.3Rigidity of employment index (0-100) 7 Strength of investor protection index (0-10) 9.7 Cost (% of estate) 4Firing cost (weeks of salary) 0 Recovery rate (cents on the dollar) 76.2Paying taxes (rank) 12Payments (number per year) 8Time (hours per year) 70Total tax rate (% of profit) 35.6NICARAGUA Latin America & Caribbean GNI per capita (US$) 980Ease of doing business (rank) 107 Lower middle income Population (m) 5.6Starting a business (rank) 85 Registering property (rank) 136 Trading across borders (rank) 99Procedures (number) 6 Procedures (number) 8 Documents to export (number) 5Time (days) 39 Time (days) 124 Time to export (days) 29Cost (% of income per capita) 121.0 Cost (% of property value) 3.5 Cost to export (US$ per container) 1,300Minimum capital (% of income per capita) 0.0 Documents to import (number) 5Getting credit (rank) 84 Time to import (days) 29Dealing with construction permits (rank) 134 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,420Procedures (number) 17 Depth of credit information index (0-6) 5Time (days) 219 Public registry coverage (% of adults) 13.4 Enforcing contracts (rank) 66Cost (% of income per capita) 866.0 Private bureau coverage (% of adults) 100.0 Procedures (number) 35Time (days) 540Employing workers (rank) 66 Protecting investors (rank) 88 Cost (% of claim) 26.8Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 5 Closing a business (rank) 67Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 6 Time (years) 2.2Rigidity of employment index (0-100) 27 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 15Firing cost (weeks of salary) 24 Recovery rate (cents on the dollar) 34.3Paying taxes (rank) 162Payments (number per year) 64Time (hours per year) 240Total tax rate (% of profit) 63.2NIGER Sub-Saharan Africa GNI per capita (US$) 280Ease of doing business (rank) 172 Low income Population (m) 14.2Starting a business (rank) 159 Registering property (rank) 75 Trading across borders (rank) 169Procedures (number) 11 Procedures (number) 4 Documents to export (number) 8Time (days) 19 Time (days) 35 Time to export (days) 59Cost (% of income per capita) 170.1 Cost (% of property value) 11.1 Cost to export (US$ per container) 3,545Minimum capital (% of income per capita) 702.1 Documents to import (number) 10Getting credit (rank) 145 Time to import (days) 64Dealing with construction permits (rank) 157 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 3,545Procedures (number) 17 Depth of credit information index (0-6) 1Time (days) 265 Public registry coverage (% of adults) 0.9 Enforcing contracts (rank) 134Cost (% of income per capita) 2,694.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 545Employing workers (rank) 166 Protecting investors (rank) 150 Cost (% of claim) 59.6Difficulty of hiring index (0-100) 100 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 138Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 3 Time (years) 5.0Rigidity of employment index (0-100) 70 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 18Firing cost (weeks of salary) 35 Recovery rate (cents on the dollar) 14.0Paying taxes (rank) 120Payments (number per year) 42Time (hours per year) 270Total tax rate (% of profit) 42.3(c) The International Bank for Reconstruction and Development / The World Bank

country tables 125NIGERIA Sub-Saharan Africa GNI per capita (US$) 930Ease of doing business (rank) 118 Low income Population (m) 148.0Starting a business (rank) 91 Registering property (rank) 176 Trading across borders (rank) 144Procedures (number) 8 Procedures (number) 14 Documents to export (number) 10Time (days) 31 Time (days) 82 Time to export (days) 25Cost (% of income per capita) 90.1 Cost (% of property value) 21.9 Cost to export (US$ per container) 1,179Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 84 Time to import (days) 42Dealing with construction permits (rank) 151 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,306Procedures (number) 18 Depth of credit information index (0-6) 0Time (days) 350 Public registry coverage (% of adults) 0.1 Enforcing contracts (rank) 90Cost (% of income per capita) 655.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 457Employing workers (rank) 27 Protecting investors (rank) 53 Cost (% of claim) 32.0Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 7 Closing a business (rank) 91Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 5 Time (years) 2.0Rigidity of employment index (0-100) 7 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 22Firing cost (weeks of salary) 50 Recovery rate (cents on the dollar) 28.0Paying taxes (rank) 120Payments (number per year) 35Time (hours per year) 938Total tax rate (% of profit) 32.2NORWAY OECD: High Income GNI per capita (US$) 76,450Ease of doing business (rank) 10 High income Population (m) 4.7Starting a business (rank) 33 Registering property (rank) 8 Trading across borders (rank) 7Procedures (number) 6 Procedures (number) 1 Documents to export (number) 4Time (days) 10 Time (days) 3 Time to export (days) 7Cost (% of income per capita) 2.1 Cost (% of property value) 2.5 Cost to export (US$ per container) 780Minimum capital (% of income per capita) 21.0 Documents to import (number) 4Getting credit (rank) 43 Time to import (days) 7Dealing with construction permits (rank) 66 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 709Procedures (number) 14 Depth of credit information index (0-6) 4Time (days) 252 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 7Cost (% of income per capita) 46.6 Private bureau coverage (% of adults) 100.0 Procedures (number) 33Time (days) 310Employing workers (rank) 99 Protecting investors (rank) 18 Cost (% of claim) 9.9Difficulty of hiring index (0-100) 61 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 6 Closing a business (rank) 3Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 7 Time (years) 0.9Rigidity of employment index (0-100) 47 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 1Firing cost (weeks of salary) 13 Recovery rate (cents on the dollar) 89.0Paying taxes (rank) 18Payments (number per year) 4Time (hours per year) 87Total tax rate (% of profit) 41.6OMAN Middle East & North Africa GNI per capita (US$) 11,120Ease of doing business (rank) 57 High income Population (m) 2.6Starting a business (rank) 76 Registering property (rank) 19 Trading across borders (rank) 119Procedures (number) 7 Procedures (number) 2 Documents to export (number) 10Time (days) 14 Time (days) 16 Time to export (days) 22Cost (% of income per capita) 3.6 Cost (% of property value) 3.0 Cost to export (US$ per container) 821Minimum capital (% of income per capita) 461.2 Documents to import (number) 10Getting credit (rank) 123 Time to import (days) 26Dealing with construction permits (rank) 133 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,037Procedures (number) 16 Depth of credit information index (0-6) 2Time (days) 242 Public registry coverage (% of adults) 23.4 Enforcing contracts (rank) 105Cost (% of income per capita) 721.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 51Time (days) 598Employing workers (rank) 24 Protecting investors (rank) 88 Cost (% of claim) 13.5Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 63Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 2 Time (years) 4.0Rigidity of employment index (0-100) 24 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 4Firing cost (weeks of salary) 4 Recovery rate (cents on the dollar) 35.1Paying taxes (rank) 8Payments (number per year) 14Time (hours per year) 62Total tax rate (% of profit) 21.6(c) The International Bank for Reconstruction and Development / The World Bank

126 Doing Business 2009PAKISTAN South Asia GNI per capita (US$) 870Ease of doing business (rank) 77 Low income Population (m) 162.4Starting a business (rank) 77 Registering property (rank) 97 Trading across borders (rank) 71Procedures (number) 11 Procedures (number) 6 Documents to export (number) 9Time (days) 24 Time (days) 50 Time to export (days) 24Cost (% of income per capita) 12.6 Cost (% of property value) 5.3 Cost to export (US$ per container) 611Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 59 Time to import (days) 18Dealing with construction permits (rank) 93 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 680Procedures (number) 12 Depth of credit information index (0-6) 4Time (days) 223 Public registry coverage (% of adults) 4.9 Enforcing contracts (rank) 154Cost (% of income per capita) 734.0 Private bureau coverage (% of adults) 1.5 Procedures (number) 47Time (days) 976Employing workers (rank) 136 Protecting investors (rank) 24 Cost (% of claim) 23.8Difficulty of hiring index (0-100) 78 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 6 Closing a business (rank) 53Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 7 Time (years) 2.8Rigidity of employment index (0-100) 43 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 4Firing cost (weeks of salary) 90 Recovery rate (cents on the dollar) 39.2Paying taxes (rank) 124Payments (number per year) 47Time (hours per year) 560Total tax rate (% of profit) 28.9PALAU East Asia & Pacific GNI per capita (US$) 8,210Ease of doing business (rank) 91 Upper middle income Population (m) 0.0Starting a business (rank) 83 Registering property (rank) 17 Trading across borders (rank) 120Procedures (number) 8 Procedures (number) 5 Documents to export (number) 6Time (days) 28 Time (days) 14 Time to export (days) 29Cost (% of income per capita) 4.6 Cost (% of property value) 0.4 Cost to export (US$ per container) 1,170Minimum capital (% of income per capita) 12.2 Documents to import (number) 10Getting credit (rank) 181 Time to import (days) 33Dealing with construction permits (rank) 52 Strength of legal rights index (0-10) 0 Cost to import (US$ per container) 1,132Procedures (number) 25 Depth of credit information index (0-6) 0Time (days) 118 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 141Cost (% of income per capita) 5.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 38Time (days) 885Employing workers (rank) 9 Protecting investors (rank) 170 Cost (% of claim) 35.3Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 0Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 0 Closing a business (rank) 56Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 1.0Rigidity of employment index (0-100) 4 Strength of investor protection index (0-10) 2.7 Cost (% of estate) 23Firing cost (weeks of salary) 0 Recovery rate (cents on the dollar) 38.2Paying taxes (rank) 86Payments (number per year) 19Time (hours per year) 128Total tax rate (% of profit) 73.0PANAMA Latin America & Caribbean GNI per capita (US$) 5,510Ease of doing business (rank) 81 Upper middle income Population (m) 3.3Starting a business (rank) 32 Registering property (rank) 75 Trading across borders (rank) 8Procedures (number) 7 Procedures (number) 7 Documents to export (number) 3Time (days) 13 Time (days) 44 Time to export (days) 9Cost (% of income per capita) 19.6 Cost (% of property value) 2.4 Cost to export (US$ per container) 729Minimum capital (% of income per capita) 0.0 Documents to import (number) 4Getting credit (rank) 28 Time to import (days) 9Dealing with construction permits (rank) 73 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 879Procedures (number) 21 Depth of credit information index (0-6) 6Time (days) 131 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 116Cost (% of income per capita) 123.3 Private bureau coverage (% of adults) 43.7 Procedures (number) 31Time (days) 686Employing workers (rank) 172 Protecting investors (rank) 104 Cost (% of claim) 50.0Difficulty of hiring index (0-100) 78 Extent of disclosure index (0-10) 1Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 4 Closing a business (rank) 72Difficulty of firing index (0-100) 60 Ease of shareholder suits index (0-10) 9 Time (years) 2.5Rigidity of employment index (0-100) 66 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 18Firing cost (weeks of salary) 44 Recovery rate (cents on the dollar) 32.4Paying taxes (rank) 172Payments (number per year) 59Time (hours per year) 482Total tax rate (% of profit) 50.6(c) The International Bank for Reconstruction and Development / The World Bank

country tables 127PAPUA NEW GUINEA East Asia & Pacific GNI per capita (US$) 850Ease of doing business (rank) 95 Low income Population (m) 6.3Starting a business (rank) 92 Registering property (rank) 73 Trading across borders (rank) 89Procedures (number) 8 Procedures (number) 4 Documents to export (number) 7Time (days) 56 Time (days) 72 Time to export (days) 26Cost (% of income per capita) 23.6 Cost (% of property value) 5.1 Cost to export (US$ per container) 664Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 131 Time to import (days) 29Dealing with construction permits (rank) 124 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 722Procedures (number) 24 Depth of credit information index (0-6) 0Time (days) 217 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 162Cost (% of income per capita) 95.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 43Time (days) 591Employing workers (rank) 31 Protecting investors (rank) 38 Cost (% of claim) 110.3Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 5 Closing a business (rank) 102Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 3.0Rigidity of employment index (0-100) 10 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 23Firing cost (weeks of salary) 39 Recovery rate (cents on the dollar) 24.7Paying taxes (rank) 87Payments (number per year) 33Time (hours per year) 194Total tax rate (% of profit) 41.7PARAGUAY Latin America & Caribbean GNI per capita (US$) 1,670Ease of doing business (rank) 115 Lower middle income Population (m) 6.1Starting a business (rank) 82 Registering property (rank) 70 Trading across borders (rank) 138Procedures (number) 7 Procedures (number) 6 Documents to export (number) 9Time (days) 35 Time (days) 46 Time to export (days) 35Cost (% of income per capita) 67.9 Cost (% of property value) 3.5 Cost to export (US$ per container) 915Minimum capital (% of income per capita) 0.0 Documents to import (number) 10Getting credit (rank) 68 Time to import (days) 33Dealing with construction permits (rank) 96 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,200Procedures (number) 13 Depth of credit information index (0-6) 6Time (days) 291 Public registry coverage (% of adults) 9.7 Enforcing contracts (rank) 103Cost (% of income per capita) 342.2 Private bureau coverage (% of adults) 48.6 Procedures (number) 38Time (days) 591Employing workers (rank) 177 Protecting investors (rank) 53 Cost (% of claim) 30.0Difficulty of hiring index (0-100) 56 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 5 Closing a business (rank) 116Difficulty of firing index (0-100) 60 Ease of shareholder suits index (0-10) 6 Time (years) 3.9Rigidity of employment index (0-100) 59 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 9Firing cost (weeks of salary) 113 Recovery rate (cents on the dollar) 20.7Paying taxes (rank) 102Payments (number per year) 35Time (hours per year) 328Total tax rate (% of profit) 35.0PERU Latin America & Caribbean GNI per capita (US$) 3,450Ease of doing business (rank) 62 Lower middle income Population (m) 27.9Starting a business (rank) 116 Registering property (rank) 41 Trading across borders (rank) 93Procedures (number) 10 Procedures (number) 5 Documents to export (number) 7Time (days) 65 Time (days) 33 Time to export (days) 24Cost (% of income per capita) 25.7 Cost (% of property value) 3.3 Cost to export (US$ per container) 875Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 12 Time to import (days) 25Dealing with construction permits (rank) 115 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 895Procedures (number) 21 Depth of credit information index (0-6) 6Time (days) 210 Public registry coverage (% of adults) 23.7 Enforcing contracts (rank) 119Cost (% of income per capita) 139.7 Private bureau coverage (% of adults) 33.2 Procedures (number) 41Time (days) 468Employing workers (rank) 149 Protecting investors (rank) 18 Cost (% of claim) 35.7Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 96Difficulty of firing index (0-100) 60 Ease of shareholder suits index (0-10) 7 Time (years) 3.1Rigidity of employment index (0-100) 48 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 7Firing cost (weeks of salary) 52 Recovery rate (cents on the dollar) 25.4Paying taxes (rank) 85Payments (number per year) 9Time (hours per year) 424Total tax rate (% of profit) 41.2(c) The International Bank for Reconstruction and Development / The World Bank

128 Doing Business 2009PHILIPPINES East Asia & Pacific GNI per capita (US$) 1,620Ease of doing business (rank) 140 Lower middle income Population (m) 87.9Starting a business (rank) 155 Registering property (rank) 97 Trading across borders (rank) 58Procedures (number) 15 Procedures (number) 8 Documents to export (number) 8Time (days) 52 Time (days) 33 Time to export (days) 16Cost (% of income per capita) 29.8 Cost (% of property value) 4.3 Cost to export (US$ per container) 816Minimum capital (% of income per capita) 6.0 Documents to import (number) 8Getting credit (rank) 123 Time to import (days) 16Dealing with construction permits (rank) 105 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 819Procedures (number) 24 Depth of credit information index (0-6) 3Time (days) 203 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 114Cost (% of income per capita) 90.1 Private bureau coverage (% of adults) 5.4 Procedures (number) 37Time (days) 842Employing workers (rank) 126 Protecting investors (rank) 126 Cost (% of claim) 26.0Difficulty of hiring index (0-100) 56 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 2 Closing a business (rank) 151Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 8 Time (years) 5.7Rigidity of employment index (0-100) 35 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 38Firing cost (weeks of salary) 91 Recovery rate (cents on the dollar) 4.4Paying taxes (rank) 129Payments (number per year) 47Time (hours per year) 195Total tax rate (% of profit) 50.8POLAND Eastern Europe & Central Asia GNI per capita (US$) 9,840Ease of doing business (rank) 76 Upper middle income Population (m) 38.1Starting a business (rank) 145 Registering property (rank) 84 Trading across borders (rank) 41Procedures (number) 10 Procedures (number) 6 Documents to export (number) 5Time (days) 31 Time (days) 197 Time to export (days) 17Cost (% of income per capita) 18.8 Cost (% of property value) 0.5 Cost to export (US$ per container) 884Minimum capital (% of income per capita) 168.8 Documents to import (number) 5Getting credit (rank) 28 Time to import (days) 27Dealing with construction permits (rank) 158 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 884Procedures (number) 30 Depth of credit information index (0-6) 4Time (days) 308 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 68Cost (% of income per capita) 137.0 Private bureau coverage (% of adults) 50.0 Procedures (number) 38Time (days) 830Employing workers (rank) 82 Protecting investors (rank) 38 Cost (% of claim) 12.0Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 2 Closing a business (rank) 82Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 9 Time (years) 3.0Rigidity of employment index (0-100) 37 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 20Firing cost (weeks of salary) 13 Recovery rate (cents on the dollar) 29.8Paying taxes (rank) 142Payments (number per year) 40Time (hours per year) 418Total tax rate (% of profit) 40.2PORTUGAL OECD: High Income GNI per capita (US$) 18,950Ease of doing business (rank) 48 High income Population (m) 10.6Starting a business (rank) 34 Registering property (rank) 79 Trading across borders (rank) 33Procedures (number) 6 Procedures (number) 5 Documents to export (number) 6Time (days) 6 Time (days) 42 Time to export (days) 16Cost (% of income per capita) 2.9 Cost (% of property value) 7.4 Cost to export (US$ per container) 685Minimum capital (% of income per capita) 34.3 Documents to import (number) 7Getting credit (rank) 109 Time to import (days) 16Dealing with construction permits (rank) 128 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 999Procedures (number) 21 Depth of credit information index (0-6) 4Time (days) 328 Public registry coverage (% of adults) 76.4 Enforcing contracts (rank) 34Cost (% of income per capita) 53.5 Private bureau coverage (% of adults) 11.3 Procedures (number) 34Time (days) 577Employing workers (rank) 164 Protecting investors (rank) 38 Cost (% of claim) 14.2Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 5 Closing a business (rank) 21Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 7 Time (years) 2.0Rigidity of employment index (0-100) 48 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 9Firing cost (weeks of salary) 95 Recovery rate (cents on the dollar) 69.4Paying taxes (rank) 73Payments (number per year) 8Time (hours per year) 328Total tax rate (% of profit) 43.6(c) The International Bank for Reconstruction and Development / The World Bank

country tables 129PUERTO RICO Latin America & Caribbean GNI per capita (US$) 14,371Ease of doing business (rank) 35 High income Population (m) 3.9Starting a business (rank) 9 Registering property (rank) 122 Trading across borders (rank) 101Procedures (number) 7 Procedures (number) 8 Documents to export (number) 7Time (days) 7 Time (days) 194 Time to export (days) 15Cost (% of income per capita) 0.8 Cost (% of property value) 1.5 Cost to export (US$ per container) 1,250Minimum capital (% of income per capita) 0.0 Documents to import (number) 10Getting credit (rank) 12 Time to import (days) 16Dealing with construction permits (rank) 144 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,250Procedures (number) 22 Depth of credit information index (0-6) 5Time (days) 209 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 97Cost (% of income per capita) 550.8 Private bureau coverage (% of adults) 61.4 Procedures (number) 39Time (days) 620Employing workers (rank) 39 Protecting investors (rank) 15 Cost (% of claim) 24.3Difficulty of hiring index (0-100) 56 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 6 Closing a business (rank) 28Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 8 Time (years) 3.8Rigidity of employment index (0-100) 25 Strength of investor protection index (0-10) 7.0 Cost (% of estate) 8Firing cost (weeks of salary) 0 Recovery rate (cents on the dollar) 55.2Paying taxes (rank) 98Payments (number per year) 16Time (hours per year) 218Total tax rate (% of profit) 64.7QATAR Middle East & North Africa GNI per capita (US$) 72,849Ease of doing business (rank) 37 High income Population (m) 0.8Starting a business (rank) 57 Registering property (rank) 54 Trading across borders (rank) 36Procedures (number) 6 Procedures (number) 10 Documents to export (number) 5Time (days) 6 Time (days) 16 Time to export (days) 21Cost (% of income per capita) 9.1 Cost (% of property value) 0.3 Cost to export (US$ per container) 735Minimum capital (% of income per capita) 75.4 Documents to import (number) 7Getting credit (rank) 131 Time to import (days) 20Dealing with construction permits (rank) 27 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 657Procedures (number) 19 Depth of credit information index (0-6) 2Time (days) 76 Public registry coverage (% of adults) .. Enforcing contracts (rank) 98Cost (% of income per capita) 0.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 43Time (days) 570Employing workers (rank) 88 Protecting investors (rank) 88 Cost (% of claim) 21.6Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 6 Closing a business (rank) 31Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 4 Time (years) 2.8Rigidity of employment index (0-100) 27 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 22Firing cost (weeks of salary) 69 Recovery rate (cents on the dollar) 52.7Paying taxes (rank) 2Payments (number per year) 1Time (hours per year) 36Total tax rate (% of profit) 11.3ROMANIA Eastern Europe & Central Asia GNI per capita (US$) 6,150Ease of doing business (rank) 47 Upper middle income Population (m) 21.5Starting a business (rank) 26 Registering property (rank) 114 Trading across borders (rank) 40Procedures (number) 6 Procedures (number) 8 Documents to export (number) 5Time (days) 10 Time (days) 83 Time to export (days) 12Cost (% of income per capita) 3.6 Cost (% of property value) 2.4 Cost to export (US$ per container) 1,275Minimum capital (% of income per capita) 1.1 Documents to import (number) 6Getting credit (rank) 12 Time to import (days) 13Dealing with construction permits (rank) 88 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,175Procedures (number) 17 Depth of credit information index (0-6) 5Time (days) 243 Public registry coverage (% of adults) 4.5 Enforcing contracts (rank) 31Cost (% of income per capita) 91.2 Private bureau coverage (% of adults) 24.7 Procedures (number) 31Time (days) 512Employing workers (rank) 143 Protecting investors (rank) 38 Cost (% of claim) 19.9Difficulty of hiring index (0-100) 67 Extent of disclosure index (0-10) 9Rigidity of hours index (0-100) 80 Extent of director liability index (0-10) 5 Closing a business (rank) 85Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 4 Time (years) 3.3Rigidity of employment index (0-100) 62 Strength of investor protection index (0-10) 6.0 Cost (% of estate) 9Firing cost (weeks of salary) 8 Recovery rate (cents on the dollar) 29.5Paying taxes (rank) 146Payments (number per year) 113Time (hours per year) 202Total tax rate (% of profit) 48.0(c) The International Bank for Reconstruction and Development / The World Bank

130 Doing Business 2009RUSSIAN FEDERATION Eastern Europe & Central Asia GNI per capita (US$) 7,560Ease of doing business (rank) 120 Upper middle income Population (m) 141.6Starting a business (rank) 65 Registering property (rank) 49 Trading across borders (rank) 161Procedures (number) 8 Procedures (number) 6 Documents to export (number) 8Time (days) 29 Time (days) 52 Time to export (days) 36Cost (% of income per capita) 2.6 Cost (% of property value) 0.2 Cost to export (US$ per container) 2,150Minimum capital (% of income per capita) 2.2 Documents to import (number) 13Getting credit (rank) 109 Time to import (days) 36Dealing with construction permits (rank) 180 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,150Procedures (number) 54 Depth of credit information index (0-6) 4Time (days) 704 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 18Cost (% of income per capita) 2,612.7 Private bureau coverage (% of adults) 10.0 Procedures (number) 37Time (days) 281Employing workers (rank) 101 Protecting investors (rank) 88 Cost (% of claim) 13.4Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 2 Closing a business (rank) 89Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 7 Time (years) 3.8Rigidity of employment index (0-100) 44 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 9Firing cost (weeks of salary) 17 Recovery rate (cents on the dollar) 28.2Paying taxes (rank) 134Payments (number per year) 22Time (hours per year) 448Total tax rate (% of profit) 48.7RWANDA Sub-Saharan Africa GNI per capita (US$) 320Ease of doing business (rank) 139 Low income Population (m) 9.7Starting a business (rank) 60 Registering property (rank) 60 Trading across borders (rank) 168Procedures (number) 8 Procedures (number) 4 Documents to export (number) 9Time (days) 14 Time (days) 315 Time to export (days) 42Cost (% of income per capita) 108.9 Cost (% of property value) 0.6 Cost to export (US$ per container) 3,275Minimum capital (% of income per capita) 0.0 Documents to import (number) 10Getting credit (rank) 145 Time to import (days) 42Dealing with construction permits (rank) 90 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 5,070Procedures (number) 14 Depth of credit information index (0-6) 2Time (days) 210 Public registry coverage (% of adults) 0.3 Enforcing contracts (rank) 48Cost (% of income per capita) 607.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 24Time (days) 310Employing workers (rank) 93 Protecting investors (rank) 170 Cost (% of claim) 78.7Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 181Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 1 Time (years) No practiceRigidity of employment index (0-100) 38 Strength of investor protection index (0-10) 2.7 Cost (% of estate) No practiceFiring cost (weeks of salary) 26 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 56Payments (number per year) 34Time (hours per year) 160Total tax rate (% of profit) 33.7SAMOA East Asia & Pacific GNI per capita (US$) 2,430Ease of doing business (rank) 64 Lower middle income Population (m) 0.2Starting a business (rank) 132 Registering property (rank) 72 Trading across borders (rank) 86Procedures (number) 9 Procedures (number) 5 Documents to export (number) 7Time (days) 35 Time (days) 147 Time to export (days) 27Cost (% of income per capita) 39.8 Cost (% of property value) 1.7 Cost to export (US$ per container) 820Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 123 Time to import (days) 31Dealing with construction permits (rank) 47 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 848Procedures (number) 18 Depth of credit information index (0-6) 0Time (days) 88 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 79Cost (% of income per capita) 90.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 44Time (days) 455Employing workers (rank) 16 Protecting investors (rank) 24 Cost (% of claim) 19.7Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 6 Closing a business (rank) 136Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 2.5Rigidity of employment index (0-100) 10 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 38Firing cost (weeks of salary) 9 Recovery rate (cents on the dollar) 14.3Paying taxes (rank) 60Payments (number per year) 37Time (hours per year) 224Total tax rate (% of profit) 18.9(c) The International Bank for Reconstruction and Development / The World Bank

country tables 131SÃO TOMÉ AND PRINCIPE Sub-Saharan Africa GNI per capita (US$) 870Ease of doing business (rank) 176 Low income Population (m) 0.2Starting a business (rank) 136 Registering property (rank) 151 Trading across borders (rank) 88Procedures (number) 10 Procedures (number) 7 Documents to export (number) 8Time (days) 144 Time (days) 62 Time to export (days) 27Cost (% of income per capita) 88.9 Cost (% of property value) 10.9 Cost to export (US$ per container) 690Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 163 Time to import (days) 29Dealing with construction permits (rank) 113 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 577Procedures (number) 13 Depth of credit information index (0-6) 0Time (days) 255 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 171Cost (% of income per capita) 740.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 43Time (days) 1,185Employing workers (rank) 179 Protecting investors (rank) 150 Cost (% of claim) 34.8Difficulty of hiring index (0-100) 50 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 80 Extent of director liability index (0-10) 1 Closing a business (rank) 181Difficulty of firing index (0-100) 60 Ease of shareholder suits index (0-10) 6 Time (years) No practiceRigidity of employment index (0-100) 63 Strength of investor protection index (0-10) 3.3 Cost (% of estate) No practiceFiring cost (weeks of salary) 91 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 151Payments (number per year) 42Time (hours per year) 424Total tax rate (% of profit) 47.2SAUDI ARABIA Middle East & North Africa GNI per capita (US$) 15,440Ease of doing business (rank) 16 High income Population (m) 24.2Starting a business (rank) 28 Registering property (rank) 1 Trading across borders (rank) 16Procedures (number) 7 Procedures (number) 2 Documents to export (number) 5Time (days) 12 Time (days) 2 Time to export (days) 17Cost (% of income per capita) 14.9 Cost (% of property value) 0.0 Cost to export (US$ per container) 681Minimum capital (% of income per capita) 0.0 Documents to import (number) 5Getting credit (rank) 59 Time to import (days) 18Dealing with construction permits (rank) 50 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 678Procedures (number) 18 Depth of credit information index (0-6) 6Time (days) 125 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 137Cost (% of income per capita) 74.7 Private bureau coverage (% of adults) 14.1 Procedures (number) 44Time (days) 635Employing workers (rank) 45 Protecting investors (rank) 24 Cost (% of claim) 27.5Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 8 Closing a business (rank) 57Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 3 Time (years) 1.5Rigidity of employment index (0-100) 13 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 22Firing cost (weeks of salary) 80 Recovery rate (cents on the dollar) 37.5Paying taxes (rank) 7Payments (number per year) 14Time (hours per year) 79Total tax rate (% of profit) 14.5SENEGAL Sub-Saharan Africa GNI per capita (US$) 820Ease of doing business (rank) 149 Low income Population (m) 12.4Starting a business (rank) 95 Registering property (rank) 161 Trading across borders (rank) 60Procedures (number) 4 Procedures (number) 6 Documents to export (number) 6Time (days) 8 Time (days) 124 Time to export (days) 14Cost (% of income per capita) 72.7 Cost (% of property value) 20.6 Cost to export (US$ per container) 1,078Minimum capital (% of income per capita) 236.2 Documents to import (number) 5Getting credit (rank) 145 Time to import (days) 18Dealing with construction permits (rank) 118 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,920Procedures (number) 16 Depth of credit information index (0-6) 1Time (days) 220 Public registry coverage (% of adults) 4.4 Enforcing contracts (rank) 146Cost (% of income per capita) 528.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 44Time (days) 780Employing workers (rank) 165 Protecting investors (rank) 164 Cost (% of claim) 26.5Difficulty of hiring index (0-100) 72 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 77Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 2 Time (years) 3.0Rigidity of employment index (0-100) 61 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 7Firing cost (weeks of salary) 38 Recovery rate (cents on the dollar) 31.6Paying taxes (rank) 170Payments (number per year) 59Time (hours per year) 666Total tax rate (% of profit) 46.0(c) The International Bank for Reconstruction and Development / The World Bank

132 Doing Business 2009SERBIA Eastern Europe & Central Asia GNI per capita (US$) 4,730Ease of doing business (rank) 94 Upper middle income Population (m) 7.4Starting a business (rank) 106 Registering property (rank) 97 Trading across borders (rank) 62Procedures (number) 11 Procedures (number) 6 Documents to export (number) 6Time (days) 23 Time (days) 111 Time to export (days) 12Cost (% of income per capita) 7.6 Cost (% of property value) 2.9 Cost to export (US$ per container) 1,398Minimum capital (% of income per capita) 6.9 Documents to import (number) 6Getting credit (rank) 28 Time to import (days) 14Dealing with construction permits (rank) 171 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 1,559Procedures (number) 20 Depth of credit information index (0-6) 5Time (days) 279 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 96Cost (% of income per capita) 2,177.7 Private bureau coverage (% of adults) 91.9 Procedures (number) 36Time (days) 635Employing workers (rank) 91 Protecting investors (rank) 70 Cost (% of claim) 28.9Difficulty of hiring index (0-100) 67 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 6 Closing a business (rank) 99Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 3 Time (years) 2.7Rigidity of employment index (0-100) 39 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 23Firing cost (weeks of salary) 25 Recovery rate (cents on the dollar) 25.4Paying taxes (rank) 126Payments (number per year) 66Time (hours per year) 279Total tax rate (% of profit) 34.0SEYCHELLES Sub-Saharan Africa GNI per capita (US$) 8,960Ease of doing business (rank) 104 Upper middle income Population (m) 0.1Starting a business (rank) 68 Registering property (rank) 55 Trading across borders (rank) 90Procedures (number) 9 Procedures (number) 4 Documents to export (number) 6Time (days) 38 Time (days) 33 Time to export (days) 17Cost (% of income per capita) 8.3 Cost (% of property value) 7.0 Cost to export (US$ per container) 1,839Minimum capital (% of income per capita) 0.0 Documents to import (number) 5Getting credit (rank) 163 Time to import (days) 19Dealing with construction permits (rank) 56 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 1,839Procedures (number) 19 Depth of credit information index (0-6) 0Time (days) 144 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 62Cost (% of income per capita) 47.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 38Time (days) 720Employing workers (rank) 120 Protecting investors (rank) 53 Cost (% of claim) 14.3Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 8 Closing a business (rank) 181Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 5 Time (years) No practiceRigidity of employment index (0-100) 38 Strength of investor protection index (0-10) 5.7 Cost (% of estate) No practiceFiring cost (weeks of salary) 39 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 40Payments (number per year) 16Time (hours per year) 76Total tax rate (% of profit) 46.6SIERRA LEONE Sub-Saharan Africa GNI per capita (US$) 260Ease of doing business (rank) 156 Low income Population (m) 5.8Starting a business (rank) 53 Registering property (rank) 163 Trading across borders (rank) 132Procedures (number) 7 Procedures (number) 7 Documents to export (number) 7Time (days) 17 Time (days) 86 Time to export (days) 29Cost (% of income per capita) 56.2 Cost (% of property value) 12.9 Cost to export (US$ per container) 1,450Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 145 Time to import (days) 34Dealing with construction permits (rank) 169 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,535Procedures (number) 25 Depth of credit information index (0-6) 0Time (days) 283 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 141Cost (% of income per capita) 452.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 40Time (days) 515Employing workers (rank) 173 Protecting investors (rank) 53 Cost (% of claim) 149.5Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 6 Closing a business (rank) 145Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 8 Time (years) 2.6Rigidity of employment index (0-100) 51 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 42Firing cost (weeks of salary) 189 Recovery rate (cents on the dollar) 8.5Paying taxes (rank) 160Payments (number per year) 28Time (hours per year) 399Total tax rate (% of profit) 233.5(c) The International Bank for Reconstruction and Development / The World Bank

country tables 133SINGAPORE East Asia & Pacific GNI per capita (US$) 32,470Ease of doing business (rank) 1 High income Population (m) 4.6Starting a business (rank) 10 Registering property (rank) 16 Trading across borders (rank) 1Procedures (number) 4 Procedures (number) 3 Documents to export (number) 4Time (days) 4 Time (days) 9 Time to export (days) 5Cost (% of income per capita) 0.7 Cost (% of property value) 2.8 Cost to export (US$ per container) 456Minimum capital (% of income per capita) 0.0 Documents to import (number) 4Getting credit (rank) 5 Time to import (days) 3Dealing with construction permits (rank) 2 Strength of legal rights index (0-10) 10 Cost to import (US$ per container) 439Procedures (number) 11 Depth of credit information index (0-6) 4Time (days) 38 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 14Cost (% of income per capita) 21.2 Private bureau coverage (% of adults) 48.3 Procedures (number) 21Time (days) 150Employing workers (rank) 1 Protecting investors (rank) 2 Cost (% of claim) 25.8Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 10Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 9 Closing a business (rank) 2Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 9 Time (years) 0.8Rigidity of employment index (0-100) 0 Strength of investor protection index (0-10) 9.3 Cost (% of estate) 1Firing cost (weeks of salary) 4 Recovery rate (cents on the dollar) 91.3Paying taxes (rank) 5Payments (number per year) 5Time (hours per year) 84Total tax rate (% of profit) 27.9SLOVAKIA OECD: High Income GNI per capita (US$) 11,730Ease of doing business (rank) 36 High income Population (m) 5.4Starting a business (rank) 48 Registering property (rank) 7 Trading across borders (rank) 116Procedures (number) 6 Procedures (number) 3 Documents to export (number) 6Time (days) 16 Time (days) 17 Time to export (days) 25Cost (% of income per capita) 3.3 Cost (% of property value) 0.1 Cost to export (US$ per container) 1,445Minimum capital (% of income per capita) 30.4 Documents to import (number) 8Getting credit (rank) 12 Time to import (days) 25Dealing with construction permits (rank) 53 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,445Procedures (number) 13 Depth of credit information index (0-6) 4Time (days) 287 Public registry coverage (% of adults) 1.4 Enforcing contracts (rank) 47Cost (% of income per capita) 13.1 Private bureau coverage (% of adults) 39.9 Procedures (number) 30Time (days) 565Employing workers (rank) 83 Protecting investors (rank) 104 Cost (% of claim) 25.7Difficulty of hiring index (0-100) 17 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 4 Closing a business (rank) 37Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 7 Time (years) 4.0Rigidity of employment index (0-100) 36 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 18Firing cost (weeks of salary) 13 Recovery rate (cents on the dollar) 45.9Paying taxes (rank) 126Payments (number per year) 31Time (hours per year) 325Total tax rate (% of profit) 47.4SLOVENIA Eastern Europe & Central Asia GNI per capita (US$) 20,960Ease of doing business (rank) 54 High income Population (m) 2.0Starting a business (rank) 41 Registering property (rank) 104 Trading across borders (rank) 78Procedures (number) 5 Procedures (number) 6 Documents to export (number) 6Time (days) 19 Time (days) 391 Time to export (days) 20Cost (% of income per capita) 0.1 Cost (% of property value) 2.0 Cost to export (US$ per container) 1,075Minimum capital (% of income per capita) 46.8 Documents to import (number) 8Getting credit (rank) 84 Time to import (days) 21Dealing with construction permits (rank) 69 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,130Procedures (number) 15 Depth of credit information index (0-6) 2Time (days) 208 Public registry coverage (% of adults) 2.7 Enforcing contracts (rank) 79Cost (% of income per capita) 112.2 Private bureau coverage (% of adults) 0.0 Procedures (number) 32Time (days) 1,350Employing workers (rank) 158 Protecting investors (rank) 18 Cost (% of claim) 18.6Difficulty of hiring index (0-100) 78 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 9 Closing a business (rank) 38Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 8 Time (years) 2.0Rigidity of employment index (0-100) 59 Strength of investor protection index (0-10) 6.7 Cost (% of estate) 8Firing cost (weeks of salary) 37 Recovery rate (cents on the dollar) 45.5Paying taxes (rank) 78Payments (number per year) 22Time (hours per year) 260Total tax rate (% of profit) 36.7(c) The International Bank for Reconstruction and Development / The World Bank

134 Doing Business 2009SOLOMON ISLANDS East Asia & Pacific GNI per capita (US$) 730Ease of doing business (rank) 89 Low income Population (m) 0.5Starting a business (rank) 99 Registering property (rank) 169 Trading across borders (rank) 75Procedures (number) 7 Procedures (number) 10 Documents to export (number) 7Time (days) 57 Time (days) 297 Time to export (days) 24Cost (% of income per capita) 53.6 Cost (% of property value) 4.8 Cost to export (US$ per container) 1,011Minimum capital (% of income per capita) 0.0 Documents to import (number) 4Getting credit (rank) 145 Time to import (days) 21Dealing with construction permits (rank) 35 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,194Procedures (number) 12 Depth of credit information index (0-6) 0Time (days) 62 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 108Cost (% of income per capita) 471.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 37Time (days) 455Employing workers (rank) 42 Protecting investors (rank) 53 Cost (% of claim) 78.9Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 7 Closing a business (rank) 105Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 7 Time (years) 1.0Rigidity of employment index (0-100) 10 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 38Firing cost (weeks of salary) 44 Recovery rate (cents on the dollar) 23.6Paying taxes (rank) 47Payments (number per year) 33Time (hours per year) 80Total tax rate (% of profit) 36.3SOUTH AFRICA Sub-Saharan Africa GNI per capita (US$) 5,760Ease of doing business (rank) 32 Upper middle income Population (m) 47.6Starting a business (rank) 47 Registering property (rank) 87 Trading across borders (rank) 147Procedures (number) 6 Procedures (number) 6 Documents to export (number) 8Time (days) 22 Time (days) 24 Time to export (days) 30Cost (% of income per capita) 6.0 Cost (% of property value) 8.8 Cost to export (US$ per container) 1,445Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 2 Time to import (days) 35Dealing with construction permits (rank) 48 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,721Procedures (number) 17 Depth of credit information index (0-6) 6Time (days) 174 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 82Cost (% of income per capita) 27.5 Private bureau coverage (% of adults) 64.8 Procedures (number) 30Time (days) 600Employing workers (rank) 102 Protecting investors (rank) 9 Cost (% of claim) 33.2Difficulty of hiring index (0-100) 56 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 8 Closing a business (rank) 73Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 8 Time (years) 2.0Rigidity of employment index (0-100) 42 Strength of investor protection index (0-10) 8.0 Cost (% of estate) 18Firing cost (weeks of salary) 24 Recovery rate (cents on the dollar) 32.2Paying taxes (rank) 23Payments (number per year) 9Time (hours per year) 200Total tax rate (% of profit) 34.2SPAIN OECD: High Income GNI per capita (US$) 29,450Ease of doing business (rank) 49 High income Population (m) 44.9Starting a business (rank) 140 Registering property (rank) 46 Trading across borders (rank) 52Procedures (number) 10 Procedures (number) 4 Documents to export (number) 6Time (days) 47 Time (days) 18 Time to export (days) 9Cost (% of income per capita) 14.9 Cost (% of property value) 7.2 Cost to export (US$ per container) 1,121Minimum capital (% of income per capita) 13.1 Documents to import (number) 8Getting credit (rank) 43 Time to import (days) 10Dealing with construction permits (rank) 51 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 1,121Procedures (number) 11 Depth of credit information index (0-6) 5Time (days) 233 Public registry coverage (% of adults) 45.8 Enforcing contracts (rank) 54Cost (% of income per capita) 62.3 Private bureau coverage (% of adults) 8.1 Procedures (number) 39Time (days) 515Employing workers (rank) 160 Protecting investors (rank) 88 Cost (% of claim) 17.2Difficulty of hiring index (0-100) 78 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 6 Closing a business (rank) 19Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 4 Time (years) 1.0Rigidity of employment index (0-100) 56 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 15Firing cost (weeks of salary) 56 Recovery rate (cents on the dollar) 73.2Paying taxes (rank) 84Payments (number per year) 8Time (hours per year) 234Total tax rate (% of profit) 60.2(c) The International Bank for Reconstruction and Development / The World Bank

country tables 135SRI LANKA South Asia GNI per capita (US$) 1,540Ease of doing business (rank) 102 Lower middle income Population (m) 19.9Starting a business (rank) 29 Registering property (rank) 141 Trading across borders (rank) 66Procedures (number) 4 Procedures (number) 8 Documents to export (number) 8Time (days) 38 Time (days) 83 Time to export (days) 21Cost (% of income per capita) 7.1 Cost (% of property value) 5.1 Cost to export (US$ per container) 865Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 68 Time to import (days) 20Dealing with construction permits (rank) 161 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 895Procedures (number) 21 Depth of credit information index (0-6) 5Time (days) 214 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 135Cost (% of income per capita) 1,486.5 Private bureau coverage (% of adults) 8.7 Procedures (number) 40Time (days) 1,318Employing workers (rank) 110 Protecting investors (rank) 70 Cost (% of claim) 22.8Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 5 Closing a business (rank) 43Difficulty of firing index (0-100) 60 Ease of shareholder suits index (0-10) 7 Time (years) 1.7Rigidity of employment index (0-100) 27 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 5Firing cost (weeks of salary) 169 Recovery rate (cents on the dollar) 43.4Paying taxes (rank) 164Payments (number per year) 62Time (hours per year) 256Total tax rate (% of profit) 63.7ST. KITTS AND NEVIS Latin America & Caribbean GNI per capita (US$) 9,630Ease of doing business (rank) 67 Upper middle income Population (m) 0.0Starting a business (rank) 72 Registering property (rank) 146 Trading across borders (rank) 27Procedures (number) 8 Procedures (number) 6 Documents to export (number) 6Time (days) 45 Time (days) 81 Time to export (days) 12Cost (% of income per capita) 12.5 Cost (% of property value) 13.3 Cost to export (US$ per container) 850Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 84 Time to import (days) 14Dealing with construction permits (rank) 6 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 938Procedures (number) 14 Depth of credit information index (0-6) 0Time (days) 67 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 114Cost (% of income per capita) 5.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 47Time (days) 578Employing workers (rank) 22 Protecting investors (rank) 24 Cost (% of claim) 20.5Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 8 Closing a business (rank) 181Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 7 Time (years) No practiceRigidity of employment index (0-100) 17 Strength of investor protection index (0-10) 6.3 Cost (% of estate) No practiceFiring cost (weeks of salary) 13 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 95Payments (number per year) 24Time (hours per year) 172Total tax rate (% of profit) 52.7ST. LUCIA Latin America & Caribbean GNI per capita (US$) 5,530Ease of doing business (rank) 34 Upper middle income Population (m) 0.2Starting a business (rank) 36 Registering property (rank) 66 Trading across borders (rank) 80Procedures (number) 6 Procedures (number) 6 Documents to export (number) 5Time (days) 20 Time (days) 16 Time to export (days) 15Cost (% of income per capita) 22.6 Cost (% of property value) 7.4 Cost to export (US$ per container) 1,425Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 84 Time to import (days) 18Dealing with construction permits (rank) 13 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,470Procedures (number) 9 Depth of credit information index (0-6) 0Time (days) 139 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 161Cost (% of income per capita) 30.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 47Time (days) 635Employing workers (rank) 23 Protecting investors (rank) 24 Cost (% of claim) 37.3Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 8 Closing a business (rank) 45Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 7 Time (years) 2.0Rigidity of employment index (0-100) 7 Strength of investor protection index (0-10) 6.3 Cost (% of estate) 9Firing cost (weeks of salary) 56 Recovery rate (cents on the dollar) 42.9Paying taxes (rank) 29Payments (number per year) 32Time (hours per year) 61Total tax rate (% of profit) 34.0(c) The International Bank for Reconstruction and Development / The World Bank

136 Doing Business 2009ST. VINCENT AND THE GRENADINES Latin America & Caribbean GNI per capita (US$) 4,210Ease of doing business (rank) 66 Upper middle income Population (m) 0.1Starting a business (rank) 39 Registering property (rank) 129 Trading across borders (rank) 72Procedures (number) 8 Procedures (number) 7 Documents to export (number) 6Time (days) 12 Time (days) 38 Time to export (days) 12Cost (% of income per capita) 26.8 Cost (% of property value) 11.9 Cost to export (US$ per container) 1,770Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 84 Time to import (days) 13Dealing with construction permits (rank) 1 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,769Procedures (number) 11 Depth of credit information index (0-6) 0Time (days) 74 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 109Cost (% of income per capita) 8.4 Private bureau coverage (% of adults) 0.0 Procedures (number) 45Time (days) 394Employing workers (rank) 41 Protecting investors (rank) 24 Cost (% of claim) 30.3Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 8 Closing a business (rank) 181Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 7 Time (years) No practiceRigidity of employment index (0-100) 13 Strength of investor protection index (0-10) 6.3 Cost (% of estate) No practiceFiring cost (weeks of salary) 54 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 76Payments (number per year) 36Time (hours per year) 117Total tax rate (% of profit) 42.6SUDAN Sub-Saharan Africa GNI per capita (US$) 960Ease of doing business (rank) 147 Lower middle income Population (m) 38.6Starting a business (rank) 107 Registering property (rank) 35 Trading across borders (rank) 139Procedures (number) 10 Procedures (number) 6 Documents to export (number) 6Time (days) 39 Time (days) 9 Time to export (days) 35Cost (% of income per capita) 50.8 Cost (% of property value) 3.1 Cost to export (US$ per container) 2,050Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 131 Time to import (days) 49Dealing with construction permits (rank) 135 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 2,900Procedures (number) 19 Depth of credit information index (0-6) 0Time (days) 271 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 143Cost (% of income per capita) 240.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 53Time (days) 810Employing workers (rank) 144 Protecting investors (rank) 150 Cost (% of claim) 19.8Difficulty of hiring index (0-100) 39 Extent of disclosure index (0-10) 0Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 6 Closing a business (rank) 181Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 4 Time (years) No practiceRigidity of employment index (0-100) 36 Strength of investor protection index (0-10) 3.3 Cost (% of estate) No practiceFiring cost (weeks of salary) 118 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 67Payments (number per year) 42Time (hours per year) 180Total tax rate (% of profit) 31.6SURINAME Latin America & Caribbean GNI per capita (US$) 4,730Ease of doing business (rank) 146 Upper middle income Population (m) 0.5Starting a business (rank) 170 Registering property (rank) 136 Trading across borders (rank) 98Procedures (number) 13 Procedures (number) 4 Documents to export (number) 8Time (days) 694 Time (days) 193 Time to export (days) 25Cost (% of income per capita) 125.2 Cost (% of property value) 13.9 Cost to export (US$ per container) 975Minimum capital (% of income per capita) 0.8 Documents to import (number) 7Getting credit (rank) 131 Time to import (days) 25Dealing with construction permits (rank) 95 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 885Procedures (number) 14 Depth of credit information index (0-6) 0Time (days) 431 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 177Cost (% of income per capita) 105.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 44Time (days) 1,715Employing workers (rank) 53 Protecting investors (rank) 178 Cost (% of claim) 37.1Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 1Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 0 Closing a business (rank) 147Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 5 Time (years) 5.0Rigidity of employment index (0-100) 23 Strength of investor protection index (0-10) 2.0 Cost (% of estate) 30Firing cost (weeks of salary) 26 Recovery rate (cents on the dollar) 8.1Paying taxes (rank) 26Payments (number per year) 17Time (hours per year) 199Total tax rate (% of profit) 27.9(c) The International Bank for Reconstruction and Development / The World Bank

country tables 137SWAZILAND Sub-Saharan Africa GNI per capita (US$) 2,580Ease of doing business (rank) 108 Lower middle income Population (m) 1.1Starting a business (rank) 153 Registering property (rank) 153 Trading across borders (rank) 154Procedures (number) 13 Procedures (number) 11 Documents to export (number) 9Time (days) 61 Time (days) 46 Time to export (days) 21Cost (% of income per capita) 35.1 Cost (% of property value) 7.1 Cost to export (US$ per container) 2,184Minimum capital (% of income per capita) 0.6 Documents to import (number) 11Getting credit (rank) 43 Time to import (days) 33Dealing with construction permits (rank) 21 Strength of legal rights index (0-10) 6 Cost to import (US$ per container) 2,249Procedures (number) 13 Depth of credit information index (0-6) 5Time (days) 93 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 129Cost (% of income per capita) 94.9 Private bureau coverage (% of adults) 43.5 Procedures (number) 40Time (days) 972Employing workers (rank) 40 Protecting investors (rank) 178 Cost (% of claim) 23.1Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 0Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 1 Closing a business (rank) 65Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 5 Time (years) 2.0Rigidity of employment index (0-100) 13 Strength of investor protection index (0-10) 2.0 Cost (% of estate) 15Firing cost (weeks of salary) 53 Recovery rate (cents on the dollar) 34.9Paying taxes (rank) 52Payments (number per year) 33Time (hours per year) 104Total tax rate (% of profit) 36.6SWEDEN OECD: High Income GNI per capita (US$) 46,060Ease of doing business (rank) 17 High income Population (m) 9.1Starting a business (rank) 30 Registering property (rank) 10 Trading across borders (rank) 6Procedures (number) 3 Procedures (number) 1 Documents to export (number) 4Time (days) 15 Time (days) 2 Time to export (days) 8Cost (% of income per capita) 0.6 Cost (% of property value) 3.0 Cost to export (US$ per container) 697Minimum capital (% of income per capita) 30.3 Documents to import (number) 3Getting credit (rank) 68 Time to import (days) 6Dealing with construction permits (rank) 17 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 735Procedures (number) 8 Depth of credit information index (0-6) 4Time (days) 116 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 55Cost (% of income per capita) 103.5 Private bureau coverage (% of adults) 100.0 Procedures (number) 30Time (days) 508Employing workers (rank) 114 Protecting investors (rank) 53 Cost (% of claim) 31.3Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 4 Closing a business (rank) 18Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 7 Time (years) 2.0Rigidity of employment index (0-100) 44 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 9Firing cost (weeks of salary) 26 Recovery rate (cents on the dollar) 75.1Paying taxes (rank) 42Payments (number per year) 2Time (hours per year) 122Total tax rate (% of profit) 54.5SWITZERLAND OECD: High Income GNI per capita (US$) 59,880Ease of doing business (rank) 21 High income Population (m) 7.6Starting a business (rank) 52 Registering property (rank) 13 Trading across borders (rank) 39Procedures (number) 6 Procedures (number) 4 Documents to export (number) 4Time (days) 20 Time (days) 16 Time to export (days) 8Cost (% of income per capita) 2.1 Cost (% of property value) 0.4 Cost to export (US$ per container) 1,537Minimum capital (% of income per capita) 27.6 Documents to import (number) 5Getting credit (rank) 12 Time to import (days) 9Dealing with construction permits (rank) 32 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,505Procedures (number) 14 Depth of credit information index (0-6) 5Time (days) 154 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 32Cost (% of income per capita) 52.1 Private bureau coverage (% of adults) 22.5 Procedures (number) 32Time (days) 417Employing workers (rank) 19 Protecting investors (rank) 164 Cost (% of claim) 24.0Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 0Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 36Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 4 Time (years) 3.0Rigidity of employment index (0-100) 17 Strength of investor protection index (0-10) 3.0 Cost (% of estate) 4Firing cost (weeks of salary) 13 Recovery rate (cents on the dollar) 46.8Paying taxes (rank) 19Payments (number per year) 24Time (hours per year) 63Total tax rate (% of profit) 28.9(c) The International Bank for Reconstruction and Development / The World Bank

138 Doing Business 2009SYRIA Middle East & North Africa GNI per capita (US$) 1,760Ease of doing business (rank) 137 Lower middle income Population (m) 19.9Starting a business (rank) 124 Registering property (rank) 71 Trading across borders (rank) 111Procedures (number) 8 Procedures (number) 4 Documents to export (number) 8Time (days) 17 Time (days) 19 Time to export (days) 15Cost (% of income per capita) 18.2 Cost (% of property value) 28.0 Cost to export (US$ per container) 1,190Minimum capital (% of income per capita) 4,353.8 Documents to import (number) 9Getting credit (rank) 178 Time to import (days) 21Dealing with construction permits (rank) 132 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 1,625Procedures (number) 26 Depth of credit information index (0-6) 0Time (days) 128 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 174Cost (% of income per capita) 697.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 55Time (days) 872Employing workers (rank) 122 Protecting investors (rank) 113 Cost (% of claim) 29.3Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 84Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 2 Time (years) 4.1Rigidity of employment index (0-100) 34 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 9Firing cost (weeks of salary) 80 Recovery rate (cents on the dollar) 29.5Paying taxes (rank) 99Payments (number per year) 20Time (hours per year) 336Total tax rate (% of profit) 43.5TAIWAN, CHINA East Asia & Pacific GNI per capita (US$) 17,930Ease of doing business (rank) 61 High income Population (m) 22.9Starting a business (rank) 119 Registering property (rank) 26 Trading across borders (rank) 30Procedures (number) 8 Procedures (number) 3 Documents to export (number) 7Time (days) 42 Time (days) 5 Time to export (days) 13Cost (% of income per capita) 4.1 Cost (% of property value) 6.2 Cost to export (US$ per container) 757Minimum capital (% of income per capita) 177.4 Documents to import (number) 7Getting credit (rank) 68 Time to import (days) 12Dealing with construction permits (rank) 127 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 769Procedures (number) 29 Depth of credit information index (0-6) 5Time (days) 193 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 88Cost (% of income per capita) 123.6 Private bureau coverage (% of adults) 62.7 Procedures (number) 47Time (days) 510Employing workers (rank) 159 Protecting investors (rank) 70 Cost (% of claim) 17.7Difficulty of hiring index (0-100) 78 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 4 Closing a business (rank) 11Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 5 Time (years) 1.9Rigidity of employment index (0-100) 53 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 4Firing cost (weeks of salary) 91 Recovery rate (cents on the dollar) 80.9Paying taxes (rank) 100Payments (number per year) 23Time (hours per year) 340Total tax rate (% of profit) 40.4TAJIKISTAN Eastern Europe & Central Asia GNI per capita (US$) 460Ease of doing business (rank) 159 Low income Population (m) 6.7Starting a business (rank) 168 Registering property (rank) 46 Trading across borders (rank) 177Procedures (number) 13 Procedures (number) 6 Documents to export (number) 10Time (days) 49 Time (days) 37 Time to export (days) 82Cost (% of income per capita) 27.6 Cost (% of property value) 1.8 Cost to export (US$ per container) 3,150Minimum capital (% of income per capita) 216.8 Documents to import (number) 10Getting credit (rank) 172 Time to import (days) 83Dealing with construction permits (rank) 178 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 4,550Procedures (number) 32 Depth of credit information index (0-6) 0Time (days) 351 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 23Cost (% of income per capita) 1,420.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 34Time (days) 295Employing workers (rank) 128 Protecting investors (rank) 150 Cost (% of claim) 20.5Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 80 Extent of director liability index (0-10) 1 Closing a business (rank) 97Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 5 Time (years) 3.0Rigidity of employment index (0-100) 51 Strength of investor protection index (0-10) 3.3 Cost (% of estate) 9Firing cost (weeks of salary) 22 Recovery rate (cents on the dollar) 25.4Paying taxes (rank) 159Payments (number per year) 54Time (hours per year) 224Total tax rate (% of profit) 85.5(c) The International Bank for Reconstruction and Development / The World Bank

country tables 139TANZANIA Sub-Saharan Africa GNI per capita (US$) 400Ease of doing business (rank) 127 Low income Population (m) 40.4Starting a business (rank) 109 Registering property (rank) 142 Trading across borders (rank) 103Procedures (number) 12 Procedures (number) 9 Documents to export (number) 5Time (days) 29 Time (days) 73 Time to export (days) 24Cost (% of income per capita) 41.5 Cost (% of property value) 4.4 Cost to export (US$ per container) 1,262Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 84 Time to import (days) 31Dealing with construction permits (rank) 172 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,475Procedures (number) 21 Depth of credit information index (0-6) 0Time (days) 308 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 33Cost (% of income per capita) 2,087.0 Private bureau coverage (% of adults) 0.0 Procedures (number) 38Time (days) 462Employing workers (rank) 140 Protecting investors (rank) 88 Cost (% of claim) 14.3Difficulty of hiring index (0-100) 100 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 4 Closing a business (rank) 111Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 8 Time (years) 3.0Rigidity of employment index (0-100) 63 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 22Firing cost (weeks of salary) 18 Recovery rate (cents on the dollar) 21.3Paying taxes (rank) 109Payments (number per year) 48Time (hours per year) 172Total tax rate (% of profit) 45.1THAILAND East Asia & Pacific GNI per capita (US$) 3,400Ease of doing business (rank) 13 Lower middle income Population (m) 63.8Starting a business (rank) 44 Registering property (rank) 5 Trading across borders (rank) 10Procedures (number) 8 Procedures (number) 2 Documents to export (number) 4Time (days) 33 Time (days) 2 Time to export (days) 14Cost (% of income per capita) 4.9 Cost (% of property value) 1.1 Cost to export (US$ per container) 625Minimum capital (% of income per capita) 0.0 Documents to import (number) 3Getting credit (rank) 68 Time to import (days) 13Dealing with construction permits (rank) 12 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 795Procedures (number) 11 Depth of credit information index (0-6) 5Time (days) 156 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 25Cost (% of income per capita) 9.4 Private bureau coverage (% of adults) 31.8 Procedures (number) 35Time (days) 479Employing workers (rank) 56 Protecting investors (rank) 11 Cost (% of claim) 14.3Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 10Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 7 Closing a business (rank) 46Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 6 Time (years) 2.7Rigidity of employment index (0-100) 18 Strength of investor protection index (0-10) 7.7 Cost (% of estate) 36Firing cost (weeks of salary) 54 Recovery rate (cents on the dollar) 42.4Paying taxes (rank) 82Payments (number per year) 23Time (hours per year) 264Total tax rate (% of profit) 37.8TIMOR-LESTE East Asia & Pacific GNI per capita (US$) 1,510Ease of doing business (rank) 170 Lower middle income Population (m) 1.1Starting a business (rank) 150 Registering property (rank) 177 Trading across borders (rank) 79Procedures (number) 10 Procedures (number) No practice Documents to export (number) 6Time (days) 83 Time (days) No practice Time to export (days) 25Cost (% of income per capita) 6.6 Cost (% of property value) No practice Cost to export (US$ per container) 1,010Minimum capital (% of income per capita) 331.1 Documents to import (number) 7Getting credit (rank) 178 Time to import (days) 26Dealing with construction permits (rank) 100 Strength of legal rights index (0-10) 1 Cost to import (US$ per container) 1,015Procedures (number) 22 Depth of credit information index (0-6) 0Time (days) 208 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 181Cost (% of income per capita) 62.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 51Time (days) 1,800Employing workers (rank) 78 Protecting investors (rank) 126 Cost (% of claim) 163.2Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 4 Closing a business (rank) 181Difficulty of firing index (0-100) 50 Ease of shareholder suits index (0-10) 5 Time (years) No practiceRigidity of employment index (0-100) 34 Strength of investor protection index (0-10) 4.0 Cost (% of estate) No practiceFiring cost (weeks of salary) 17 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 75Payments (number per year) 15Time (hours per year) 640Total tax rate (% of profit) 28.3(c) The International Bank for Reconstruction and Development / The World Bank

140 Doing Business 2009TOGO Sub-Saharan Africa GNI per capita (US$) 360Ease of doing business (rank) 163 Low income Population (m) 6.6Starting a business (rank) 179 Registering property (rank) 155 Trading across borders (rank) 84Procedures (number) 13 Procedures (number) 5 Documents to export (number) 6Time (days) 53 Time (days) 295 Time to export (days) 24Cost (% of income per capita) 251.3 Cost (% of property value) 13.4 Cost to export (US$ per container) 940Minimum capital (% of income per capita) 559.9 Documents to import (number) 8Getting credit (rank) 145 Time to import (days) 29Dealing with construction permits (rank) 145 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 963Procedures (number) 15 Depth of credit information index (0-6) 1Time (days) 277 Public registry coverage (% of adults) 2.6 Enforcing contracts (rank) 151Cost (% of income per capita) 1,400.1 Private bureau coverage (% of adults) 0.0 Procedures (number) 41Time (days) 588Employing workers (rank) 155 Protecting investors (rank) 142 Cost (% of claim) 47.5Difficulty of hiring index (0-100) 72 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 1 Closing a business (rank) 94Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 4 Time (years) 3.0Rigidity of employment index (0-100) 57 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 15Firing cost (weeks of salary) 36 Recovery rate (cents on the dollar) 26.6Paying taxes (rank) 147Payments (number per year) 53Time (hours per year) 270Total tax rate (% of profit) 48.2TONGA East Asia & Pacific GNI per capita (US$) 2,320Ease of doing business (rank) 43 Lower middle income Population (m) 0.1Starting a business (rank) 19 Registering property (rank) 113 Trading across borders (rank) 50Procedures (number) 4 Procedures (number) 4 Documents to export (number) 7Time (days) 25 Time (days) 108 Time to export (days) 19Cost (% of income per capita) 9.6 Cost (% of property value) 10.2 Cost to export (US$ per container) 650Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 109 Time to import (days) 25Dealing with construction permits (rank) 31 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 725Procedures (number) 11 Depth of credit information index (0-6) 0Time (days) 76 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 57Cost (% of income per capita) 371.6 Private bureau coverage (% of adults) 0.0 Procedures (number) 37Time (days) 350Employing workers (rank) 5 Protecting investors (rank) 104 Cost (% of claim) 30.5Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 3 Closing a business (rank) 101Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 2.7Rigidity of employment index (0-100) 7 Strength of investor protection index (0-10) 4.7 Cost (% of estate) 22Firing cost (weeks of salary) 0 Recovery rate (cents on the dollar) 25.2Paying taxes (rank) 31Payments (number per year) 23Time (hours per year) 164Total tax rate (% of profit) 27.5TRINIDAD AND TOBAGO Latin America & Caribbean GNI per capita (US$) 14,100Ease of doing business (rank) 80 High income Population (m) 1.3Starting a business (rank) 56 Registering property (rank) 164 Trading across borders (rank) 47Procedures (number) 9 Procedures (number) 8 Documents to export (number) 5Time (days) 43 Time (days) 162 Time to export (days) 14Cost (% of income per capita) 0.9 Cost (% of property value) 7.0 Cost to export (US$ per container) 866Minimum capital (% of income per capita) 0.0 Documents to import (number) 6Getting credit (rank) 28 Time to import (days) 26Dealing with construction permits (rank) 84 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,100Procedures (number) 20 Depth of credit information index (0-6) 4Time (days) 261 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 167Cost (% of income per capita) 5.5 Private bureau coverage (% of adults) 37.6 Procedures (number) 42Time (days) 1,340Employing workers (rank) 36 Protecting investors (rank) 18 Cost (% of claim) 33.5Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 9 Closing a business (rank) 181Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 7 Time (years) No practiceRigidity of employment index (0-100) 7 Strength of investor protection index (0-10) 6.7 Cost (% of estate) No practiceFiring cost (weeks of salary) 67 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 51Payments (number per year) 40Time (hours per year) 114Total tax rate (% of profit) 33.1(c) The International Bank for Reconstruction and Development / The World Bank

country tables 141TUNISIA Middle East & North Africa GNI per capita (US$) 3,200Ease of doing business (rank) 73 Lower middle income Population (m) 10.2Starting a business (rank) 37 Registering property (rank) 55 Trading across borders (rank) 38Procedures (number) 10 Procedures (number) 4 Documents to export (number) 5Time (days) 11 Time (days) 39 Time to export (days) 17Cost (% of income per capita) 7.9 Cost (% of property value) 6.1 Cost to export (US$ per container) 733Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 84 Time to import (days) 23Dealing with construction permits (rank) 101 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 858Procedures (number) 20 Depth of credit information index (0-6) 5Time (days) 84 Public registry coverage (% of adults) 14.9 Enforcing contracts (rank) 72Cost (% of income per capita) 1,017.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 39Time (days) 565Employing workers (rank) 113 Protecting investors (rank) 142 Cost (% of claim) 21.8Difficulty of hiring index (0-100) 28 Extent of disclosure index (0-10) 0Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 32Difficulty of firing index (0-100) 80 Ease of shareholder suits index (0-10) 6 Time (years) 1.3Rigidity of employment index (0-100) 49 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 7Firing cost (weeks of salary) 17 Recovery rate (cents on the dollar) 52.3Paying taxes (rank) 106Payments (number per year) 22Time (hours per year) 228Total tax rate (% of profit) 59.1TURKEY Eastern Europe & Central Asia GNI per capita (US$) 8,020Ease of doing business (rank) 59 Upper middle income Population (m) 73.9Starting a business (rank) 43 Registering property (rank) 34 Trading across borders (rank) 59Procedures (number) 6 Procedures (number) 6 Documents to export (number) 7Time (days) 6 Time (days) 6 Time to export (days) 14Cost (% of income per capita) 14.9 Cost (% of property value) 3.0 Cost to export (US$ per container) 940Minimum capital (% of income per capita) 10.9 Documents to import (number) 8Getting credit (rank) 68 Time to import (days) 15Dealing with construction permits (rank) 131 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 1,063Procedures (number) 25 Depth of credit information index (0-6) 5Time (days) 188 Public registry coverage (% of adults) 12.7 Enforcing contracts (rank) 27Cost (% of income per capita) 249.3 Private bureau coverage (% of adults) 26.3 Procedures (number) 35Time (days) 420Employing workers (rank) 138 Protecting investors (rank) 53 Cost (% of claim) 18.8Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 9Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 4 Closing a business (rank) 118Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 4 Time (years) 3.3Rigidity of employment index (0-100) 38 Strength of investor protection index (0-10) 5.7 Cost (% of estate) 15Firing cost (weeks of salary) 95 Recovery rate (cents on the dollar) 20.2Paying taxes (rank) 68Payments (number per year) 15Time (hours per year) 223Total tax rate (% of profit) 45.5UGANDA Sub-Saharan Africa GNI per capita (US$) 340Ease of doing business (rank) 111 Low income Population (m) 30.9Starting a business (rank) 129 Registering property (rank) 167 Trading across borders (rank) 145Procedures (number) 18 Procedures (number) 13 Documents to export (number) 6Time (days) 25 Time (days) 227 Time to export (days) 39Cost (% of income per capita) 100.7 Cost (% of property value) 4.1 Cost to export (US$ per container) 3,090Minimum capital (% of income per capita) 0.0 Documents to import (number) 7Getting credit (rank) 109 Time to import (days) 37Dealing with construction permits (rank) 81 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 3,290Procedures (number) 16 Depth of credit information index (0-6) 0Time (days) 143 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 117Cost (% of income per capita) 703.5 Private bureau coverage (% of adults) 0.0 Procedures (number) 38Time (days) 535Employing workers (rank) 11 Protecting investors (rank) 126 Cost (% of claim) 44.9Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 2Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 5 Closing a business (rank) 51Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 5 Time (years) 2.2Rigidity of employment index (0-100) 3 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 30Firing cost (weeks of salary) 13 Recovery rate (cents on the dollar) 41.1Paying taxes (rank) 70Payments (number per year) 32Time (hours per year) 222Total tax rate (% of profit) 34.5(c) The International Bank for Reconstruction and Development / The World Bank

142 Doing Business 2009UKRAINE Eastern Europe & Central Asia GNI per capita (US$) 2,550Ease of doing business (rank) 145 Lower middle income Population (m) 46.4Starting a business (rank) 128 Registering property (rank) 140 Trading across borders (rank) 131Procedures (number) 10 Procedures (number) 10 Documents to export (number) 6Time (days) 27 Time (days) 93 Time to export (days) 31Cost (% of income per capita) 5.5 Cost (% of property value) 2.9 Cost to export (US$ per container) 1,230Minimum capital (% of income per capita) 174.2 Documents to import (number) 10Getting credit (rank) 28 Time to import (days) 36Dealing with construction permits (rank) 179 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,250Procedures (number) 30 Depth of credit information index (0-6) 3Time (days) 471 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 49Cost (% of income per capita) 1,901.7 Private bureau coverage (% of adults) 3.0 Procedures (number) 30Time (days) 354Employing workers (rank) 100 Protecting investors (rank) 142 Cost (% of claim) 41.5Difficulty of hiring index (0-100) 44 Extent of disclosure index (0-10) 1Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 3 Closing a business (rank) 143Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 7 Time (years) 2.9Rigidity of employment index (0-100) 45 Strength of investor protection index (0-10) 3.7 Cost (% of estate) 42Firing cost (weeks of salary) 13 Recovery rate (cents on the dollar) 9.1Paying taxes (rank) 180Payments (number per year) 99Time (hours per year) 848Total tax rate (% of profit) 58.4UNITED ARAB EMIRATES Middle East & North Africa GNI per capita (US$) 26,210Ease of doing business (rank) 46 High income Population (m) 4.4Starting a business (rank) 113 Registering property (rank) 11 Trading across borders (rank) 14Procedures (number) 8 Procedures (number) 3 Documents to export (number) 5Time (days) 17 Time (days) 6 Time to export (days) 10Cost (% of income per capita) 13.4 Cost (% of property value) 2.0 Cost to export (US$ per container) 618Minimum capital (% of income per capita) 311.9 Documents to import (number) 7Getting credit (rank) 68 Time to import (days) 10Dealing with construction permits (rank) 41 Strength of legal rights index (0-10) 4 Cost to import (US$ per container) 587Procedures (number) 21 Depth of credit information index (0-6) 5Time (days) 125 Public registry coverage (% of adults) 6.5 Enforcing contracts (rank) 145Cost (% of income per capita) 1.5 Private bureau coverage (% of adults) 7.7 Procedures (number) 50Time (days) 607Employing workers (rank) 47 Protecting investors (rank) 113 Cost (% of claim) 26.2Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 7 Closing a business (rank) 141Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 2 Time (years) 5.1Rigidity of employment index (0-100) 13 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 30Firing cost (weeks of salary) 84 Recovery rate (cents on the dollar) 10.2Paying taxes (rank) 4Payments (number per year) 14Time (hours per year) 12Total tax rate (% of profit) 14.4UNITED KINGDOM OECD: High Income GNI per capita (US$) 42,740Ease of doing business (rank) 6 High income Population (m) 61.0Starting a business (rank) 8 Registering property (rank) 22 Trading across borders (rank) 28Procedures (number) 6 Procedures (number) 2 Documents to export (number) 4Time (days) 13 Time (days) 21 Time to export (days) 13Cost (% of income per capita) 0.8 Cost (% of property value) 4.1 Cost to export (US$ per container) 1,030Minimum capital (% of income per capita) 0.0 Documents to import (number) 4Getting credit (rank) 2 Time to import (days) 13Dealing with construction permits (rank) 61 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 1,350Procedures (number) 19 Depth of credit information index (0-6) 6Time (days) 144 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 24Cost (% of income per capita) 64.2 Private bureau coverage (% of adults) 100.0 Procedures (number) 30Time (days) 404Employing workers (rank) 28 Protecting investors (rank) 9 Cost (% of claim) 23.4Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 10Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 7 Closing a business (rank) 9Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 7 Time (years) 1.0Rigidity of employment index (0-100) 14 Strength of investor protection index (0-10) 8.0 Cost (% of estate) 6Firing cost (weeks of salary) 22 Recovery rate (cents on the dollar) 84.2Paying taxes (rank) 16Payments (number per year) 8Time (hours per year) 105Total tax rate (% of profit) 35.3(c) The International Bank for Reconstruction and Development / The World Bank

country tables 143UNITED STATES OECD: High Income GNI per capita (US$) 46,040Ease of doing business (rank) 3 High income Population (m) 301.6Starting a business (rank) 6 Registering property (rank) 12 Trading across borders (rank) 15Procedures (number) 6 Procedures (number) 4 Documents to export (number) 4Time (days) 6 Time (days) 12 Time to export (days) 6Cost (% of income per capita) 0.7 Cost (% of property value) 0.5 Cost to export (US$ per container) 990Minimum capital (% of income per capita) 0.0 Documents to import (number) 5Getting credit (rank) 5 Time to import (days) 5Dealing with construction permits (rank) 26 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,245Procedures (number) 19 Depth of credit information index (0-6) 6Time (days) 40 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 6Cost (% of income per capita) 13.1 Private bureau coverage (% of adults) 100.0 Procedures (number) 32Time (days) 300Employing workers (rank) 1 Protecting investors (rank) 5 Cost (% of claim) 9.4Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 7Rigidity of hours index (0-100) 0 Extent of director liability index (0-10) 9 Closing a business (rank) 15Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 9 Time (years) 1.5Rigidity of employment index (0-100) 0 Strength of investor protection index (0-10) 8.3 Cost (% of estate) 7Firing cost (weeks of salary) 0 Recovery rate (cents on the dollar) 76.7Paying taxes (rank) 46Payments (number per year) 10Time (hours per year) 187Total tax rate (% of profit) 42.3URUGUAY Latin America & Caribbean GNI per capita (US$) 6,380Ease of doing business (rank) 109 Upper middle income Population (m) 3.3Starting a business (rank) 120 Registering property (rank) 149 Trading across borders (rank) 127Procedures (number) 11 Procedures (number) 8 Documents to export (number) 10Time (days) 44 Time (days) 66 Time to export (days) 19Cost (% of income per capita) 43.5 Cost (% of property value) 7.1 Cost to export (US$ per container) 1,100Minimum capital (% of income per capita) 0.0 Documents to import (number) 10Getting credit (rank) 43 Time to import (days) 22Dealing with construction permits (rank) 139 Strength of legal rights index (0-10) 5 Cost to import (US$ per container) 1,330Procedures (number) 30 Depth of credit information index (0-6) 6Time (days) 234 Public registry coverage (% of adults) 15.4 Enforcing contracts (rank) 99Cost (% of income per capita) 108.0 Private bureau coverage (% of adults) 98.0 Procedures (number) 40Time (days) 720Employing workers (rank) 79 Protecting investors (rank) 88 Cost (% of claim) 19.0Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 4 Closing a business (rank) 44Difficulty of firing index (0-100) 0 Ease of shareholder suits index (0-10) 8 Time (years) 2.1Rigidity of employment index (0-100) 31 Strength of investor protection index (0-10) 5.0 Cost (% of estate) 7Firing cost (weeks of salary) 31 Recovery rate (cents on the dollar) 43.0Paying taxes (rank) 167Payments (number per year) 53Time (hours per year) 336Total tax rate (% of profit) 58.5UZBEKISTAN Eastern Europe & Central Asia GNI per capita (US$) 730Ease of doing business (rank) 138 Low income Population (m) 26.9Starting a business (rank) 70 Registering property (rank) 125 Trading across borders (rank) 171Procedures (number) 7 Procedures (number) 12 Documents to export (number) 7Time (days) 15 Time (days) 78 Time to export (days) 80Cost (% of income per capita) 10.3 Cost (% of property value) 1.5 Cost to export (US$ per container) 3,100Minimum capital (% of income per capita) 17.7 Documents to import (number) 11Getting credit (rank) 123 Time to import (days) 104Dealing with construction permits (rank) 148 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 4,600Procedures (number) 26 Depth of credit information index (0-6) 3Time (days) 260 Public registry coverage (% of adults) 2.3 Enforcing contracts (rank) 46Cost (% of income per capita) 123.4 Private bureau coverage (% of adults) 2.2 Procedures (number) 42Time (days) 195Employing workers (rank) 76 Protecting investors (rank) 113 Cost (% of claim) 22.2Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 4Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 6 Closing a business (rank) 122Difficulty of firing index (0-100) 30 Ease of shareholder suits index (0-10) 3 Time (years) 4.0Rigidity of employment index (0-100) 34 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 10Firing cost (weeks of salary) 22 Recovery rate (cents on the dollar) 18.7Paying taxes (rank) 162Payments (number per year) 106Time (hours per year) 196Total tax rate (% of profit) 90.6(c) The International Bank for Reconstruction and Development / The World Bank

144 Doing Business 2009VANUATU East Asia & Pacific GNI per capita (US$) 1,840Ease of doing business (rank) 60 Lower middle income Population (m) 0.2Starting a business (rank) 94 Registering property (rank) 115 Trading across borders (rank) 136Procedures (number) 8 Procedures (number) 2 Documents to export (number) 7Time (days) 39 Time (days) 188 Time to export (days) 26Cost (% of income per capita) 54.8 Cost (% of property value) 11.0 Cost to export (US$ per container) 1,497Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 84 Time to import (days) 30Dealing with construction permits (rank) 24 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 1,392Procedures (number) 7 Depth of credit information index (0-6) 0Time (days) 51 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 67Cost (% of income per capita) 356.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 30Time (days) 430Employing workers (rank) 86 Protecting investors (rank) 70 Cost (% of claim) 74.7Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 5Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 6 Closing a business (rank) 50Difficulty of firing index (0-100) 10 Ease of shareholder suits index (0-10) 5 Time (years) 2.6Rigidity of employment index (0-100) 24 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 38Firing cost (weeks of salary) 56 Recovery rate (cents on the dollar) 41.2Paying taxes (rank) 20Payments (number per year) 31Time (hours per year) 120Total tax rate (% of profit) 8.4VENEZUELA Latin America & Caribbean GNI per capita (US$) 7,320Ease of doing business (rank) 174 Upper middle income Population (m) 27.5Starting a business (rank) 142 Registering property (rank) 92 Trading across borders (rank) 164Procedures (number) 16 Procedures (number) 8 Documents to export (number) 8Time (days) 141 Time (days) 47 Time to export (days) 49Cost (% of income per capita) 26.8 Cost (% of property value) 2.2 Cost to export (US$ per container) 2,590Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 163 Time to import (days) 71Dealing with construction permits (rank) 96 Strength of legal rights index (0-10) 3 Cost to import (US$ per container) 2,868Procedures (number) 11 Depth of credit information index (0-6) 0Time (days) 395 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 71Cost (% of income per capita) 344.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 29Time (days) 510Employing workers (rank) 180 Protecting investors (rank) 170 Cost (% of claim) 43.7Difficulty of hiring index (0-100) 78 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 3 Closing a business (rank) 149Difficulty of firing index (0-100) 100 Ease of shareholder suits index (0-10) 2 Time (years) 4.0Rigidity of employment index (0-100) 79 Strength of investor protection index (0-10) 2.7 Cost (% of estate) 38Firing cost (weeks of salary) not possible Recovery rate (cents on the dollar) 6.0Paying taxes (rank) 177Payments (number per year) 70Time (hours per year) 864Total tax rate (% of profit) 56.6VIETNAM East Asia & Pacific GNI per capita (US$) 790Ease of doing business (rank) 92 Low income Population (m) 85.1Starting a business (rank) 108 Registering property (rank) 37 Trading across borders (rank) 67Procedures (number) 11 Procedures (number) 4 Documents to export (number) 6Time (days) 50 Time (days) 57 Time to export (days) 24Cost (% of income per capita) 16.8 Cost (% of property value) 1.2 Cost to export (US$ per container) 734Minimum capital (% of income per capita) 0.0 Documents to import (number) 8Getting credit (rank) 43 Time to import (days) 23Dealing with construction permits (rank) 67 Strength of legal rights index (0-10) 7 Cost to import (US$ per container) 901Procedures (number) 13 Depth of credit information index (0-6) 4Time (days) 194 Public registry coverage (% of adults) 13.4 Enforcing contracts (rank) 42Cost (% of income per capita) 313.3 Private bureau coverage (% of adults) 0.0 Procedures (number) 34Time (days) 295Employing workers (rank) 90 Protecting investors (rank) 170 Cost (% of claim) 31.0Difficulty of hiring index (0-100) 11 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 20 Extent of director liability index (0-10) 0 Closing a business (rank) 124Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 2 Time (years) 5.0Rigidity of employment index (0-100) 24 Strength of investor protection index (0-10) 2.7 Cost (% of estate) 15Firing cost (weeks of salary) 87 Recovery rate (cents on the dollar) 18.0Paying taxes (rank) 140Payments (number per year) 32Time (hours per year) 1,050Total tax rate (% of profit) 40.1(c) The International Bank for Reconstruction and Development / The World Bank

country tables 145WEST BANK AND GAZA Middle East & North Africa GNI per capita (US$) 1,230Ease of doing business (rank) 131 Lower middle income Population (m) 3.9Starting a business (rank) 166 Registering property (rank) 80 Trading across borders (rank) 85Procedures (number) 11 Procedures (number) 7 Documents to export (number) 6Time (days) 49 Time (days) 63 Time to export (days) 25Cost (% of income per capita) 69.1 Cost (% of property value) 0.9 Cost to export (US$ per container) 835Minimum capital (% of income per capita) 56.1 Documents to import (number) 6Getting credit (rank) 163 Time to import (days) 40Dealing with construction permits (rank) 149 Strength of legal rights index (0-10) 0 Cost to import (US$ per container) 1,225Procedures (number) 21 Depth of credit information index (0-6) 3Time (days) 199 Public registry coverage (% of adults) 7.8 Enforcing contracts (rank) 122Cost (% of income per capita) 1,399.9 Private bureau coverage (% of adults) 0.0 Procedures (number) 44Time (days) 700Employing workers (rank) 109 Protecting investors (rank) 38 Cost (% of claim) 21.2Difficulty of hiring index (0-100) 33 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 5 Closing a business (rank) 181Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 7 Time (years) No practiceRigidity of employment index (0-100) 31 Strength of investor protection index (0-10) 6.0 Cost (% of estate) No practiceFiring cost (weeks of salary) 91 Recovery rate (cents on the dollar) 0.0Paying taxes (rank) 25Payments (number per year) 27Time (hours per year) 154Total tax rate (% of profit) 16.8YEMEN Middle East & North Africa GNI per capita (US$) 870Ease of doing business (rank) 98 Low income Population (m) 22.4Starting a business (rank) 50 Registering property (rank) 48 Trading across borders (rank) 126Procedures (number) 7 Procedures (number) 6 Documents to export (number) 6Time (days) 13 Time (days) 19 Time to export (days) 31Cost (% of income per capita) 93.0 Cost (% of property value) 3.8 Cost to export (US$ per container) 1,129Minimum capital (% of income per capita) 0.0 Documents to import (number) 9Getting credit (rank) 172 Time to import (days) 28Dealing with construction permits (rank) 33 Strength of legal rights index (0-10) 2 Cost to import (US$ per container) 1,475Procedures (number) 13 Depth of credit information index (0-6) 0Time (days) 107 Public registry coverage (% of adults) 0.1 Enforcing contracts (rank) 41Cost (% of income per capita) 189.7 Private bureau coverage (% of adults) 0.0 Procedures (number) 37Time (days) 520Employing workers (rank) 69 Protecting investors (rank) 126 Cost (% of claim) 16.5Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 6Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 4 Closing a business (rank) 87Difficulty of firing index (0-100) 40 Ease of shareholder suits index (0-10) 2 Time (years) 3.0Rigidity of employment index (0-100) 33 Strength of investor protection index (0-10) 4.0 Cost (% of estate) 8Firing cost (weeks of salary) 17 Recovery rate (cents on the dollar) 28.6Paying taxes (rank) 138Payments (number per year) 44Time (hours per year) 248Total tax rate (% of profit) 47.8ZAMBIA Sub-Saharan Africa GNI per capita (US$) 800Ease of doing business (rank) 100 Low income Population (m) 11.9Starting a business (rank) 71 Registering property (rank) 91 Trading across borders (rank) 153Procedures (number) 6 Procedures (number) 6 Documents to export (number) 6Time (days) 18 Time (days) 39 Time to export (days) 53Cost (% of income per capita) 28.6 Cost (% of property value) 6.6 Cost to export (US$ per container) 2,664Minimum capital (% of income per capita) 1.5 Documents to import (number) 9Getting credit (rank) 68 Time to import (days) 64Dealing with construction permits (rank) 146 Strength of legal rights index (0-10) 9 Cost to import (US$ per container) 3,335Procedures (number) 17 Depth of credit information index (0-6) 0Time (days) 254 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 87Cost (% of income per capita) 1,023.1 Private bureau coverage (% of adults) 0.1 Procedures (number) 35Time (days) 471Employing workers (rank) 135 Protecting investors (rank) 70 Cost (% of claim) 38.7Difficulty of hiring index (0-100) 22 Extent of disclosure index (0-10) 3Rigidity of hours index (0-100) 60 Extent of director liability index (0-10) 6 Closing a business (rank) 80Difficulty of firing index (0-100) 20 Ease of shareholder suits index (0-10) 7 Time (years) 2.7Rigidity of employment index (0-100) 34 Strength of investor protection index (0-10) 5.3 Cost (% of estate) 9Firing cost (weeks of salary) 178 Recovery rate (cents on the dollar) 30.2Paying taxes (rank) 38Payments (number per year) 37Time (hours per year) 132Total tax rate (% of profit) 16.1(c) The International Bank for Reconstruction and Development / The World Bank

146 Doing Business 2009ZIMBABWE Sub-Saharan Africa GNI per capita (US$) 325Ease of doing business (rank) 158 Low income Population (m) 13.4Starting a business (rank) 164 Registering property (rank) 85 Trading across borders (rank) 162Procedures (number) 10 Procedures (number) 4 Documents to export (number) 7Time (days) 96 Time (days) 30 Time to export (days) 53Cost (% of income per capita) 432.7 Cost (% of property value) 25.0 Cost to export (US$ per container) 2,678Minimum capital (% of income per capita) 3.4 Documents to import (number) 9Getting credit (rank) 84 Time to import (days) 73Dealing with construction permits (rank) 174 Strength of legal rights index (0-10) 8 Cost to import (US$ per container) 3,999Procedures (number) 19 Depth of credit information index (0-6) 0Time (days) 1,426 Public registry coverage (% of adults) 0.0 Enforcing contracts (rank) 77Cost (% of income per capita) 16,368.8 Private bureau coverage (% of adults) 0.0 Procedures (number) 38Time (days) 410Employing workers (rank) 127 Protecting investors (rank) 113 Cost (% of claim) 32.0Difficulty of hiring index (0-100) 0 Extent of disclosure index (0-10) 8Rigidity of hours index (0-100) 40 Extent of director liability index (0-10) 1 Closing a business (rank) 154Difficulty of firing index (0-100) 60 Ease of shareholder suits index (0-10) 4 Time (years) 3.3Rigidity of employment index (0-100) 33 Strength of investor protection index (0-10) 4.3 Cost (% of estate) 22Firing cost (weeks of salary) 446 Recovery rate (cents on the dollar) 0.1Paying taxes (rank) 157Payments (number per year) 52Time (hours per year) 256Total tax rate (% of profit) 63.7(c) The International Bank for Reconstruction and Development / The World Bank

ILO CORE LABOR STANDARDS 147Ratification status of the ILO core labor standards3 Convention ratifiedn Convention not ratifiedD Ratification denouncedEconomyFreedom ofassociation andcollective bargainingConvention87Convention98Elimination of forcedand compulsory labourConvention29Convention105Elimination of discriminationin respect of employment andoccupationConvention100Convention111Abolition ofchild labourConvention138Afghanistan n n n 3 3 3 n nAlbania 3 3 3 3 3 3 3 3Algeria 3 3 3 3 3 3 3 3Angola 3 3 ✓ 3 3 3 3 3Antigua and Barbuda 3 3 3 3 3 3 3 3Argentina 3 3 3 3 3 3 3 3Armenia 3 3 3 3 3 3 3 3Australia 3 3 3 3 3 3 n 3Austria 3 3 3 3 3 3 3 3Azerbaijan 3 3 3 3 3 3 3 3Bahamas, The 3 3 3 3 3 3 3 3Bahrain n n 3 3 n 3 n 3Bangladesh 3 3 3 3 3 3 n 3Belarus 3 3 3 3 3 3 3 3Belgium 3 3 3 3 3 3 3 3Belize 3 3 3 3 3 3 3 3Benin 3 3 3 3 3 3 3 3Bhutan n n n n n n n nBolivia 3 3 3 3 3 3 3 3Bosnia and Herzegovina 3 3 3 3 3 3 3 3Botswana 3 3 3 3 3 3 3 3Brazil n 3 3 3 3 3 3 3Brunei n n n n n n n 3Bulgaria 3 3 3 3 3 3 3 3Burkina Faso 3 3 3 3 3 3 3 3Burundi 3 3 3 3 3 3 3 3Cambodia 3 3 3 3 3 3 3 3Cameroon 3 3 3 3 3 3 3 3Canada 3 n n 3 3 3 n 3Cape Verde 3 3 3 3 3 3 n 3Central African Republic 3 3 3 3 3 3 3 3Chad 3 3 3 3 3 3 3 3Chile 3 3 3 3 3 3 3 3China n n n n 3 3 3 3Colombia 3 3 3 3 3 3 3 3Comoros 3 3 3 3 3 3 3 3Congo, Dem. Rep. 3 3 3 3 3 3 3 3Congo, Rep. 3 3 3 3 3 3 3 3Costa Rica 3 3 3 3 3 3 3 3Côte d’Ivoire 3 3 3 3 3 3 3 3Croatia 3 3 3 3 3 3 3 3Czech Republic 3 3 3 3 3 3 3 3Denmark 3 3 3 3 3 3 3 3Djibouti 3 3 3 3 3 3 3 3Dominica 3 3 3 3 3 3 3 3Dominican Republic 3 3 3 3 3 3 3 3Ecuador 3 3 3 3 3 3 3 3Egypt 3 3 3 3 3 3 3 3El Salvador 3 3 3 3 3 3 3 3Convention182(c) The International Bank for Reconstruction and Development / The World Bank

148 Doing Business 2009Ratification status of the ILO core labor standards3 Convention ratifiedn Convention not ratifiedD Ratification denouncedEconomyFreedom ofassociation andcollective bargainingConvention87Convention98Elimination of forcedand compulsory labourConvention29Convention105Elimination of discriminationin respect of employment andoccupationConvention100Convention111Abolition ofchild labourConvention138Equatorial Guinea 3 3 3 3 3 3 3 3Eritrea 3 3 3 3 3 3 3 nEstonia 3 3 3 3 3 3 3 3Ethiopia 3 3 3 3 3 3 3 3Fiji 3 3 3 3 3 3 3 3Finland 3 3 3 3 3 3 3 3France 3 3 3 3 3 3 3 3Gabon 3 3 3 3 3 3 n 3Gambia, The 3 3 3 3 3 3 3 3Georgia 3 3 3 3 3 3 3 3Germany 3 3 3 3 3 3 3 3Ghana 3 3 3 3 3 3 n 3Greece 3 3 3 3 3 3 3 3Grenada 3 3 3 3 3 3 3 3Guatemala 3 3 3 3 3 3 3 3Guinea 3 3 3 3 3 3 3 3Guinea-Bissau n 3 3 3 3 3 n nGuyana 3 3 3 3 3 3 3 3Haiti 3 3 3 3 3 3 n 3Honduras 3 3 3 3 3 3 3 3Hong Kong, China a — — — — — — — —Hungary 3 3 3 3 3 3 3 3Iceland 3 3 3 3 3 3 3 3India n n 3 3 3 3 n nIndonesia 3 3 3 3 3 3 3 3Iran n n 3 3 3 3 n 3Iraq n 3 3 3 3 3 3 3Ireland 3 3 3 3 3 3 3 3Israel 3 3 3 3 3 3 3 3Italy 3 3 3 3 3 3 3 3Jamaica 3 3 3 3 3 3 3 3Japan 3 3 3 n 3 n 3 3Jordan n 3 3 3 3 3 3 3Kazakhstan 3 3 3 3 3 3 3 3Kenya n 3 3 3 3 3 3 3Kiribati 3 3 3 3 n n n nKorea n n n n 3 3 3 3Kuwait 3 3 3 3 n 3 3 3Kyrgyz Republic 3 3 3 3 3 3 3 3Lao PDR n n 3 n 3 3 3 3Latvia 3 3 3 3 3 3 3 3Lebanon n 3 3 3 3 3 3 3Lesotho 3 3 3 3 3 3 3 3Liberia 3 3 3 3 n 3 n 3Lithuania 3 3 3 3 3 3 3 3Luxembourg 3 3 3 3 3 3 3 3Macedonia, former Yugoslav Republic of 3 3 3 3 3 3 3 3Madagascar 3 3 3 3 3 3 3 3Malawi 3 3 3 3 3 3 3 3Convention182(c) The International Bank for Reconstruction and Development / The World Bank

ilo CORE LABOR STANDARDS 149Ratification status of the ILO core labor standards3 Convention ratifiedFreedom ofn Convention not ratifiedassociation andD Ratification denouncedcollective bargainingEconomyConvention87Convention98Elimination of forcedand compulsory labourConvention29Convention105Elimination of discriminationin respect of employment andoccupationConvention100Convention111Abolition ofchild labourConvention138Malaysia n 3 3 D 3 n 3 3Maldives n n n n n n n nMali 3 3 3 3 3 3 3 3Marshall Islands n n n n n n n nMauritania 3 3 3 3 3 3 3 3Mauritius 3 3 3 3 3 3 3 3Mexico 3 n 3 3 3 3 n 3Micronesia n n n n n n n nMoldova 3 3 3 3 3 3 3 3Mongolia 3 3 3 3 3 3 3 3Montenegro 3 3 3 3 3 3 3 3Morocco n 3 3 3 3 3 3 3Mozambique 3 3 3 3 3 3 3 3Namibia 3 3 3 3 n 3 3 3Nepal n 3 3 3 3 3 3 3Netherlands 3 3 3 3 3 3 3 3New Zealand n 3 3 3 3 3 n 3Nicaragua 3 3 3 3 3 3 3 3Niger 3 3 3 3 3 3 3 3Nigeria 3 3 3 3 3 3 3 3Norway 3 3 3 3 3 3 3 3Oman n n 3 3 n n 3 3Pakistan 3 3 3 3 3 3 3 3Palau n n n n n n n nPanama 3 3 3 3 3 3 3 3Papua New Guinea 3 3 3 3 3 3 3 3Paraguay 3 3 3 3 3 3 3 3Peru 3 3 3 3 3 3 3 3Philippines 3 3 3 3 3 3 3 3Poland 3 3 3 3 3 3 3 3Portugal 3 3 3 3 3 3 3 3Puerto Rico a — — — — — — — —Qatar n n 3 3 n 3 3 3Romania 3 3 3 3 3 3 3 3Russian Federation 3 3 3 3 3 3 3 3Rwanda 3 3 3 3 3 3 3 3Samoa 3 3 3 3 3 3 n 3São Tomé and Principe 3 3 3 3 3 3 3 3Saudi Arabia n n 3 3 3 3 n 3Senegal 3 3 3 3 3 3 3 3Serbia 3 3 3 3 3 3 3 3Seychelles 3 3 3 3 3 3 3 3Sierra Leone 3 3 3 3 3 3 n nSingapore n 3 3 D 3 n 3 3Slovakia 3 3 3 3 3 3 3 3Slovenia 3 3 3 3 3 3 3 3Solomon Islands n n 3 n n n n nSouth Africa 3 3 3 3 3 3 3 3Spain 3 3 3 3 3 3 3 3Sri Lanka 3 3 3 3 3 3 3 3Convention182(c) The International Bank for Reconstruction and Development / The World Bank

150 Doing Business 2009Ratification status of the ILO core labor standards4 Convention ratifiedFreedom ofn Convention not ratifiedassociation andD Ratification denouncedcollective bargainingEconomyConvention87Convention98Elimination of forcedand compulsory labourConvention29Convention105Elimination of discriminationin respect of employment andoccupationConvention100Convention111Abolition ofchild labourConvention138St. Kitts and Nevis 3 3 3 3 3 3 3 3St. Lucia 3 3 3 3 3 3 n 3St. Vincent and the Grenadines 3 3 3 3 3 3 3 3Sudan n 3 3 3 3 3 3 3Suriname 3 3 3 3 n n n 3Swaziland 3 3 3 3 3 3 3 3Sweden 3 3 3 3 3 3 3 3Switzerland 3 3 3 3 3 3 3 3Syria 3 3 3 3 3 3 3 3Taiwan, China a — — — — — — — —Tajikistan 3 3 3 3 3 3 3 3Tanzania 3 3 3 3 3 3 3 3Thailand n n 3 3 3 n 3 3Timor-Leste n n n n n n n nTogo 3 3 3 3 3 3 3 3Tonga n n n n n n n nTrinidad and Tobago 3 3 3 3 3 3 3 3Tunisia 3 3 3 3 3 3 3 3Turkey 3 3 3 3 3 3 3 3Uganda 3 3 3 3 3 3 3 3Ukraine 3 3 3 3 3 3 3 3United Arab Emirates n n 3 3 3 3 3 3United Kingdom 3 3 3 3 3 3 3 3United States n n n 3 n n n 3Uruguay 3 3 3 3 3 3 3 3Uzbekistan n 3 3 3 3 3 n 3Vanuatu 3 3 3 3 3 3 n 3Venezuela 3 3 3 3 3 3 3 3Vietnam n n 3 n 3 3 3 3West Bank and Gaza n n n n n n n nYemen 3 3 3 3 3 3 3 3Zambia 3 3 3 3 3 3 3 3Zimbabwe 3 3 3 3 3 3 3 3Convention182Note: The table shows the ratification status of the 8 ILO conventions regarding core labor standards for the 181 economies included in Doing Business2009 as of July 28, 2008. The ratification of these conventions is not included in the Doing Business employing workers indicators. Nor does Doing Businessmeasure compliance with the core labor standards. Doing Business will conduct further analysis on compliance with these standards in the coming years.One issue to be further explored concerns the relationship between national law and the ILO conventions. In some cases, for example, national law may gobeyond what is required in some of the ILO conventions and may not allow ratification for this reason. And in some cases where the ILO conventions havebeen ratified, national law may be in contradiction with some of the ILO conventions and may specifically give priority to the national over the internationalprovisions.a. Hong Kong (China), Puerto Rico and Taiwan (China) are not independent members of the ILO.Source: ILO, ILOLEX database (http://www.ilo.org/ilolex/).(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgmentsease of doing business 151Doing Business 2009 was prepared by ateam led by Sylvia Solf, Simeon Djankov(through March 2008) and PenelopeBrook (from April 2008) under the generaldirection of Michael Klein. The teamcomprised Teymour Abdel Aziz, SvetlanaBagaudinova, Karim O. Belayachi, MemaBeye, Frederic Bustelo, César ChaparroYedro, Maya Choueiri, Roger Coma-Cunill, Santiago Croci Downes, Marie Delion,Allen Dennis, Jacqueline den Otter,Alejandro Espinosa-Wang, Monica FonsecaFernandez, Kjartan Fjeldsted, ElenaGasol Ramos, Carolin Geginat, CemileHacibeyoglu, Jamal Haidar, Sabine Hertveldt,Palarp Jumpasut, Dahlia Khalifa,Jean Michel Lobet, Oliver Lorenz, ValerieMarechal, Andres Martinez, AlexandraMincu, Sushmitha Narsiah, Joanna Nasr,Dana Omran, Caroline Otonglo, NadiaRam, Rita Ramalho, Camille Ramos,Ivana Rossi, Yara Salem, Pilar Salgado-Otónel, Umar Shavurov, Larisa Smirnova,Jayashree Srinivasan, Susanne Szymanski,Tea Trumbic, Caroline van Coppenolle,Bryan Welsh, Justin Yap and Lior Ziv. JanBezem, Sonali Bishop, Tara Sabre Collier,Sarah Iqbal, Alice Ouedraogo, BabacarSedikh Faye and Jennifer Yip assisted inthe months prior to publication.Oliver Hart and Andrei Shleifer providedacademic advice on the project.The paying taxes project was conductedin collaboration with Pricewaterhouse​-Coopers, led by Robert Morris.Alison Strong copyedited the manuscript.Gerry Quinn designed the reportand the graphs. Kim Bieler assisted in thetypesetting. Alexandra Quinn provideddesktopping services. The online serviceof the Doing Business database is managedby Ramin Aliyev, Felipe IturraldeEscudero and Graeme Littler under thedirection of Suzanne Smith.We are grateful for valuable commentsprovided by colleagues across the WorldBank Group and for the guidance of WorldBank Group Executive Directors.The report was made possible bythe generous contribution of more than6,700 lawyers, accountants, judges, businesspeopleand public officials in 181economies. Global and regional contributorsare firms that have completedmultiple surveys in their various officesaround the world.Quotations in this report arefrom Doing Business local partners unlessotherwise indicated. The names ofthose wishing to be acknowledged individuallyare listed on the followingpages. Contact details are posted on theDoing Business website at http://www.doingbusiness.org.Contact details for local partnersare available on theDoing Business website athttp://www.doingbusiness.org(c) The International Bank for Reconstruction and Development / The World Bank

152 Doing Business 2009GLOBAL CONTRIBUTORSAllen & Overy LLPAPL LtdBaker & McKenzieCleary Gottlieb Steen & Hamilton LLPHawkamah – The Institute for Corporate GovernanceIus Laboris, Alliance of Labor, Employment, Benefits andPensions Law FirmsLawyers without BordersLex Mundi, Association of Independent Law FirmsPricewaterhouseCoopersPricewaterhouseCoopers Legal ServicesSDV International LogisticsThe Adora Group Ltd (Freightnet)Toboc Inc.REGIONAL CONTRIBUTORSAbu-Ghazaleh LegalEast Africa Law SocietyFederación Interamericana de la Industria de laConstrucciónGarcia & BodanGlobalink Transportation & Logistics Worldwide LLPIKRP Rokas & PartnersM&M LogisticsTransUnion InternationalUniversity of South PacificAfghanistanNajibullah AmiriAfghanistan BanksAssociationBearingPointBahauddin BahaSupreme CourtA. Farid BarakzaiTNT International ExpressAmanda GaltonOrrick, Herrington &SutcliffeShahzad HaiderAfghanistan InternationalBankMuslimul HaqAfghanistan BanksAssociationAbdul Wassay HaqiqiHaqiqi Legal ServicesSaduddin HaziqAfghanistan InternationalBankRashid IbrahimA.F. Ferguson & Co.Yasin KhostiSociety of AfghanArchitects and EngineersGaurav Lekh Raj KukrejaAfghan ContainerTransport CompanyZahoor MallaGlobalink Logistics GroupT. Ud-Din A. MirzaA.F. Ferguson & Co.Kevin O’BrienUSAID/Bearing PointHabibullah PeerzadaACCL InternationalAbdul Rahman WatanwalMBC ConstructionAlbaniaErjola AliajIKRP Rokas & PartnersArtur AsllaniTonucci & PartnersLedia BeçiHoxha, Memi & HoxhaIlir BejleriSon Group, Engineeringand ConstructionJona BicaKalo & AssociatesRene BijvoetPricewaterhouseCoopersAlban CaushiKalo & AssociatesDorian CollakuBank of AlbaniaIlir DaciKalo & AssociatesBesnik DurajHoxha, Memi & HoxhaSokol ElmazajBoga & AssociatesValbona GjonçariBoga & AssociatesJola GjuziKalo & AssociatesVilma GjyshiKalo & AssociatesAnteo GremiZig Consulting FirmEmel HaxhillariKalo & AssociatesShpati HoxhaHoxha, Memi & HoxhaErald IbroZig Consulting FirmOlsi IbroZig Consulting FirmIlir JohollariHoxha, Memi & HoxhaPerparim KaloKalo & AssociatesRenata LekaBoga & AssociatesGeorgios K. LemonisIKRP Rokas & PartnersElton LulaKalo & AssociatesAndi MemiHoxha, Memi & HoxhaLoreta PeciPricewaterhouseCoopersErmira PerviziIKRP Rokas & PartnersLaura QorlazePricewaterhouseCoopersMiranda RamajjBank of AlbaniaArdjana ShehiKalo & AssociatesShpresa DElda ShurajaHoxha, Memi & HoxhaSky Net AlbaniaGerhard VelajBoga & AssociatesSilva VelajBoga & AssociatesAgim VërshevciAlimenti Naturali & PBElda ZaimiZig Consulting FirmAlgeriaBranka Achari-DjokicBanque d’AlgérieSalima AlouiLaw Firm Goussanem &AlouiHadda AmmaraBouchaib Law FirmKhodja BachirSNC Khodja & Co.Hassan Djamel BelloulaCabinet BelloulaTayeb BelloulaCabinet BelloulaAdnane BouchaibBouchaib Law firmFatma Zohra BouchemlaAttorney-at-LawJean-Pierre ComunaleSDVArezki DjadourGide Loyrette Nouel,member of Lex MundiAsmaa El OuazzaniLandwell & Associés -PricewaterhouseCoopersLegal ServicesMalik ElkettasElkettas InternationalBrahim EmbouazzaMCDConsultingMohamed Lehbib GoubiBanque d’AlgérieKhaled GoussanemLaw Firm Goussanem &AlouiSamir HamoudaCabinet d’Avocats SamirHamoudaSamy LaghouatiGide Loyrette Nouel,member of Lex MundiNadia LarbaouiBouchaib Law FirmKarine LasneLandwell & Associés -PricewaterhouseCoopersLegal ServicesMichel LecerfLandwell & Associés -PricewaterhouseCoopersLegal ServicesAdnane MeradEtude de Me KaddourMeradNarimane NaasGide Loyrette Nouel,member of Lex MundiFériel OulounisCabinet d’Avocats SamirHamoudaMaya SatorCabinet SatorMohamed SatorCabinet SatorMarc VeuillotAlleance advisory MarocTarik ZahzahGhellal & MekerbaNabiha ZeriguiCabinet d’Avocats SamirHamoudaAngolaJosé Rodrigues AlentejoCâmara de Comércio eIndústria de AngolaFernando BarrosPricewaterhouseCoopersAlain BrachetSDV AMI InternationalLogisticsPedro CalixtoPricewaterhouseCoopersOlainde CamacheAVM AdvogadosMaurice CampbellCrown AgentsCaetano CapitãoCentro de ApoioEmpresarial- CAENahary CardosoFátima Freitas AdvogadosConservatória do RegistroPredial de Luanda (1ªSecção)Esperança CostaAlexandre Pegado -Escritório de AdvogadosJoão Viegas de AbreuConsulanaMiguel de Avillez PereiraAbreu AdvogadosFrancisca de OliveiraAssociacão de MulheresEmpresarias da Provínciade Luanda (ASSOMEL)Fernando F. BastosFaria de Bastos, Sebastiãoe Lopes - AdvogadosAssociadosAna FernandesPricewaterhouseCoopersLourdes Caposso FernandesRCJE AdvogadosAssociadosConceição Manita FerreiraRui C. Ferreira &Guilhermina PrataLuís FolhadelaKPMGFátima FreitasFátima Freitas AdvogadosBrian GlazierEDI architecture Inc.Adelaide GodinhoAG & LPRaul GomesATS Logistics Co.Blake HinderyckxCAE/CDCHelder da Conceição JoséInstituto de Planeamentoe Gestão Urbana doGoverno Provincial deLuandaVictor LeonelOrdem dos ArquitectosGuiomar LopesFaria de Bastos, Sebastiãoe Lopes - AdvogadosAssociadosPaulette LopesFaria de Bastos, Sebastiãoe Lopes - AdvogadosAssociadosTeresinha LopesFaria de Bastos, Sebastiãoe Lopes - AdvogadosAssociadosChindalena LourencoFátima Freitas AdvogadosManuel MalufueneOrdem dos ArquitectosUlanga Gaspar MartinsBanco Privado AtlânticoJosephine MatamboKPMGFilomeno Henrique C.Mendonça da SilvaMinisterio DosTransportesManuel Nazareth NetoPorto de LuandaEduardo PaivaPricewaterhouseCoopersMário A. PalharesBanco de NegóciosInternacionalAlexandre PegadoAlexandre Pegado -Escritório de Advogados(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 153Jorge Leão PeresBanco NacionalDouglas PillingerPanalpinaLuis Filipe PizarroAG & LPLaurinda PrazeresFaria de Bastos, Sebastiãoe Lopes - AdvogadosAssociadosElisa Rangel NunesERN AdvogadosVíctor Anjos SantosAVM AdvogadosGuilherme Santos SilvaAbreu AdvogadosIsabel SerrãoKPMGMaikel SteveLuanda Incubadora deEmpresasBento TatiGuiché Único de EmpresaN’Gunu TinyRCJE Advogados AsociadosIsabel TormentaGuiché Único de EmpresaAntigua andBarbudaMitzie BockleyRegistrar, IntellectualProperty and CommerceOffice, Ministry of JusticeRhodette F.C. BrownPhillips, Phillips &ArchibaldEverett ChristianABI Bank Ltd.Neil CoatesPricewaterhouseCoopersBrian D’OrnellasOBM International,Antigua Ltd.Vernon EdwardsFreight Forwarding &DeconsolidatingPhillip Jr. IsaacsOBM International,Antigua Ltd.Alfred McKelly JamesJames & AssociatesEfrain LaureanoCaribbean Open TradeSupport (USAID)Gloria MartinFrancis Trading AgencyLimitedMarscha PrincePricewaterhouseCoopersSeptimus A. RhuddRhudd & AssociatesStacy A. Richards-AnjoRichards & Co.Alice N. RobertsRoberts & Co.Clare K. RobertsRoberts & Co.Carl SamuelAntigua Public UtilityAuthorityCassandra SimmonsArthur ThomasThomas, John & Co.Charles WalwynPricewaterhouseCoopersMarietta WarrenInterfreight Ltd.Hesketh WilliamsMinistry of LaborRoslyn YearwoodIntegrity CommissionAntigua & BarbudaArgentinaDolores AispuruPricewaterhouseCoopersLisandro A. AllendeBrons & Salas AbogadosAna Candelaria Alonso NegreAlfaro AbogadosVanesa BaldaVitale, Manoff &FeilbogenGonzalo Carlos BallesterJ.P. O’Farrell AbogadosIgnacio Fernández BorzeseTWR AbogadosAgustina CarattiPricewaterhouseCoopersMariano Ezequiel CarricartFornieles AbogadosGustavo CasirQuattrini, Laprida &AsociadosPablo L. CavallaroEstudio CavallaroAbogadosAlbert ChamorroAlfaro AbogadosJulian A. ColladosAccountantHernán Gonzalo CuencaMartínezPricewaterhouseCoopersLegal ServicesOscar Alberto del RíoCentral BankAndrés EdelsteinPricewaterhouseCoopersJoaquín EppensMurray, Díaz Cordero &Sirito de ZavalíaDiego EtcheparePricewaterhouseCoopersFernando FucciGrant ThortonIgnacio Funes de RiojaFunes de Rioja & Asociados,member of Ius LaborisClaudia GizziGPMMaría Laura GonzálezPricewaterhouseCoopersPablo González del SolarPricewaterhouseCoopersPablo Grillo CiocchiniBrons & Salas AbogadosFabián HilalCampos, Etcheverry &AsociadosWalter KeinigerMarval, O’Farrell &Mairal, member of LexMundiSantiago LaclauMarval, O’Farrell &Mairal, member of LexMundiGuillermo LalanneEstudio O’FarrellRodrigo MarchanGPMAgustín MarraAlfaro AbogadosPablo MastromarinoEstudio Beccar VarelaJosé Oscar MiraCentral BankJorge MirandaClippers S.A.Enrique MonsegurClippers S.A.Miguel P. MurrayMurray, Díaz Cordero &Sirito de ZavalíaIsabel MuscoloQuattrini, Laprida &AsociadosAlfredo Miguel O’FarrellMarval, O’Farrell &Mairal, member of LexMundiMariano PayaslianGPMMaría Ximena Pérez DirroccoMarval, O’Farrell &Mairal, member of LexMundiJulio Alberto PueyrredonPricewaterhouseCoopersPablo RamosComercial del OesteSebastián RodrigoAlfaro AbogadosIgnacio RodriguezPricewaterhouseCoopersNicolás Rossi BungeMarval, O’Farrell &Mairal, member of LexMundiAdolfo RouillonThe World BankPatricia Ruhman SeggiaroMarval, O’Farrell &Mairal, member of LexMundiSonia SalvatierraMarval, O’Farrell &Mairal, member of LexMundiJorge Sanchez DiazEcobamboo S.A.Liliana Cecilia SegadeQuattrini, Laprida &AsociadosMiguel TesonEstudio O’FarrellEduardo J. ViñalesFunes de Rioja & Asociados,member of Ius LaborisJoaquín Emilio ZappaJ.P. O’Farrell AbogadosOctavio Miguel ZenarruzaÁlvarez Prado & AsociadosCarlos ZimaPricewaterhouseCoopersArmeniaArtak ArzoyanACRA Credit BureauVardan BezhanyanYerevan State UniversityGevorg ChakmishyanPricewaterhouseCoopersAikanush EdigaryanTrans-AllianceCourtney FowlerPricewaterhouseCoopersGagik GalstyanHorizon 95Hayk GhazazyanKPMGMher GrigoryanVTB BankSargis H. MartirosyanTrans-AllianceDavit HarutyunyanPricewaterhouseCoopersVahe KakoyanInvestment Law Group LLCKarine KhachatryanBearingPointRajiv NagriGlobalink Logistics GroupArtur NikoyanTrans-AllianceMikayel PashayanThe State Committeeof the Real PropertyCadastreAlex PoghossianAlpha Plus ConsultingAram PoghosyanGrant Thornton AmyotDavid SargsyanAmeria cjscGayane ShimshiryanCentral BankHakob TadevosyanGrant Thornton AmyotMatthew TallarovicPricewaterhouseCoopersArmen Ter-TachatyanTer-Tachatyan Legal andBusiness ConsultingArtur TunyanJudicial Reform ProjectAustraliaLucy AdamsonClayton Utz, member ofLex MundiMatthew AllisonVeda AdvantageLynda BrummPricewaterhouseCoopersDavid BudaRBHM Commercial LawyersAlicia CastilloAlicia Castillo WealthingGroupCaterina CavallaroBaker & McKenzieJoe CollinsClayton Utz, member ofLex MundiMarcus ConnorChang, Pistilli & SimmonsTim CoxPricewaterhouseCoopersMichael DanielPricewaterhouseCoopersAnne DavisClayton Utz, member ofLex MundiJenny DavisEnergyAustraliaRaymond FangGadens LawyersBrett FelthamPricewaterhouseCoopersJoan FitzhenryBaker & McKenzieMark GenialeOffice of State Revenue,NSW TreasuryMark GrdovichBlake DawsonOwen HayfordClayton Utz, member ofLex MundiDavid HingPricewaterhouseCoopersIan HumphreysBlake DawsonEric IpOnward BusinessConsultants PTY LTDDoug JonesClayton Utz, member ofLex MundiMorgan KellyFerrier HodgsonMark KingstonTradesafe Australia Pty.Ltd.Ricky LeePricewaterhouseCoopersLegal ServicesJohn LobbanBlake DawsonJohn MartinThomson PlayfordMitchell MathasDeaconsNick MavrakisClayton Utz, member ofLex MundiChristie McGregorPricewaterhouseCoopersMark PistilliChang, Pistilli & SimmonsAnn PreviteraPricewaterhouseCoopersJohn ReidOffice of State Revenue,NSW TreasuryBob RonaiImport-Export ServicesPty. Ltd.Luke SayersPricewaterhouseCoopersDamian SturzakerGadens Lawyers(c) The International Bank for Reconstruction and Development / The World Bank

154 Doing Business 2009Mark SwanPricewaterhouseCoopersLegal ServicesNick ThomasClayton Utz, member ofLex MundiSimon TruskettClayton Utz, member ofLex MundiDavid TwiggEnergyAustraliaMegan Valsinger-ClarkGadens LawyersAndrew WheelerPricewaterhouseCoopersDavid ZwiThomson PlayfordAustriaThomas BarederOeNBGeorg BrandstetterBrandstetter Pritz &PartnerMartin Eckele|n|w|c NatlacenWalderdorff CancolaRechtsanwälte GmbHTibor FabianBinder GrösswangRechtsanwälteJulian FeichtingerCerha Hempel SpiegelfeldHlawatiAndreas HableBinder GrösswangRechtsanwälteRudolf KaindlKoehler, Kaindl, Duerr& Partner, Civil LawNotariesSusanne KappelKunz Schima WallentinRechtsanwälte KEG,member of Ius LaborisKraus & CoWarenhandelsgesellschaftmbHFlorian KremslehnerDorda Brugger JordisRudolf KricklPricewaterhouseCoopersUlrike LangwallnerSchönherr RechtsanwälteGmbH / Attorneys-at-LawGregor MaderbacherBrauneis Klauser PrändlRechtsanwälte GmbHPeter MadlSchönherr RechtsanwälteGmbH / Attorneys-at-LawIrene MandlAustrian Institute for SMEResearchWolfgang MesseritschNational BankMarguerita MüllerDorda Brugger JordisAlfred NepfMinistry of FinanceMichael PodesserPricewaterhouseCoopersUlla ReischUrbanek Lind SchmiedReisch Rechtsanwälte OGFriedrich RoedlerPricewaterhouseCoopersRuth RosenkranzGraf & PitkowitzRechtsanwälte GMBHHeidi ScheichenbauerAustrian Institute for SMEResearchGeorg SchimaKunz Schima WallentinRechtsanwälte KEG,member of Ius LaborisStephan SchmalzlWallnöferSchmalzl-RechtsanwälteErnst SchmidtKarin SchöppBinder GrösswangRechtsanwälteBenedikt SpiegelfeldCerha Hempel SpiegelfeldHlawatiBirgit Vogt-MajarekKunz Schima WallentinRechtsanwälte KEG,member of Ius LaborisLothar A. WachterWolf TheissGerhard WagnerKSV 1870Irene WelserCerha Hempel SpiegelfeldHlawatiGerold ZeilerSchönherr RechtsanwälteGmbH / Attorneys-at-LawAzerbaijanShirzad AbdullayevNational BankSabit AbdullayevOMNI Law FirmEldar AdilzadeIFCAnar AliyevIFCAzer Amiraslan AliyevIFCAykhan AsadovBaker & McKenzie - CIS,Ltd.Ismail AskerovMGB Law officesRufat AslanliNational BankSabit A. BagirovEntrepreneurshipDevelopment FoundationSamira BakhshiyevaDeloitte & Touche LLCSamir BalayevUnibankRana DramaliRoseville PremiumResidenceMehriban EfendiyevaMichael Wilson & PartnersLtd.Zaur Fati-ZadehMinistry of TaxesVusal GafarovBaker & McKenzie - CIS,Ltd.Rashad GafarovPanalpinaRufat GasinovBaku CargoRizvan GubiyevPricewaterhouseCoopersAbbas GuliyevBaker & McKenzie - CIS,Ltd.Arif GuliyevPricewaterhouseCoopersRashad GulmaliyevThe State Register Serviceof Real EstateSabina GulmaliyevaMGB Law OfficesJeyhun GurbanovAGL Ltd.Elchin HabibovNational BankFaiq Haci-IsmaylovINCE MMCAdil HajaliyevBM International LLCArzu HajiyevaErnst & YoungSamir HasanovGosselinZaur HuseynovOJSC BakielektrikshebekeEmin HuseynovNational BankFaig HuseynovUnibankJeyhun HuseynzadaPricewaterhouseCoopersZohrad IsmayilovAssociation for Assistanceto Free EconomyDilyara IsrafilovaBM International LLCFakhiyar JabbarovIFCGunduz KarimovBaker & McKenzie - CIS,Ltd.Nuran KarimovDeloitte & Touche LLCSahib MammadovCitizens’ Labour RightsProtection LeagueKamil MammadovMammadov & PartnersLaw FirmElchin MammadovMGB Law OfficesVugar MammadovPricewaterhouseCoopersRena MammadovaDeloitte & Touche LLCFaiq S. ManafovUnibankDaniel MatthewsBaker & McKenzieFarhad MirzayevBM International LLCRuslan MukhtarovBM International LLCSamir NuriyevMinistry of EconomicDevelopmentMovlan PashayevPricewaterhouseCoopersTamer PektasAral groupGivi PetriashviliIFCJohn QuinnACE Forwarding CaspianKarim N. RamazanovMinistry of EconomicDevelopmentGamar RustamovaOMNI Law FirmNailya SafrovaSwiss Cooperation Officefor the South Caucasus,Embassy of SwitzerlandSuleyman Gasan oglySuleymanovCaspian ServiceInternationalConstruction CompanyKamil ValiyevMcGrigors Baku LimitedMurad YahyayevUnibankIsmail ZargarliOMNI Law FirmUlviyya ZeynalovaMGB Law OfficesBahamas, theMcKinney, Bancroft &HughesTropical ShippingKevin A. BasdenBahamas ElectricityCorporationRodney W. BraynenDesign HäusRegistry of the RegistrarGeneral’s OfficeCraig G. DelancyThe Commonwealth ofthe Bahamas, Ministry ofWorks & TransportRochelle A. DeleveauxCentral BankChaunece M. FergusonMackay & Moxey ChambersAmos J. Ferguson jr.Ferguson Associates &PlannersAnthony S. ForbesBahamas ElectricityCorporationWendy ForsytheImport Export BrokersLtd.Higgs & JohnsonGraham, Thompson & Co.Debi Hancock-WilliamsWilliams Law ChambersColin HiggsMinistry of Works &TransportLennox PatonGordon MajorThe Commonwealth ofthe Bahamas, Ministry ofWorks & TransportShane A. MillerRegistrar General’sDepartmentMichael MossValuation and BusinessLicense Unit of theMinistry of FinanceWayne R. MunroeBahamas Bar CouncilDonna D. NewtonSupreme CourtKevin SeymourPricewaterhouseCoopersEverette B. SweetingBahamas ElectricityCorporationTex I. TurnquestDepartment of Lands &SurveysBahrainKhalid AbdullaTameerAysha MohammedAbdulmalikElham Ali Hassan &AssociatesKhaled Hassan AjajiMinistry of Justice &Islamic AffairsMohammed Abdullah Al SisiAl BuainainAl Boainain Legal ServicesNawaf Bin Ebrahim Al KalifaElectricity & WaterAuthorityHamed Mohamed Al KhalifaMinistry of Municipalities& Agriculture UrbanPlanningHaider Hashim Al NoamiMinistry of Municipalities& Agriculture Affairs.Municipal One Stop ShopMohammed Al NoorAl-Twaijri and PartnersLaw FirmMohammed Hasan AlZaimoorMinistry of Industry &CommerceSamer Al-AjjawiErnst & YoungAbdulmajeed Ali AlawadhiElectricity & WaterAuthorityFatima AlhasanQays H. Zu’biEbtihal Al-HashimiMinistry of Municipalities& Agriculture Affairs.Municipal One Stop ShopShaji AlukkalPanalpinaBilal AmbikapathyNorton RoseMaaria AshrafHatim S. Zu’bi & PartnersMohammed R. AwadhBahrain Investors Center(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 155Mohammed Mirza A. HussainBin JafferMinistry of Municipalities& Agriculture Affairs.Municipal One Stop ShopHussain Saleh DhaifMela BahrainMichael DurgavichAl-Sarraf & Al-RuwayehYousif A. HumoodMinistry of FinanceAbdulwahid A. JanahiThe Benefit CompanyJawad Habib JawadBDO Jawad HabibSara JawaheryElham Ali Hassan &AssociatesEbrahim KaroliaPricewaterhouseCoopersElie KassisAgility LogisticsMubeen KhadirErnst & YoungMohammed Abdul KhaliqTameerAbdul-Haq MohammedTrowers & HamlinsAbdullah MutawiTrowers & HamlinsHassan Ali RadhiHassan Radhi & AssociatesHameed Yousif RahmaMinistry of Industry &CommerceNajma A. Redha HasanMinistry of Municipalities& Agriculture Affairs.Municipal One Stop ShopMohamed SalahuddinMohamed SalahuddinConsulting EngineeringBureauLatifa SalahuddinQays H. Zu’biE. Hugh StokesHatim S. Zu’bi & PartnersJudith ToshNorton RoseRobin WatsonThe Benefit CompanyAdrian WoodcockNorton RoseHatim S. Zu’biHatim S. Zu’bi & PartnersBangladeshMohammad Abdul WazedDirectorate of LandRecords and SurveysMd. Abdul Maleque MianAbdullahCredit InformationBureau, Bangladesh BankZainul AbedinA. Qasem & Co. /PricewaterhouseCoopersMunir Uddin AhamedIntegrated TransportationServices Ltd., Agent ofPanalpinaTanjib-ul AlamDr. Kamal Hossain &AssociatesMD. Nurul AminDevelopmentConstructions Ltd.Mehedy AminDevelopmentConstructions Ltd.Saady AminDevelopmentConstructions Ltd.Noorul AzharGovernment ofBangladeshProbir BaruaMd. Halim BepariHalim Law AssociateSharif BhuiyanDr. Kamal Hossain &AssociatesJamilur Reza ChoudhuryAparup ChowdhuryMinistry of Law, Justiceand Parliamentary AffairsBadrud DoulahDoulah & DoulahAdvocatesNasirud DoulahDoulah & DoulahAdvocatesShamsud DoulahDoulah & DoulahAdvocatesMohammad Firoz MiaMinistry of EstablishmentMoin GhaniDr. Kamal Hossain &AssociatesK M A HalimUpright Textile SupportsRaquibul Haque MiahAdvocate & AttorneysLaw FirmMirza Quamrul HasanAdviser’s Legal AllianceAbdullah HasanDr. Kamal Hossain &AssociatesMd. Nazmul HasanProtex InternationalKazi Rashed Hassan FerdousProactiveIkhtiar HossainOverseas BusinessAbdul Hamid HowladerDhaka District RegistryOfficeMohammad Zeeshan HyderLee, Khan & PartnersShariful IslamMd Aminul IslamCity Apparel-Tex Co.Samsul IslamExecutive Magistrateand Deputy CommissionerOfficeMohammed Aminul IslamV-Sign Sweaters Ltd.Sohel KasemA. Qasem & Co. /PricewaterhouseCoopersLeatherex Footwear Ind.Ltd.Qazi Mahtab-uz-ZamanA.I.M MonsoorS A MortozaOishi Trade AssociatesSheikh NurulEva QuasemAmir & Amir LawAssociates, member of LexMundiA.F.M. Rahamatul BariGlobe Link Associates LtdMd. Mahbubur RahmanAmiq Computer &ElectronicsMoinur RahmanAspect Ratio CreativeCommunicationAl Amin RahmanAl Amin Rahman &AssociatesM.A. RezaTailor4Ruma Leather IndustriesLtd.Deloar SiddiqueM. Abu Bakar & Co.Shahriar SyeedV-Teac Fashion Pvt Ltd.S S Tex LinkBabla TopyBelarusIvan AlievichVlasova Mikhel & PartnersYuri M. AlymovNational BankAlexey AnischenkoVlasova, Mikhel andPartners LLCSvetlana BabintsevaDICSA Audit, Law &ConsultingRon J. BardenPricewaterhouseCoopersVladimir G. BirukCapital Ltd.Bokemin Ltd.Dmitry BokhanBusinessconsultAlexander BondarBusinessconsultAlexander BotianBorovtsov & Salei LawOfficesVitaly BraginiecBraginiec & PartnersAliaksandr DanilevichDanilevichIgor DankovPricewaterhouseCoopersVladimir DidenkoPricewaterhouseCoopersAnton DolgovechnyNational BankDmitry DorofeevNational BankMarina DymovichBorovtsov & Salei LawOfficesKuksenko Ivan GennadievichARS GroupGennadiy GlinskiyDICSA InternationalGroup of LawyersAlexandr IgnatovNational BankAntonina IvanovaDICSA InternationalGroup of LawyersDmitry L. KalechitsNational BankNina KnyazevaBusinessconsultIrina KoikovaDICSA InternationalGroup of LawyersMikhail E. KostyukovAttorney at LawDmitry LabetskyBusinessconsultOksana LobanErnst & YoungSergei LogvinovKrafttransEkaterina LukyanovaState Committee for RealEstate RegistrationKonstantin MikhelVlasova Mikhel & PartnersAlexei NazarovNational BankVladimir NemovDICSA Audit, Law &ConsultingMagdalena PatrzykPricewaterhouseCoopersVictor PlenkinNational BankVassili I. SaleiBorovtsov & Salei LawOfficesSergei SenchukState Committee for RealEstate RegistrationVitaly P. SevroukevitchBelarussian ScientificIndustrial AssociationAlexander ShevkoNational BankLubov SlobodchikovaNational BankViktar StrachukDeloitte & ToucheSergey StrelchikValex ConsultNatalia TalaiVlasova Mikhel & PartnersYuri M. TruhanNational BankAlexander VasilevskyValex ConsultAnna YakubenkoPricewaterhouseCoopersVyacheslav ZhukIFCBelgiumAllen & Overy LLPCour de CassationHubert André-DumontMcGuire Woods LLPChristiaan BarbierMonard-D’HulstThierry BoslyWhite & CaseGilles CarbonezMcGuire Woods LLPOrtwin CarronMonard-D’HulstKoen CooremanSteven De SchrijverVan Bael & BellisAmaury Della FaillePricewaterhouseCoopersFrank DierckxPricewaterhouseCoopersDavid Du PontAshurstJürgen EggerMonard-D’HulstPierrette FraisseSPF Finances - AGDPKurt GrilletAltiusSandrine HirschSimont BraunThomas HürnerNational BankStephan LegeinFederal Public ServiceFinanceLuc LegonPricewaterhouseCoopersAlexis LemmerlingBerquin NotairesAxel MaeterlinckSimont BraunPhilippe MassartSibelgaMedicCleanAirRobert MeunierNotaryCarl MeyntjensAshurstDominique MougenotCommercial Court MonsDidier MurailleNational BankPeter NeefsNational BankSabrina OttenPricewaterhouseCoopersPanalpina WorldTransport N.V.Peter RooryckMonard-D’HulstKatrien SchillemansPricewaterhouseCoopersFrédéric SouchonPricewaterhouseCoopersJan Van CelstDLA Piper LLPMieke van den BunderPricewaterhouseCoopersBusiness AdvisorsRuben Van ImpeVan Impe AccountancyBVBA(c) The International Bank for Reconstruction and Development / The World Bank

156 Doing Business 2009Dirk Van StrijthemPricewaterhouseCoopersSuzy Vande WieleLoyens & LoeffBart VanhamPricewaterhouseCoopersPatrick VercauterenAPLReinout VleugelsVan Bael & BellisChristian WillemsLoyens & LoeffBelizeEmil ArguellesArguelles & Company LLCRudy CastilloThe Belize Bank Ltd.Gian C. GandhiInternational FinancialServices CommissionMirna LaraEurocaribe Belize ShippingServicesRussell LongsworthCaribbean ShippingAgencies Ltd.Fred LumorFred Lumor & Co.Reynaldo F. MaganaFrontier InternationalBusiness Services Ltd.Tania MoodyBarrow & WilliamsPatricia RodriguezBelize Companies andCorporate Affairs RegistryDan RothSterling Freight ServicesJanelle TillettEurocaribe Belize ShippingServicesSaidi VaccaroArguelles & Company LLCPhilip ZunigaBarrister & Attorneyat-LawBeninJean-Claude AdandedjanContinental BankGaniou AdechyEtude de Me GaniouAdechyEurydice AdjoviContinental BankVictoire Agbanrin-ElishaCabinet d’AvocatAgbanrin-ElishaSaïdou AgbantouCabinet d’AvocatsPaul AgbonihoueSBEEJean-Paul T. Hervé AhoyoSociete BeninoiseD’Energie ElectriqueSybel AkueshsonFCARafikou AlabiCabinet Me AlabiDieu-Donné Mamert AssogbaCabinet Maître AdjaiInnocent Sourou AvognonMinistère de la Justice etde la LegislationZachari Baba BodyCabinet SPA Baba Body,Quenum et SambaouCharles BadouCabinet d’Avocat CharlesBadouGabriel BankoleContinental BankAgnès A. CampbellCampbell & AssociésEugene Capo-chichiMinistère des Transportset des Travaux PublicsMichèle A. O. CarrenaTribunal de PremièreInstance de CotonouDae Stores LimitedJohannès DagnonGroupe Helios AfriqueArmand DakehounMinistere des Mines, del’Energie et de L’eauDansouImotephJonathan DarbouxBCEAOFatimatou Zahra DiopBCEAOHenri FadonougboTribunal de PremiereInstanceFrancis Sètondji FagniboMinistère des Finances etde L’EconomieGuy Médard Agbo FayemiOrdre National desArchitectes et desUrbanistesJean Claude GnamienFIDAFRICA /PricewaterhouseCoopersHermann GnangoFIDAFRICA /PricewaterhouseCoopersDenis HazoumeContinental BankDominique LalesAddax & Oryx GroupEvelyne M’BassidgéFIDAFRICA /PricewaterhouseCoopersAdeline MessouFIDAFRICA /PricewaterhouseCoopersSeverin-Maxime QuenumCabinet SPA Baba Body,Quenum et SambaouDakehoun Armand S. RaoulMinistere des Mines, del’Energies et de L’eauMohammed Rabiou SaloufChambre de Commerce etd’Industrie du BeninZakari Djibril SambaouAlice Codjia SohouenouAttorney-at-LawDidier SterlingotSDV - SAGADominique TatyFIDAFRICA /PricewaterhouseCoopersChakirou TidjaniAgence Béninoise dePromotion des EchangesCommerciauxAbdoul’ Azis TidjaniDirection Générale desImpôts et des DomainesJean-Bosco TodjinouOrdre National desArchitectes et desUrbanistesRoger TohoundjoHaute Cour de JusticeFousséni TraoréFIDAFRICA /PricewaterhouseCoopersKonate YacoubaFrance TransfoZitty SarlDonatien Adannou ZononChambre de Commerce etd’Industrie du BeninBhutanSusan CollierOrrick, Herrington &Sutcliffe LLPKincho DorjeeLeko PackersUgyen DorjiThimphu City CorporationLaxmi Prasad GiriBhutan National Bank LtdTharchin LhendupMinistry of FinanceS.N. MuruliThimphu City CorporationSangay PenjoreThimpu Municipal Co.Sonam TsheringMinistry of FinanceSonam WangchukMinistry of FinanceTshering WangchukRoyal Court of JusticeSonam P. WangdiMinistry of EconomicAffairsTashi WangmoMinistry of Labour andHuman ResourcesBoliviaFernando AguirreBufete Aguirre Soc. Civ.Carolina Aguirre UriosteBufete Aguirre Soc. Civ.Oswaldo Alvarez WillsS&V Asociados S.R.L.Daniela Aragones CortezSanjines & Asociados Soc.Civ. AbogadosJaime Araujo CamachoFerrereRaúl A. BaldiviaBaldivia Unzaga &AsociadosAdrian BarrenecheaBazoberryCriales, Urcullo &AntezanaEnrique BarriosGuevara & Gutiérrez S.C.Alexandra BlancoGuevara & Gutiérrez S.C.Francisco Bollini RocaFerrereWalter B. Calla CardenasColegio Departamental deArquitectos de La PazFranklin CarrilloPricewaterhouseCoopersJose A. CrialesCriales, Urcullo &AntezanaJ. Christian Davila C.SD ArquitectosKaren Yovana Egüez PalmaFerrereJeannine ForguesFerrereNicolas Franulic CasasnovasInfocred - Servicio deInformacion CrediticiaBIC s.a.Jose E. Gamboa T.Colegio Departamental deArquitectos de La PazMichelle Giraldi LacerdaPricewaterhouseCoopersRenato Goitia MachicaoHermes S.R.L.Adriana Grizante de AlmeidaPricewaterhouseCoopersRamiro GuevaraGuevara & Gutiérrez S.C.Primitivo GutiérrezGuevara & Gutiérrez S.C.Enrique F. HurtadoSuperintencia de Bancos yEntidades FinancierasMarcelo Hurtado-SandovalSalazar, SalazarCarlos Alberto IaciaPricewaterhouseCoopersJorge Luis InchausteGuevara & Gutiérrez S.C.Paola Justiniano AriasSanjines & Asociados Soc.Civ. AbogadosCesar LoraPricewaterhouseCoopersReynaldo Marconi O.FinruralGonzalo Mendieta RomeroEstudio de AbogadosMendieta Romero &AsociadosLuis Meneses M.AlpasurJaime Merida AlvarezColegio Departamental deArquitectos de La PazAriel Morales VasquezC.R.& F. Rojas AbogadosEvany OliveiraPricewaterhouseCoopersElidie P. BifanoPricewaterhouseCoopersAlejandro Peláez KayIndacochea & AsociadosMariana Pereira NavaIndacochea & AsociadosOscar Antonio Plaza PonteEntidad De Servicios DeInformación Enserbic S.A.Julio Quintanilla QuirogaQuintanilla & Soria, Soc.Civ.Carlos Ramirez ArroyoC.R. & F. Rojas, member ofLex MundiDiego RojasC.R. & F. Rojas, member ofLex MundiFernando RojasC.R. & F. Rojas, member ofLex MundiMariela RojasEntidad De Servicios DeInformación Enserbic S.A.Pilar SalasarBufete Aguirre Soc. Civ.Sergio Salazar-MachicadoSalazar, SalazarFernando Salazar-ParedesSalazar, SalazarSandra SalinasC.R. & F. Rojas, member ofLex MundiRaoul Rodolpho SanjinesElizagoyenSanjines & Asociados Soc.Civ. AbogadosJennifer ShepardSD ArquitectosA. Mauricio Torrico GalindoQuintanilla & Soria, Soc.Civ.Roberto Viscafé UreñaPricewaterhouseCoopersMauricio Zambrana CuéllarInfocred - Servicio deInformacion CrediticiaBIC s.a.Bosnia andHerzegovinaSabina BucoPricewaterhouseCoopersEmir CorhodzićDLA Piper Weiss -TessbachMark DavidsonPricewaterhouseCoopersVišnja DizdarevićMarić Law OfficePetros DoukasIKRP Rokas & PartnersEzmana HadziavdićMarić Law OfficeEmin HadzićMarić Law OfficeSenada Havić HrenovicaLRC Credit BureauIsmeta HuremovićLand Registry Office ofthe Sarajevo MunicipalCourtNusmir HuskićMarić Law OfficeHaris MesinovićIFC(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 157Arela JusufbasićLawyers’ Office BojanaTkalcic-Djulic, OlodarPrebanic & AdelaDraganovicMuhidin KaršićLaw Office of EmirKovačevićEmmanuel KoenigPricewaterhouseCoopersVildana MandalovićIKRP Rokas & PartnersBranko MarićMarić Law OfficeEmir PasanovićDLA Piper Weiss -TessbachEdisa PeštekDLA Piper Weiss -TessbachHasib SalkićInteršpedMehmed SpahoLaw Office SpahoAnisa StrujićMarić Law OfficeBojana Tkalčić-DjulićLawyers’ Office BojanaTkalcic-Djulic, OlodarPrebanic & AdelaDraganovicMira Todorović-SymeonidiIKRP Rokas & PartnersSelver ZaimovićLaw Office SpahoBotswanaStaffnurse Bangu T. Lesetedi-KeothepileRegistrar of Companies,Trade Marks, Patents andDesignsJohn Carr-HartleyArmstrongs AttorneysRizwan DesaiCollins Newman & CoDiba M. DibaMinchin & Kelly AttorneysGuri DoboDobson and Company,Certified PublicAccountantsEdward W. Fasholé-Luke IILuke & AssociatesVincent GaleromeloeTransUnion ITCLaknath JayawickramaPricewaterhouseCoopersBokani MachinyaCollins Newman & CoDineo Makati-MphoCollins Newman & CoMercia Bonzo MakgalemeChibanda, Makgaleme& Co.Finola McMahonOsei-Ofei Swabi & Co.Diniar MinwallaPricewaterhouseCoopersClaude A. MojafiMinistry of Labour andHome AffairsMmatshipi MotsepeManica Africa Pty. Ltd.Jack Allan MutuaTectura InternationalBotswanaAlfred B. NgowiUniversity of BotswanaRajesh NarasimhanGrant ThorntonGodfrey N. NthomiwaAdministration of JusticeKwadwo Osei-OfeiOsei-Ofei Swabi & Co.Butler PhiriePricewaterhouseCoopersNikola StojanovicABB (Pty) LtdJuliana WhiteBotswana Stock ExchangeDave WilliamsMinchin & KellyBrazilPedro Aguiar de FreitasCompanhia Vale do RioDoceAntonio AiresDemarest e AlmeidaAdvogadosDonizeet Andonio da SilvaDAS ConsultoriaPedro Vitor Araujo da CostaEscritorio de AdvocaciaGouvêa VieiraFlavia Bailone MarcilioBarbosaVeirano AdvogadosPriscyla BarbosaVeirano AdvogadosRenato BergerTozzini Freire AdvogadosCamila BiralDemarest e AlmeidaAdvogadosRichard BlanchetLoeser e PortelaAdvogadosAdriano BorgesDe Vivo Whitaker e CastroAdvogadosDaniel BortolottoCargo LogisticsSergio BronsteinVeirano AdvogadosJúlio César BuenoPinheiro Neto AdvogadosPaulo CampanaFelsberg, Pedretti,Mannrich e AidarAdvogados e ConsultoresLegaisPlinio Cesar RomaniniBanco CentralRenato ChiodaroDe Vivo Whitaker e CastroAdvogadosCentro UniversitárioCuritibaFernanda Cirne MontorfanoEscritorio de AdvocaciaGouvêa VieiraGilberto Deon Corrêa JuniorVeirano AdvogadosSidinei Corrêa MarquesBanco CentralAdriana DaiutoDemarest e AlmeidaAdvogadosCleber Dal Rovere PeluzoViseu Cunha OricchioAdvogadosEduardo DepassierLoeser e PortelaAdvogadosRoberta dos Reis MatheusTrench Rossi e WatanabeAdvogadosJosé Ricardo dos Santos LuzJúniorDuarte Garcia, CaselliGuimarães e TerraAdvogadosRoberta Feiten SilvaVeirano AdvogadosVanessa FelícioVeirano AdvogadosThomas Benes FelsbergFelsberg, Pedretti,Mannrich e AidarAdvogados e ConsultoresLegaisDanielle FerreiroPinheiro GuimarãesAdvogadosRafael Frota Indio do BrasilFerrazEscritorio de AdvocaciaGouvêa VieiraRafael GagliardiDemarest e AlmeidaAdvogadosThiago GiantomassiDemarest e AlmeidaAdvogadosMichelle Giraldi LacerdaPricewaterhouseCoopersAdriana Grizante de AlmeidaPricewaterhouseCoopersEnrique HadadLoeser e PortelaAdvogadosMery Ellen HidalgoNew DealCarlos Alberto IaciaPricewaterhouseCoopersChristopher JarvinenPinheiro Neto AdvogadosEsther JerussalmyAraújo e PolicastroAdvogadosFernando LoeserLoeser e PortelaAdvogadosMarina MaccabelliDemarest e AlmeidaAdvogadosAndré MarquesPinheiro Neto AdvogadosGeorges Louis Martens FilhoDe Vivo, Whitaker, Castroe Gonçalves AdvogadosThiago MartinsAraújo e PolicastroAdvogadosJose Augusto MartinsBaker & McKenzieLaura Massetto MeyerPinheiro GuimarãesAdvogadosRodrigo MatosMBM TradingEduardo Augusto MattarPinheiro GuimarãesAdvogadosAnneliese MoritzFelsberg, Pedretti,Mannrich e AidarAdvogados e ConsultoresLegaisWalter Abrahão Nimir JuniorDe Vivo, Whitaker, Castroe Gonçalves AdvogadosEvany OliveiraPricewaterhouseCoopersAndrea Oricchio KirshViseu Cunha OricchioAdvogadosElidie P. BifanoPricewaterhouseCoopersMaria Fernanada PecoraVeirano AdvogadosFabio Luis Pereira BarbozaViseu Cunha OricchioAdvogadosAndréa Pitthan FrançolinDe Vivo, Whitaker, Castroe Gonçalves AdvogadosDurval PortelaLoeser e PortelaAdvogadosPontifícia UniversidadeCatólica do ParanáEliane Ribeiro GagoDuarte Garcia, CaselliGuimarães e TerraAdvogadosGuilherme Rizzo AmaralVeirano AdvogadosJoão RodriguesVeirano AdvogadosCarlos SantosSantos ConsultingCamilla SistiAraújo e PolicastroAdvogadosClaudio TaveiraPinheiro Neto AdvogadosEnrique Tello HadadLoeser e PortelaAdvogadosMarcos TiraboschiVeirano AdvogadosFábio TokarsJunta Comercial do ParanaLuiz Fernando Valente DePaivaPinheiro Neto AdvogadosJosé WahleVeirano AdvogadosEduardo GuimarãesWanderleyVeirano AdvogadosCelso XavierDemarest e AlmeidaAdvogadosBruneiArkitek IbrahimDanny ChuaBrunei TransportingCompanyMichael GuanLee CorporatehouseAssociatesNancy LaiLee CorporatehouseAssociatesKin Chee LeeLee CorporatehouseAssociatesYew Choh LeeY.C. Lee & Lee Advocates &SolicitorsTeck Guan LimErnst & YoungKelvin LimK. Lim & Co.Guillaume MadruSDVColin OngDr. Colin Ong LegalServicesBulgariaSvetlin AdrianovPenkov, Markov & PartnersNikolay BandakovKambourov & PartnersChristo BatchvarovPricewaterhouseCoopersIlian BeslemeshkiGeorgiev, Todorov & Co.Nikolai BozhilovUnimasters Logistics Plc.Stella BozovaStoeva, Kuyumdjieva &VitliemovEmil CholakovLM Legal Services Ltd.Marta Del CotoLandwell,PricewaterhouseCoopersLegal ServicesBorislav DimitrovLandwell,PricewaterhouseCoopersLegal ServicesKristina DimitrovaLandwell,PricewaterhouseCoopersLegal ServicesElina DimovaLIC - Penkov, Markov &PartnersLora DochevaPricewaterhouseCoopersBogdan DrenskiGeorgiev, Todorov & Co.Economou InternationalShipping Agency Limited,VarnaGeorgy GeorgievLandwell,PricewaterhouseCoopersLegal ServicesMarieta GetchevaPricewaterhouseCoopersRalitsa GouglevaDjingov, Gouginski,Kyutchukov & VelichkovKaterina GramatikovaDobrev, Kinkin &Lyutskanov(c) The International Bank for Reconstruction and Development / The World Bank

158 Doing Business 2009Iassen HristevDobrev, Kinkin &LyutskanovGinka IskrovaPricewaterhouseCoopersAngel KalaidjievKalaidjiev, Georgiev &MinchevYabor KambourovKambourov & PartnersHristina KirilovaKambourov & PartnersLilia KissevaDjingov, Gouginski,Kyutchukov & VelichkovDonko KolevAsta Bridge InternationalIlya KomarevskiLandwell,PricewaterhouseCoopersLegal ServicesBoika KomsulovaPricewaterhouseCoopersDessislava LukarovaArsov Natchev GanevaIvan MarkovLIC - Penkov, Markov &PartnersGergana MonovskaDjingov, Gouginski,Kyutchukov & VelichkovVladimir NatchevArsov Natchev GanevaYordan NaydenovBorislav Boyanov & Co.Violeta NikolovaArsov Natchev GanevaDarina OresharovaExperian Bulgaria EADAlexander PachamanovGeorgiev, Todorov & Co.Yordanka PanchovskaGeorgiev, Todorov & Co.Miglena PenevaGeorgiev, Todorov & Co.Vladimir PenkovPenkov, Markov & PartnersGalina PetkovaArsov Natchev GanevaBorislava PokrassStoeva, Kuyumdjieva &VitliemovGerdana PopovaGeorgiev, Todorov & Co.Nikolav RadevDobrev, Kinkin &LyutskanovNevena RadlovaStoeva, Kuyumdjieva &VitliemovAlexander RangelovPricewaterhouseCoopersAnna SaevaBorislav Boyanov & Co.Stela SlavchevaAspolly CarrassInternational Ltd.Violeta SlavovaExperian Bulgaria EADIrina StoevaStoeva, Kuyumdjieva &VitliemovRoman StoyanovLIC - Penkov, Markov &PartnersMargarita StoyanovaKambourov & PartnersPeter TakovLandwell,PricewaterhouseCoopersLegal ServicesLaura ThomasLM Legal Services Ltd.Svilen TodorovTodorov & Doykova LawFirmMatea TsenkovaDjingov, Gouginski,Kyutchukov & VelichkovStefan TzakovKambourov & Partners,Attorneys at lawMaria UrmanovaLandwell,PricewaterhouseCoopersLegal ServicesMiroslav VarnalievUnimasters Logistics Plc.Pavel VitliemovStoeva, Kuyumdjieva &VitliemovVera YanevaPenkov, Markov & PartnersBurkina FasoCampene A TheophileFortune BicabaDieudonne BonkoungouBirika Jean Claude BonziB. Thierry CompaoréIngenierie-Design-ArchitectureBernardin DabireCabinet Bernardin DabireLaurent-Michel DabireCabinet Bernardin DabireJonathan DarbouxBCEAODenis DawendeOffice Notarial Me JeanCelestin ZoureSylvie DembeléDaouda DialloFisc ConsultingInternationalFatimatou Zahra DiopBCEAOJean Claude GnamienFIDAFRICA /PricewaterhouseCoopersHermann GnangoFIDAFRICA /PricewaterhouseCoopersSibi Desire GoubaOffice Notarial Me JeanCelestin ZoureIssaka KargourouMaison de l’entreprise duBurkina FasoBarthélémy KereCabinet d’AvocatsBarthélemy KereGilbert KibtonreCEFACMessan LawsonColette LefebvreInspection du TravailIdo LeocaldieCabinet Bernardin DabireEvelyne Mandessi BellCabinet Ouedraogo &BonkoungouEvelyne M’BassidgéFIDAFRICA /PricewaterhouseCoopersAdeline MessouFIDAFRICA /PricewaterhouseCoopersOumarou OuedraogoAvocat à la CourN. Henri OuedraogoMinistere des Finances etdu BudgetFrançois de Salle OuedraogoSociete Nationaled’Electricite du BurkinaBenewende S. SankaraCabinet Maitre SankaraHermann SanonOffice Notarial Me JeanCelestin ZoureMichel SawadogoUniversité deOuagadougouMoussa SogodogoAvocat à la CourBarterlé Mathieu SomeAvocat à la CourThombiano SylvainEPUREDominique TatyFIDAFRICA /PricewaterhouseCoopersClément ToeGénéral d’Electricité etDiversFousséni TraoréFIDAFRICA /PricewaterhouseCoopersBouba YaguibouSeydou Roger YambaCabinet Maitre SankaraGilles Corneille YaméogoBarreau du Burkina FasoOusmane Prosper ZoungranaThéophane Noël ZoureOffice Notarial Me JeanCelestin ZoureBurundiBireha AudaceBanques-Microfinance-Gestion immobilièreJoseph BahiziBanque de la Républiquedu BurundiSylvestre BanzubazeAvocat au barreau duBurundiEmmanuel HakizimanaCab. D’Avocats-ConseilsDominik KohlhagenChercheur au Laboratoired’Anthropologie Juridiquede ParisAugustin MabushiA & JN Mabushi Cabinetd’AvocatsJean Marie MudendeRepublique de BurundiMinistere de la JusticeBonaventure NicimpayeIntercontact Services, S.A.Bernard NtahirajaCabinet Willy RubeyaTharcisse NtakiyicaBarreau du BurundiDaniel NtawurishiraSDV Transami - GroupeBolloréFrançois NyamoyaAvocat à la CourDéogratias NzembaAvocat à la CourLaurent NzeyimanaPresident du Conseild’Arbitrage CEBACPhillipe PasqualiSDV Transami - GroupeBolloréProsper RinguyenezaArchitecture etConstruction (A.C.)Willy RubeyaCabinet Willy RubeyaBenjamin RufagariDeloitte & ToucheClémence RwamoMinistère de la JusticeFabien SegatwaEtude Me SegatwaGabriel SinarinziCabinet Me GabrielSinarinziSalvatore SindayiheburaSDV Transami - GroupeBolloréAudace SunzuREGIDESO-BurundiCambodiaChan Koulika BoB.N.G.Kate BugejaArbitration CouncilFoundationKeokolreak ButhVanna & Associates LawFirmHuot CheaThe World BankMichael CheahSaggara CorporationPhanin CheamMunicipality of PhnomPenh Bureau of UrbanAffairsRithy CheyB.N.GBoyan ChhanIndochina ResearchNgov ChongPricewaterhouseCoopersBrennan ColemanDFDL Mekong Law GroupSandra D’AmicoHR Inc. (Cambodia) Co.,Ltd.Louis-Martin DesautelsDFDL Mekong Law GroupSenaka FernandoPricewaterHouseCoopersRob ForceDFDL Mekong Law GroupStephane GuimbertThe World Bank GroupPhea HamChhun Vinita Law OfficeSvay HayAcleda Bank Plc.Kent HelmersIndochina ResearchNaryth H HourB.N.G.Tim HolzerDFDL Mekong Law GroupSanthea HounNarita Logistics &Services/PanalpinaDourng KakadaEconomic Institute ofCambodiaMay KanoAcleda Bank Plc.Sakhan KhomArbitration CouncilFoundationChhung KongDFDL Mekong Law GroupKheng LeangNarita Logistics &Services/PanalpinaJean LoiPricewaterhouseCoopersJanet H. LueckenhausenFunctional EngineeringTayseng LyHBS Law Firm &ConsultantsNimmith MenArbitration CouncilFoundationJacqueline MenyhartB.N.GEric MetayerNarita Logistics &Services/PanalpinaLong MomRAF InternationalForwarding Inc.Kaing MonikaThe GarmentManufacturersAssociation in CambodiaLaurent NotinIndochina ResearchRy OukBou Nou Ouk & PartnersPhan PhallaSupreme NationalEconomic CounselPisetha PinSamnang CRM CompanyLimitedSoleil Della PongHR Inc. (Cambodia) Co.,Ltd.(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 159Sour PorGlobal Link Service PteLtd.Sovannorak RathNational BankKuntheapini SaingArbitration CouncilFoundationDenora SarinSarin & AssociatesChanthy SinLinexSorya SinSHA Transport ExpressCo. Ltd.Billie Jean SlottSciaroni & AssociatesLor SokArbitration CouncilFoundationChamnan SomCambodian Federation ofEmployers and BusinessAssociationsSorphea SouArbitration CouncilFoundationDavid SymanskyHR Inc. (Cambodia) Co.,Ltd.Michael TanRAF InternationalForwarding Inc.Vann ThoAcleda Bank PlcJanvibol TipTip & PartnersIv VisalElectricite du CambodgeSal VisethSal ChanthaCameroonMobeh AndreMaersk S.A.Gilbert Awah BongamAchu and Fon-Ndikum LawFirmRichard BatchatoService du CadastreDavid BoyoJing & PartnersAnne Marie Dibounje JockeCabinet Maitre EliseLottinPaul Marie DjamenBICECLaurent DongmoJing & PartnersIvonne EgbeServices des DomainesEvariste ElundouMaersk S.A.Lucas Florent EssombaCabinet Essomba &AssociésJean Pierre EyoumMandengueEtude Notariale EyoumMandengueAtsishi Fon NdikumAchu and Fon-Ndikum LawFirmPhilippe Fouda FoudaBEACCaroline Idrissou-BelingarBEACAngoh Angoh JacobNico Halle & Co. Law FirmPaul JingJing & PartnersHenri Pierre JobCabinet d’Avocats HenriJobSerge JokungCabinet Maître MarieAndrée NGWEJean Aime KoungaCabinet d’Avocats AbengRolandKumfa Jude KwenyuiJuris Consul Law FirmAriane Marceau-CotteCabinet Maître MarieAndrée NGWEDanielle MbapeJing & PartnersAlain Serges MbebiCabinet CADIREAugustin Yves Mbock KekedCabinet CADIREClarence Mireille Moni NsekeEpse EtameCabinet Maitre EliseLottinBérangère MoninFIDAFRICA /PricewaterhouseCoopersJean Jacques Moukory EyangoCabinet Maitre EliseLottinRaoul MoutheNimba ConseilAimé Ndock LenM & N Law Firm, cabinetd’avocatsMarcelin NdoumEtude de notaire Wo’oIsidore Baudouin NdzanaFIDAFRICA /PricewaterhouseCoopersSimon Pierre NembaCabinet Maître MarieAndrée NgweJulius Ngu Tabe AchuAchu and Fon-Ndikum LawFirmMarie-Andrée NgweCabinet Maître MarieAndrée NGWEMbah Martin NjahNico Halle & Co. Law FirmPierre NjiguiABB CameroonPatrice Guy NjoyaCabinet Maître MarieAndrée NgweJacques NyembCabinet NyembChristian O’JeansonMaersk S.A.André-Marie OwonoCabinet NyembBlaise TallaCabinet Juridique Mouthe& Associes SARLDominique TatyFIDAFRICA /PricewaterhouseCoopersCharles TchuenteCabinet NyembJude Yong YehCabinet CADIRECanadaDavid BishGoodmans LLPJay A. CarfagniniGoodmans LLPAllan ColemanOsler, Hoskin & HarcourtLLPDavid CooperBorden Ladner Gervais LLPGilles DemersGroupe OptimumJeremy FraibergOsler, Hoskin & HarcourtLLPAnne GloverBlake, Cassels & Graydon,member of Lex MundiYoine GoldsteinMcMillan BinchMendelsohnSteven GolickPamela S. HughesBlake, Cassels & Graydon,member of Lex MundiAndrew KentMcMillan BinchMendelsohnMatthew KindreeBaker & McKenzie LLPJoshua KochathComage Container LinesSusan LeslieFirst Canadian TitleCharles MagermanBaker & McKenzie LLPThomas O’BrienPricewaterhouseCoopersAlfred PageBorden Ladner Gervais LLPJohn PirieBaker & McKenzie LLPSam RapposBruce ReynoldsBorden Ladner Gervais LLPDamian RigoloOsler, Hoskin & HarcourtLLPPaul RobinsonCorporations CanadaKelly RussellPricewaterhouseCoopersPaul SchabasBlake, Cassels & Graydon,member of Lex MundiIrina SchnitzerDavis LLPNicholas ScheibMcMillan BinchMendelsohnSDVSharon VogelBorden Ladner Gervais LLPKim WoodPricewaterhouseCoopersCape VerdeHermínio AfonsoPricewaterhouseCoopersJanira Hopffer AlmadaD. Hopffer Almada EAssociadosNandixany AndradeArnaldo Silva &AssociadosVera AndradeCWV AdvogadosBraz de AndradeFirma Braz de AndradeMary Braz de AndradeFirma Braz de AndradeSusana CaetanoPricewaterhouseCoopersVasco Carvalho OliveiraRamosEngicIlíldio CruzGabinete de AdvocaciaConsultoria eProcuradoria JuridicaZacarias De PinaENGEOBRAVictor Adolfo de Pinto OsórioAttorney-at-LawJorge Lima Delgado LopesNúcleo Operacional daSociedade de InformaçãoJoão DonoJoão Dono AdvogadosAna DuartePricewaterhouseCoopersJohn DugganPricewaterhouseCoopersDjassi FonsecaNOSiFlorentino Jorge Fonseca JesusMunicipalidade PraiaPaulo GodinhoPricewaterhouseCoopersEduardo Nascimento GomesEmpresa Pública deElectricidade e ÁguaJoana Gomes RosaAdvogadaAgnaldo LaiceMaersk LineJose Manuel Fausto LimaElectra PraiaAna Denise Lima BarberCWV AdvogadosAntonio LopesPricewaterhouseCoopersMaria de Fatima Lopes VarelaBanco Central de CaboVerdeRicardo MartinsElectraPaulo Noel MartinsPrime Consulting GroupJoão M.A. MendesAUDITEC - Auditores &ConsultoresCarlos Pereira ModestoModesto - DespachanteFernando Aguiar MonteiroAdvogados AssociadosRicardo Cláudio MonteiroGonçlavesPalácio de Justiça doTribunal da Comarca daPraiaMilton PaivaD. Hopffer Almada EAssociadosCarlos Gregorio Lopes PereiraGoncalvesConservatoria de RegistosPredial Comercial &AutomoveisEldetrudes Pires NevesAraújo, Neves, Santos& Miranda, AdvogadosAssociadosArmando J.F. RodriguesPricewaterhouseCoopersJosé Rui de SenaAgência de Despachoaduaneiro Ferreira e SenaLdaTito Lívio Santos OliveiraRamosEngicHenrique Semedo BorgesAdvogadoArnaldo SilvaArnaldo Silva &AssociadosMaria Fernanda Silva RamosBCA - Gabinete JuridicoMario Alberto TavaresMunicipalityJoão Carlos Tavares FidalgoBanco CentralElsa TavazesCWV AdvogadosJorge Lima TeixeiraArchitectTereza Teixeira B. AmadoAmado & MedinaAdvogadasLeendert VerschoorPricewaterhouseCoopersCentral AfricanRepublicRichard AnokonayenMinisterie de la fonctionPubliqueMax Symphorien BabdibaClub OHADAJean Christophe BakossaL’Ordre Centraficain desArchitectesEmile BizonCabinet Tiangaye -Université de BanguiMichel DesprezSDV Centrafrique - GroupeBolloréMaurice Dibert- DolletMinistère de la JusticeBertin-Rufin DimancheMinistère des Finances,Direction Générale desImpôts et des DomainesChristiane Doraz-SerefessenetSecrétaire Générale de laChambre des Notaires(c) The International Bank for Reconstruction and Development / The World Bank

160 Doing Business 2009Marie-Edith Douzima-LawsonCabinet Douzima&Ministère de la fonctionpubliqueEnergie Centrafricaine(ENERCA)Philippe Fouda FoudaBEACDolly GotilogueIsidore GrotheMinistère des Finances etdu BudgetGabriel HoundoniClub OHADACaroline Idrissou-BelingarBEACNoel KelembhoSDV - Groupe BolloréBouna Loumandet ChrésiaEtude NotarialeJean Paul Maradas NadoMinistere de l’UrbanismeAnasthasie Mbo-GaudeuilleChambre de Commerced’Industrie des mines et deL’artisanatSerge Médard MissamouClub OHADAYves NamkomokoinaMagistrat, CommerceTribunalJean Baptiste NougangaBureau Comptable Fiscal -Cabinet NougangaBako SahArchitectChadAbdelkerim AhmatSDVOscar D’Estaing DeffossoFIDAFRICA /PricewaterhouseCoopersBaba DinaStat N'DjaménaMahamat DjibrineSTDN’Doningar DjimasnaFaculté de Droit,Université de N’DjamenaPhilippe Fouda FoudaBEACCaroline Idrissou-BelingarBEACNarcisse Madjiyore DongarIssa NgarmbassaEtude Me Issa Ngar mbassaNissaouabé PassangEtude Me PassangNicolas RonziéFIDAFRICA /PricewaterhouseCoopersGilles SchwarzSDVDominique TatyFIDAFRICA /PricewaterhouseCoopersNadine Tinen TchangoumFIDAFRICA /PricewaterhouseCoopersSobdibé ZouaLaw Firm SCPPChileAngie Armer RiosAlvarez Hinzpeter JanaSandra BenedettoPricewaterhouseCoopersJorge Benitez UrrutiaUrrutia & CíaJimena BronfmanGuerrero, Olivos, Novoa yErrázurizHéctor CarrascoSuperintendencia deBancos e InstitucionesFinancierasPaola CasorzoPhilippi, Yrarrazaval,Pulido & BrunnerAndrés ChirgwinAlvarez Hinzpeter JanaCamilo CortésAlessandri & CompañíaSergio CruzCruz & Cia. AbogadosJosé Ignacio DíazYrarrázaval, Ruiz-Tagle,Goldenberg,Lagos& SilvaCristián S. EyzaguirreEyzaguirre & Cía.Silvio Figari NapoliDatabusinessCristian Garcia-HuidobroBoletin ComercialJuan Pablo Gonzalez M.Guerrero, Olivos, Novoa yErrázurizMauricio HederraCruz & Cía AbogadosJavier HurtadoCamara Chilena de laConstruccionFernando JamarneAlessandri & CompañíaDidier LaraPricewaterhouseCoopersLeón LarrainBaker & McKenzie (Cruzat,Ortúzar y MackennaLtda.)Enrique MunitaPhilippi, Yrarrazaval,Pulido & BrunnerCristian OlavarriaPhilippi, Yrarrazaval,Pulido & BrunnerGerardo Ovalle MahnsYrarrázaval, Ruiz-Tagle,Goldenberg, Lagos &SilvaLuis Parada HoylBahamondez, Alvarez &ZegersPablo ParedesAlbagli ZaliasnikAbogadosBeatriz RecarBaker & McKenzie (Cruzat,Ortúzar y MackennaLtda.)Sebastián RiescoEyzaguirre & Cía.Claudio RiveraCarey y Cía Ltda.Edmundo Rojas GarcíaConservador de BienesRaíces de SantiagoAlvaro RosenblutAlbagli ZaliasnikAbogadosCarlos SaavedraCruz & Cia. AbogadosAdriana SaliasRedlines GroupMartín Santa María O.Guerrero, Olivos, Novoa yErrázurizCarlos SaveedraCruz & Cía AbogadosEsteban TomicCruz & Cia. AbogadosJorge ValenzuelaPhilippi, Yrarrazaval,Pulido & BrunnerSebastián ValdiviesoYrarrázaval, Ruiz - Tagle,Goldenberg, Lagos &SilvaOsvaldo VillagraPricewaterhouseCoopersArturo YrarrázavalCovarrubiasYrarrazaval, Ruiz - TagleGoldenburg, Lagos & SilvaSebastián YungeGuerrero, Olivos, Novoa yErrázurizRony Zimerman M.Alvarez Hinzpeter JanaChinaRussell BrownLehmanBrownRobin CaiBNP ServiceRico ChanBaker & McKenzieJohn ChanFuzhou Relax Co., Ltd.Rex ChanPricewaterhouseCoopersYixin ChenDavis Polk & WardwellCaro ChenDniya Ornaments Co., Ltd.Lisa ChenJiahua Co.Jie ChenJun He Law Offices, memberof Lex MundiBarry CheungKPMG HuazhenBolivia CheungKPMG HuazhenTaylor ChuangInnovation MedicalInstrument Co., Ltd.Yw ChungBaker Botts LLPTony DiaoShaughnessy Holdings Ltd.Wayne ForfineForfine Marketing &ServiceWei GaoZY & PartnersLeo GeGlobal Star Logistics Co.Ltd.Alex GeeShanghai PegasusMaterials Co., Ltd.Alexander GongBaker & McKenzieKejun GuoDeHeng Law OfficesFelix HuShanghai Meiyao AviationCo., Ltd.Simon HuangLehmanBrownHaining XinGuangYuanLighting Co., Ltd.Kone JerryZhejiang GangzidaIndustry & Trade Co., Ltd.Zhou JianmingNingbo Jingcheng MeterJohn T. KuzmikBaker Botts LLPJohn KuznikBaker Botts LLPJony LeeSanli GroupBerry LinSDV Ltd.Zhiqiang LiuKing & WoodLucy LuKing & WoodGeorge LuoPinsent MasonsMikkaworks OrganicsNicky NingLuoyang Chundi Import &Export Co., Ltd.Nonnon PanMedplus Inc.Catherine RownHan ShenDavis Polk & WardwellCathy ShiOrrick, Herrington &Sutcliffe LLPFrank ShuPaul HastingJessie TangGlobal Star Logistics Co.Ltd.Youshan TangNingbo Flight Rigging &Tool Co., Ltd.Emily TangOrrick, Herrington &Sutcliffe LLPLu TerryShenyang Longyuan GroupCo., Ltd.Wafangdian Yushi EnergyCo., Ltd.Celia WangPricewaterhouseCoopersFenghe WangDacheng Law OfficesWilliam WangPricewaterhouseCoopersLuke WangShanghai Deso IndustryCo., LtdWaynex Industrial Co., Ltd.Cassie WongPricewaterhouseCoopersKent WooKingson Law FirmAnnie XunQing YangYang Fit Co., Ltd.Bill YaoSimple Technic Co., Ltd.Susan YeKPMG HuazhenJerry YeOrrickJonathan YouOrrick, Herrington &Sutcliffe LLPXianghau YuShanghai Xu Xiao Qing LawOfficeXianghua YungeShanghai Xu Xiao Qing LawOfficeLibin ZhangBaker Botts LLPYi ZhangKing & Wood PRC LawyersJohnson ZhengXiamen All CarbonCorporationColombiaCarlos AlcalaJosé Lloreda Camacho& Co.Mauricio AnguloComputec - DataCréditoPatricia Arrázola-BustilloGómez-Pinzón AbogadosLuis Alfredo BarragánBrigard & Urrutia, memberof Lex MundiPablo Barraquer-UprimnyBrigard & Urrutia, memberof Lex MundiGuillermo Hernando BayonaCombarizaNotaria 44 de BogotáJuliana Bazzani BoteroJosé Lloreda Camacho& Co.Juan Guillermo BecerraPricewaterhouseCoopersClaudia BenavidesGómez-Pinzón AbogadosNicolás BoteroHolguín, Neira & PomboAbogadosCarlos Rodríguez CaleroPricewaterhouseCoopersMaria Paula CamachoCámara Colombiana de laConstrucciónBibiana CamachoCavelier AbogadosCarolina CamachoPosse Herrera & RuizDarío CárdenasCárdenas & Cárdenas(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 161Natalia CaropreseBaker & McKenzieFelipe CuberosPrieto & Carrizosa S.A.María Helena Díaz MéndezPricewaterhouseCoopersJose DuranExcellentia StrategicLucas Fajardo-GutierrezBrigard & Urrutia, memberof Lex MundiGustavo FlorezSociedad PortuariaRegional de CartagenaCarlos Fradique-MéndezBrigard & Urrutia, memberof Lex MundiAna GiraldoPrieto & Carrizosa S.A.Santiago GutiérrezJosé Lloreda Camacho& Co.Viviana Hernández GrajalesCámara Colombiana de laConstrucciónWilson Herrera RoblesPriceWaterhouse CoopersSantiago HigueraCámara Colombiana de laConstrucciónMario HoyosJosé Lloreda Camacho& Co.Jorge Lara-UrbanejaBaker & McKenzieAlessandra LaureiroGómez-Pinzón AbogadosCristina LloredaBrigard & Urrutia, memberof Lex MundiSantiago LopezPricewaterhouseCoopersLegal ServicesNatalia LópezPosse Herrera & RuizGabriela ManceroCavelier AbogadosCarlos MonroyConika ConstruccionesAna Maria NavarretePosse Herrera & RuizLuis E. NietoNieto & ChalelaAna Maria OlayaPosse Herrera & RuizJuan Carlos ParedesBrigard & Urrutia, memberof Lex MundiCarlo PoloComputec – DataCréditoRaul QuevedoJosé Lloreda Camacho& Co.Fernan RestrepoBrigard & Urrutia, memberof Lex MundiCristina Rueda LondonoBaker & McKenzieJuan Carlos RuizJosé Lloreda Camacho& Co.José Roberto Sáchica MéndezBaker & McKenziePaula Samper SalazarGómez-Pinzón AbogadosFelipe Sandoval VillamilGómez-Pinzón AbogadosJosé Luis SuárezGómez-Pinzón AbogadosRaúl Alberto Suárez ArcilaJose Alejandro TorresPosse Herrera & RuizBeatriz Uribe BoteroCámara Colombiana de laConstrucciónClaudia VargasPricewaterhouseCoopersDiego VegaPricewaterhouseCoopersLegal ServicesAlberto ZuletaGómez-Pinzón AbogadosComorosHarimia Ahmed AliCabinet Me HarimiaRemy GrondinVitogaz ComoresAhamada MahamoudouAvocat à la CourYoussouf YahayaImpots de la GrandeComoreCongo, Dem. Rep.Jean Adolphe BitenuANAPIEtienne BlocailleFIDAFRICA /PricewaterhouseCoopersAlain BuhendwaCabinet Mwaka &AssociatesDeo BukayafwaMBM ConseilJean Michel CardinoSociété Minière deDéveloppement/RJ TradersVictor Créspel MusafiriCabinet d’avocat JCC & ARegis de OliveiraAgetraf s.a.r.l. - SDVYves DebiesmeAgetraf s.a.r.l. - SDVHervé DiakieseAvocat à la CourPapy Djuma BilaliCabinet MasambaDavid GuarnieriFIDAFRICA /PricewaterhouseCoopersAmisi HeradyANAPISandra KabuyaCabinet Mwaka &AssociatesRobert KatambuCabinet Mwaka &AssociatesPierre Kazadi TshibandaCabinet MasambaArly KhutyFrancis Lugunda LubambaCabinet Lugunda LubambaAngèle Mabondo NgoyiCabinet MasambaNkusu MakengoCabinet MasambaBabala MangalaGTS ExpressRoger Masamba MakelaAvocat Doyen de FacultéJean Paul MatangaCabinet Mwaka &AssociatesPaulin MbalandaMBM ConseilDidier MopitiMBM ConseilLouman MpoyCabinet Mpoy - Louman &AssociésJean Bosco MwakaCabinet Mwaka &AssociatesVictorine Bibiche NsimbaKilembeBarreau de Kinshasa/MateteSociété Nationaled’Electricité (SNEL)Christie Madudu SulubikaCabinet G.B. Moka Ngolo &AssociésDominique TatyFIDAFRICA /PricewaterhouseCoopersMarius Tshiey-A-TshieyCabinet Mbaki et AssociésToto Wa KinkelaCabinet TotoCongo, Rep.Prosper BizitouFIDAFRICA /PricewaterhouseCoopersDavid BourionFIDAFRICA /PricewaterhouseCoopersMohammad DaoudouFIDAFRICA /PricewaterhouseCoopersJean-Philippe EsseauCabinet EsseauMathias EsserekeCabinet d’Avocats ClaudeCoelhoLudovic Désiré EssouCabinet EssouPhilippe Fouda FoudaBEACEtude de Maitres SéraphinMcakosso-Douta etNorbert M’FoutouHenriette Lucie Arlette GalibaOffice Notarial Me GalibaCaroline Idrissou-BelingarBEACSylvert Bérenger KymbassaBoussiEtude Maitre BéatriceDianzolo, Huissier deJusticeFrançois LavanantSDVEmmanuel Le BrasFIDAFRICA /PricewaterhouseCoopersBruno OssebiCabinet EssouChimène Prisca Nina PonguiEtude de Me ChimènePrisca Nina PonguiRoberto ProtaSDVCosta RicaBufete Facio & Cañas,member of Ius Laboris &Lex MundiAlejandro AntillonPacheco CotoCarlos BarrantesPricewaterhouseCoopersAlejandro Bettoni TraubeDoninelli & Doninelli- Asesores JurídicosAsociadosCaroline BonoPricewaterhouseCoopersEduardo Calderón-OdioBLP AbogadosGastón CertadBatalla & AsociadosSilvia ChaconAlfredo Fournier &AsociadosMaría Fernanda Chavarría BCordero & CorderoAbogadosDaniel ChavesCINDERicardo Cordero B.Cordero & CorderoAbogadosDaniel De la GarzaJD CANOMelania DittelArias & MuñozAnamari EcheverríaParque Empresarial ForumAlejandro Fernández deCastroPricewaterhouseCoopersOctavio FournierAlfredo Fournier &AsociadosNeftali GarroBLP AbogadosAndrés GómezPricewaterhouseCoopersAndrea González-RojasBLP AbogadosJorge GuzmánLEX CounselMaría del Mar HerreraBLP AbogadosRandall Zamora HidalgoCosta Rica ABCRoberto LeivaFacio & Cañas, member ofLex MundiVicente LinesArias & MuñozAndrés LópezBLP AbogadosIvannia Méndez RodríguezOller AbogadosJorge MontenegroSCGMT Arquitectura yDiseñoEduardo Montoya SolanoSuperintendencia Generalde Entidades FinancierasCecilia NaranjoLEX CounselPedro OllerOller AbogadosRamón OrtegaPricewaterhouseCoopersMarianne Pál - HegedüsAguilar Castillo LoveAndrea PaniaguaPricewaterhouseCoopersFelix Pecou JohnsonJapdeva Caribbean PortAuthorityLaura PerezCINDEJulio PinedoPricewaterhouseCoopersMonica RomeroPricewaterhouseCoopersMiguel Ruiz HerreraLEX CounselAndrea SaenzAguilar Castillo LoveMauricio SalasBLP AbogadosJose Luis SalinasSCGMT Arquitectura yDiseñoWalter Anderson SalomonsJapdeva Caribbean PortAuthorityAna Victoria SandovalJD CANOJuan TejadaPricewaterhouseCoopersNatalia Van der LaatBLP AbogadosMarianela VargasPricewaterhouseCoopersSebastián WongJD CANORodrigo ZapataLEX CounselJafet Zúñiga SalasSuperintendencia Generalde Entidades FinancierasCôte d’IvoireAny Ray & PartnersCésar AsmanCabinet N’Goan, Asman &AssociésJoachim Bile-AkaBnetdJonathan DarbouxBCEAOFatimatou Zahra DiopBCEAODorothée K. DreesenEtude Maitre Dreesen(c) The International Bank for Reconstruction and Development / The World Bank

162 Doing Business 2009Bertrand FleurySDV - SAGA CIJean Claude GnamienFIDAFRICA /PricewaterhouseCoopersHermann GnangoFIDAFRICA /PricewaterhouseCoopersSeyanne GrogaCabinet Jean-FrançoisChauveauGuillaume KoffiConseil National DeL’Ordre des ArchitectesHerman KouaoEvelyne M’BassidgéFIDAFRICA /PricewaterhouseCoopersAdeline MessouFIDAFRICA /PricewaterhouseCoopersGeorges N’GoanCabinet N’Goan, Asman &AssociésPatricia N’guessanCabinet Jean-FrançoisChauveauJacques OtroConseil National DeL’Ordre des ArchitectesAthanase RauxCabinet Raux, Amien &AssociésSerge RouxEtude Maitre RouxDominique TatyFIDAFRICA /PricewaterhouseCoopersFousséni TraoréFIDAFRICA /PricewaterhouseCoopersNadia VanieCabinet N’Goan, Asman &AssociésAbbé YaoSCPA Dogué-Abbé Yao &AssociésCroatiaBoris AndrejasBabić & PartnersIvo BijelićPricewaterhouseCoopersNatko BilićStudio 3lhdAndrej BolfekLeko & PartnersMarko BorskyDivjak, Topic &BahtijarevicMarijana BožićDTBBelinda ČačićČačić & PartnersJasmina CrnalićCMS ZagrebStefanija ČukmanJurić Law OfficesMartina ČulapLeko & PartnersGordana DelićTransadriaSaša DivjakDivjak, Topic &BahtijarevicAmela DizdarevićSihtar Attorneys at LawIvana DominkovićCMS ZagrebIvan DušićVukmir Law OfficeHrvoje FilipovićLaw Offices NogolicaTamiko Rochelle FranklinLegal ConsultantBojan FrasZuric & PartnersIvan GjurgjanPorobija & Porobija LawFirmKresimir GolubićLidija HanžekHROKHEP Distribution SystemOperator Ltd.Anita Heršak KlobučarevićPorobija & Porobija LawFirmJana HitrecČačić & PartnersBranimir IvekovićIveković & VidanIrina JelčićHanžeković, Radaković &Partners, member of LexMundiMarijana JelićLaw Office JelicSanja JurkovićPricewaterhouseCoopersMirna KettePricewaterhouseCoopersMargita Kiš-KapetanovićPorobija & Porobija LawFirmMiroslav LekoLeko & PartnersKrešimir LjubićLeko & PartnersMarko LovirićDivjak, Topic &BahtijarevicMiroljub MačešićMačešić & Partners,Odvjetnicko drustvoJosip MarohnićDivjak, Topic &BahtijarevicTin MatićTin Matić Law OfficeAndrej MatijevichMatijevich Law OfficeIain McGuirePricewaterhouseCoopersMartina Mladina KavurićMamić Reberski & PartnersIvana MucićCMS ZagrebLjiljana NogolicaGeoleges d. o. o.Zvonko NogolicaLaw Offices NogolicaMarija PetrovićDivjak, Topic &BahtijarevicSanja PorobijaPorobija & Porobija LawFirmTihana PosavecDivjak, Topic &BahtijarevicMarko PraljakDivjak, Topic &BahtijarevicRonald PusićPricewaterhouseCoopersGordan RotkvićPricewaterhouseCoopersDjuro SessaCounty Court in ZagrebAna SihtarSihtar Attorneys at LawManuela ŠpoljarićLeko & PartnersMario StefanićTransadriaGoran ŠverkoLaw Offices NogolicaLuka Tadić-ČolićBabić & PartnersZoran TasićCMS ZagrebIva TokićPorobija & Porobija LawFirmHrvoje VidanIvekovic and VidanArn WillemsCB Richard Ellis d.o.o.Czech RepublicAllen & Overy, PrahaAdvokátní kancelářTomas BabacekAmbruz & Darkadvokáti, v.o.s.PricewaterhouseCoopersLegal ServicesLibor BaslBaker & McKenzieMartin BohuslavAmbruz & Darkadvokáti, v.o.s.PricewaterhouseCoopersLegal ServicesStephen B. BoothPricewaterhouseCoopersJiří ČernýPeterka & PartnersMatěj DaněkProcházka Randl Kubr,member of Ius Laboris &Lex MundiSvatava DokoupilovaCzech Office forSurveying, Mapping andCadastreJitka ErnestovaPeterka & PartnersKristýna FišerováPeterka & PartnersJakub HajekAmbruz & Darkadvokáti, v.o.s.PricewaterhouseCoopersLegal ServicesMichal HankoBubnik, Myslil & PartnersJarmila HanzalovaProcházka Randl Kubr,member of Ius Laboris &Lex MundiVlastimil HokrBDO Prima Audit s.r.o.Vít HoráčekGlatzová and Co. LawOfficesHana HrbacovaAmbruz & Darkadvokáti, v.o.s.PricewaterhouseCoopersLegal ServicesIva HromkováGlatzová and Co. LawOfficesLudvik JuřičkaAmbruz & Darkadvokáti, v.o.s.PricewaterhouseCoopersLegal ServicesRobert JurkaBDO Prima Audit s.r.o.Jiri KlimicekSquire, Sanders & Dempsey,v.o.s. advokát kancelářMiroslav KocmanIccrue s.r.o.Adela KrbcováPeterka & PartnersPetr KuceraCCB - Czech BankingCredit BureauLenka MrazovaPricewaterhouseCoopersDavid MusilPricewaterhouseCoopersJarmila MusilovaNational BankStanislav MyslilCermak Horejs Myslil aspol.Jörg NürnbergerDLA PiperAthanassios PantazopoulosIKRP Rokas & Partners andDr. A. PantazopoulosMarketa PenazovaAmbruz & Darkadvokáti, v.o.s.PricewaterhouseCoopersLegal ServicesJan PetříkBrzobohatý Brož & Honsa,v.o.s.Kristýna PohlováGlatzová and Co. LawOfficesPavla PřikrylováPeterka & PartnersJan ProcházkaAmbruz & Darkadvokáti, v.o.s.PricewaterhouseCoopersLegal ServicesNataša RandlováProcházka Randl Kubr,member of Ius Laboris &Lex MundiTomas RichterClifford Chance LLP/Institute of EconomicStudies, Faculty ofSocial Sciences, CharlesUniversityZdenek RosickySquire, Sanders & Dempsey,v.o.s. advokát kancelářLeona SevcikovaPanalpina s.r.o.Robert SgariboldiPanalpina s.r.o.Dana SládečkováNational BankMarie StrachotováPeterka & PartnersMiroslav TichýDLA PiperRůžena TrojánkováLinklatersKlára ValentováAmbruz & Darkadvokáti, v.o.s.PricewaterhouseCoopersLegal ServicesLudìk VránaLinklatersMarkéta ZachováVejmelka & Wünsch, s.r.o.Veronika ŽaloudkováIccrue s.r.o.DenmarkElsebeth Aaes-JørgensenNorrbom Vinding, memberof Ius LaborisChristine Lægteskov AonKromann Reumert, memberof Lex MundiPeter BangSteffen Bang-OlsenKromann Reumert, memberof Lex MundiThomas Bech OlsenPanalpina WorldTransport LtdChristel BerningPricewaterhouseCoopersJonas BøgelundGorrissen FederspielKierkegaardOle BorchBech-Bruun Law FirmThomas BookerACCURAAdvokataktieselskabChristian Bredtoft GuldmannKromann Reumert, memberof Lex MundiMogens EbelingJonas BruunEivind EinersenPhilip & PartnereHenrik Faust PedersenPricewaterhouseCoopersLars FoghACCURAAdvokataktieselskabAlice FolkerGorrissen FederspielKierkegaardArne GehringPricewaterhouseCoopersJens HjortskovPhilip & Partnere(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 163Heidi HoelgaardExperian Northern EuropeJens Steen JensenKromann Reumert, memberof Lex MundiJeppe JørgensenBech-Bruun Law FirmAnn KellPricewaterhouseCoopersAage KroghMagnussonChristine LarsenSusanne Schjølin LarsenKromann Reumert, memberof Lex MundiLars LindencroneBech-Bruun Law FirmAndreas NielsenJonas BruunTim NielsenKromann Reumert, memberog Lex MundiBetri Pihl SchultzePricewaterhouseCoopersSoren PlomgaardJonas BruunLouise Krarup SimonsenKromann Reumert, memberof Lex MundiNiels Bang SørensenGorrissen FederspielKierkegaardJesper Trommer VolfAccuraAdvokataktieselskabKnud Villemoes HansenNational Survey andCadastre - Denmark/Kort& MatrikelstyrelsenAnders WorsøeMagnussonDjiboutiRahma Abdi AbdillahiBanque CentraleWabat DaoudAvocat à la CourBruno DétroyatIbrahim Hamadou HassanIbrahim Mohamed OmarCabinet CECAOubah Mohamed OmarSociété Maritime L. Savon& RiesAicha YoussoufCabinet CECADominicaEddie BeaupierreElement AgenciesAlix Boyd-KnightsKathy BuffongAttorney General’sChambersGerald D. BurtonGerald D. Burton’sChambersDevelopment and PlanningDivisionGina DyerDyer & DyerMarvlyn EstradoKPB CharteredAccountantsKerry GeorgeC I S Enterprises Ltd.F. Adler HamletRealco Company LimitedFoued IssaIssa Trading Ltd.Alick C. LawrenceLawrence Alick C.ChambersSeverin McKenzieMcKenzie Architectural &Construction Services Inc.Richard PeterkinPricewaterhouseCoopersJoan K.R. PrevostPrevost & RobertsJ. Gildon RichardsJ. Gildon RichardsChambersMark RiddleDOMLECEugene G. RoyerEugene G. Royer CharteredArchitectLinda SingletaryC I S Enterprises Ltd.Jason TimothyDOMLECOssie WalshSupreme Court/ RegistryReginald WinstonSupreme Court/ RegistryDominicanRepublicCarla AlsinaBiaggi & MessinaHilda Patricia PolancoMoralesSánchez Raful Sicard &PolancoMario ArizaHeadrick Rizik Alvarez &FernándezCaroline BonoPricewaterhouseCoopersAna Isabel CaceresTroncoso y CaceresJuan Manuel CaceresTroncoso y CaceresGiselle CastilloSuperintendencia deBancosLeandro CorralEstrella & TupeteJosé Cruz CampilloJiménez Cruz PeñaSarah de LeónHeadrick, Rizik, Alvarez &FernandezRosa DíazJiménez Cruz PeñaRafael Dickson MoralesMG&A Medina Garnes &Asociados AbogadosEdward FernandezBiaggi & MessinaAlejandro Fernández deCastroPricewaterhouseCoopersMary Fernández RodríguezHeadrick Rizik Alvarez &FernándezGloria GassoHeadrick Rizik Alvarez &FernándezPablo Gonzalez TapiaBiaggi & MessinaFabio Guzmán-ArizaGuzmán ArizaMónika InfanteSaxum LegalPhilippe LescurasPanalpinaXavier Marra MartínezDhimes & MarraFernando MarranziniHeadrick Rizik Alvarez &FernándezCarlos MartePanalpinaPatricia Media CosteHeadrick Rizik Alvarez &FernándezFabiola MedinaMG&A Medina Garnes &Asociados AbogadosRamón OrtegaPricewaterhouseCoopersAndrea PaniaguaPricewaterhouseCoopersValeria Pérez ModenaJiménez Cruz PeñaCarolina PichardoBiaggi & MessinaEdward PiñaBiaggi & MessinaRafael PiñaHeadrick Rizik Alvarez &FernándezJulio PinedoPricewaterhouseCoopersSabrina Angulo PucheuSánchez Raful Sicard &PolancoMaria PortesCastillo y CastilloSóstenes Rodriguez SeguraRussin, Vecchi and HerediaBonettiWilferdo SeniorConsultantMaricell Silvestre RodriguezJiménez Cruz PeñaJuan TejadaPricewaterhouseCoopersVilma Veras TerreroJiménez Cruz PeñaTransUnionGuiraldis Velásquez RamosDhimes & MarraVilma Verras TerreroJiménez Cuz PeñaPatricia VillarPanalpinaEcuadorPablo AguirrePricewaterhouseCoopersChristof BaerPricewaterhouseCoopersHernán Batallas-GómezFalconi Puig AbogadosXavier Bravo RualesSuperintendencia deBancos y SegurosDiego Cabezas-KlaereOrtega Moreira & OrtegaTrujilloSilvana Coka G.Geotransport S.A.Fernando CoralPanalpinaLucía Cordero LedergerberFalconi Puig AbogadosFernando Del Pozo ContrerasGallegos, Valarezo &NeiraGonzalo Diez P.Gonzalo DiezMiguel Falconi-PuigFalconi Puig AbogadosJorge Eduardo FernándezPerdomoAcredita Buró deinformación crediticia S.AJuan Carlos Gallegos HappleGallegos, Valarezo &NieraLeopoldo González R.Paz HorowitzFrancisco Grijalva M.Ius & LawIván A. IntriagoIus & LawMaggio Irigoyen V.APIVanessa Izquierdo D.Bustamante & BustamanteAlvaro JarrínSuperintendencia deBancos y SegurosJuan Manuel MarchánPérez, Bustamante y Ponce,member of Lex MundiChristian MoralesPanalpinaFrancisco Javier NaranjoGrijalvaPaz HorowitzPriscilla OrtegaArízaga & Co. AbogadosPablo Padilla MuirraguiEcuador Cargo SystemJorge Paz DuriniPaz HorowitzBruno Pineda-CorderoPérez, Bustamante y Ponce,member of Lex MundiXavier Amador PinoEstudio Juridico AmadorDaniel Pino ArrobaCoronel y PérezJorge Pizarro PáezBustamante & BustamantePatricia Ponce ArtetaBustamante & BustamanteSandra ReedPérez, Bustamante y Ponce,member of Lex MundiGustavo RomeroRomero Arteta PonceMyriam Dolores RosalesGarcésSuperintendencia deBancos y SegurosVeronica Sofia Ruales DíazBustamante & BustamanteMontserrate SánchezCoronel y PérezPablo F. Sarzosa J.API EcuadorSuperintendencia deCompañiasCésar Vélez CalderónCovelcalEgyptAbdel Aal AlyAfifi World TransportNaguib AbadirNacita CorporationWalid AbbasAdvanced GroupGirgis Abd El-ShahidSarwat A. Shahid Law FirmSara Abdel GabbarTrowers & HamlinsAhmed Abdel WarithAAW Consulting EngineersRamez Mounir Abdel-NourKarim Adel Law OfficeMohamed Abo -ShadyModern Agricultural Est.Ahmed Abou AliHassouna & Abou AliGamal Abou AliHassouna & Abou AliNermine AbulataMinistry of Trade &IndustryGhada AdelPricewaterhouseCoopersHazem AhmedHassouna & Abou AliMahmoud Ahmed BassiemAshraf El Al ArabiMinistry of FinanceAbd El Wahab Aly IbrahimAbd El Wahab SonsTim ArmsbyTrowers & HamlinsAmr Mohamed MahmoudAttaKarim Adel Law OfficeAdel AwadallaS.S.I.B.Ziad Bahaa El DianGeneral Authority forInvestment and Free ZonesLouis BisharaBTMIbrahim Hassan DakrKarim Adel Law Office(c) The International Bank for Reconstruction and Development / The World Bank

164 Doing Business 2009Hussein Mahmoud Gaafar ElGebalyMinistry of Housing,Utilities, and UrbanDevelopmentMohamed EL GindyWaad Trade &Development Co.Mohamed El HomosanyMinistry of JusticeMohamed Refaat El HoushyThe Egyptian CreditBureau "I-Score"Amr El MonayerMinistry of FinanceHasan El ShafieyNadoury Nahas Law officesKarim ElhelalyPricewaterhouseCoopersAshraf ElibrachyIbrachy Law FirmMohamed El-LabboudyNadoury & Nahas LawOfficesHassan FahmyMinistry of InvestmentHeba FoaadPricewaterhouseCoopersAshraf Gamal El-DinEgyptian Institute ofDirectorsYaser Gamaluddin HamamThe Egyptian Law FirmAhmed GawishMinistry of TransportHend Abdel GhanyMena Associates,member of AmerellerRechtsanwälteKarim Adel Kamel GhobrialKarim Adel Law OfficeZeinab Saieed GoharCentral BankRimon HakimSarwat Group for Exportand ImportEmad HassanMinistry of Statefor AdministrativeDevelopmentOmneia HelmyThe Egyptian Center forEconomic StudiesLobna Mohamed HilalCentral BankMamdoh Farghli KassemThe Egyptian Law FirmSherif MansourPricewaterhouseCoopersNouran MohamedPricewaterhouseCoopersMohamed MohamedPrivate PracticeMostafa MostafaAl Kamel Law OfficeAshraf NadouryNadoury & Nahas LawOfficesMariama SabetMohamed SerrySerry Law OfficeWael ShakerIsland GroupSafwat SobhyPricewaterhouseCoopersSouth Cairo ElectricityDistribution CompanyCath WelchPricewaterhouseCoopersEman ZakariaMinistry of Manpower &MigrationMona ZobaaMinistry of InvestmentEl SalvadorCarlos Roberto AlfaroPricewaterhouseCoopersAna Margoth ArévaloSuperintendencia delSistema FinancieroFrancisco Armando AriasRiveraArias & MuñozIrene Arrieta de Díaz NuilaArrieta BustamanteFrancisco José BarrientosAguilar Castillo LoveCaroline BonoPricewaterhouseCoopersDiana CastroLexincorpRicardo CevallosConsortium CentroAmérica AbogadosWalter Chávez VelascoGold Service / MSIDavid ClarosGarcía & BodánGeraldo CruzGarcía & BodánKarla de MartínezArrieta BustamanteMayra de MoránPresidential Program "ElSalvador Eficiente"Maria Marta DelgadoArias & MuñozAlejandro Fernández deCastroPricewaterhouseCoopersRoberta Gallardo deCromeyerArias & MuñozErnesto HempePricewaterhouseCoopersCarlos HenriquezGold Service / MSIJuan Carlos HerreraArias & MuñozThelma Dinora Lizama deOsorioSuperintendencia delSistema FinancieroKarla MartinezArrieta BustamanteDaniel MartinezGarcía & BodánLuis MedinaRusconi, Valdez, Medina &AsociadosAstrud María MeléndezAsociación Protectora deCréditos de El Salvador(PROCREDITO)José Walter MeléndezCustomsMauricio MelhadoGold Service / MSICamilo MenaGold Service / MSIAntonio R. Mendez LlortRomero Pineda &Asociados, member of LexMundi and Terra LexMiriam Eleana Mixco ReynaGold Service / MSIJocelyn MónicoAguilar Castillo LoveRamón OrtegaPricewaterhouseCoopersAndrea PaniaguaPricewaterhouseCoopersCarlos PastranaJulio PinedoPricewaterhouseCoopersFrancisco Eduardo PortilloCEPAAna Patricia Portillo ReyesGuandique SegoviaQuintanillaFlor de Maria RodriguezArias & MuñozKelly RomeroRusconi, Valdez, Medina &AsociadosAdonay RosalesPricewaterhouseCoopersOscar SamourConsortium CentroAmérica AbogadosJuan TejadaPricewaterhouseCoopersManuel Telles SuvillagaLexincorpMauricio Antonio UrrutiaSuperintendencia delSistema FinancieroJulio ValdésArias & MuñozJuan VásquezGold Service / MSIEquatorialGuineaLeoncio-Mitogo Edjang AvoroAttorney-at-LawPhilippe Fouda FoudaBEACCaroline Idrissou-BelingarBEACSébastien LechêneFIDAFRICA /PricewaterhouseCoopersFranck MamelinPanalpina TransportesMundiales S.A.R.L.Ponciano Mbomio NvoGabinete JuridicoFrançois MünzerFIDAFRICA /PricewaterhouseCoopersDominique TatyFIDAFRICA /PricewaterhouseCoopersEritreaRahel AberaBerhane Gila-MichaelLaw FirmBerhane Gila-MichaelBerhane Gila-MichaelLaw FirmSenai W. AndemariamUniversity of AsmaraKebreab Habte MichaelMichael JosephErnst & YoungTekeste MesghennaMTD Enterprises PLCEstoniaAnne AdamsonSorainen Law OfficesAngela AgurMAQS Law FirmMike AhernPricewaterhouseCoopersKatrin AltmetsSorainen Law OfficesJane EespõldSorainen Law OfficesSilja ElunurmGlikman & PartnersDiana FreivaldMinistry of JusticeCameron GreavesPricewaterhouseCoopersPirkko-Liis HarkmaaLepik & Luhaäär LAWINTriinu HiobLepik & Luhaäär LAWINAndres JussEstonian Land BoardAidi KallavusKPMG ASGerli KiluskLepik & Luhaäär LAWINRisto KoovitCorvus Grupp TransportErmo KoskLepik & Luhaäär LAWINTanja KriisaPricewaterhouseCoopersMikk LäänemetsLaw Office Tark & Co.Liina LinsLepik & Luhaäär LAWINKarin MadissonSorainen Law OfficesOlger MarjakLaw Office Tark & Co.Marko MehilaneLepik & Luhaäär LAWINVeiko MeosKrediidiinfo A.S.Jaanus ModyLuiga Mody Hääl BoreniusMargus MuguLuiga Mody Hääl BoreniusKaspar NoorMAQS Law FirmArne OtsRaidla & PartnersKirsti PentLaw Office Tark & Co.Daniel PolawskiPaul VarulKristiina PuusteKPMG ASAnts RatasCF & S ASHeidi RätsepCentre of Registers andInformation systemMartin SimovartLepik & Luhaäär LAWINMonika TammLepik & Luhaäär LAWINMarjaa TederLuiga Mody Hääl BoreniusTanel TikanLepik & Luhaäär LAWINVilli TõntsonPricewaterhouseCoopersVeikko ToomereMAQS Law FirmKarolina UllmanMAQS Law FirmNeve UudeltRaidla & PartnersToomas VaherRaidla & PartnersPaul VarulPaul VarulUrmas VeinbergMAQS Law FirmAndres VinkelHansa Law OfficesVesse VõhmaJoel ZernaskKPMG ASEthiopiaNethanet AlemuDaniel AlemuAttorney-at-LawAto Wondimeneh AsratNational BankBekure AssefaBekure Assefa Law OfficeYonas Kidane DemiyesusDashen Bank S.C.Shimelise EsheteMIDROC Construction PLCTeshome G.M. BokanTGMB Law OfficeNega GetahunCity Administration ofAddis AbabaBerhane GhebrayBerhane Ghebray &AssociatesYosef KebedeDashen Bank S.C.Emebet KetemaTadesse KirosTadesse, Getachew & AbateLaw OfficeTaddesse LenchoAddis Ababa University(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 165Molla MengistuAddis Ababa UniversityFikremarkos MersoAddis Ababa UniversityWoldegabriel NaizghiHST & Co.Getahun NanaNational BankMehari RedaeAddis Ababa UniversityAbiot SeleshiNational BankSeyoum Yonhannes TesfyAddis Ababa UniversityMekbib TsegawAttorney-at-LawAklilu Wolde AmanuelAklilu WoldemariamEthiopian InvestmentAgencyFijiDavid AidneyWilliams & Gosling Ltd.Eddielin AlmontePricewaterhouseCoopersJohn AptedMunro Leys NotariesPublicNehla BasawaiyaMunro Leys NotariesPublicWilliam Wylie ClarkeHowards LawyersJamnadas DilipJamnadas and AssociatesDelores ElliottDatabureau, BaycorpAdvantageIsireli FaThe Fiji Law Society / FA& Company Barristers &SolicitorsAnthea S. FongCrompton SolicitorsFreddy FonmoaWilliams & Gosling Ltd.Jerome KadoPricewaterhouseCoopersSashi LochanTitles OfficeLitiana MorrisHowards LawyersRichard NaiduMunro Leys NotariesPublicRamesh PrakashMishra Prakash &AssociatesRamesh Prasad LalCarpenters ShippingColin RadfordLHM, Larsen HoltomMaybin & company limited,Architec, Engineers &interior designersAbhi RamCompanies RegistrarRoneel RamFEA (Fiji ElectricityAuthority)Ana RasovoHowards LawyersJenny SeetoPricewaterhouseCoopersVarun ShandilMunro Leys NotariesPublicShelvin SinghParshotam & Co.Narotam SolankiPricewaterhouseCoopersMoto SolvaluWilliams & Gosling Ltd.Mark SwamyLHM, Larsen HoltomMaybin & company limited,Architec, Engineers &interior designersJay UditHigh CourtChirk YamPricewaterhouseCoopersEddie YuenWilliams & Gosling Ltd.FinlandSakari AaltoRoschier Attorneys Ltd.,member of Ius Laboris &Lex MundiVille AhtolaCastrén & SnellmanAttorneys Ltd.Manne AiraksinenRoschier Attorneys Ltd.,member of Ius Laboris &Lex MundiClaudio BusiCastrén & SnellmanAttorneys Ltd.Mikko EerolaWaselius & WistTiina HakriRoschier Attorneys Ltd.,member of Ius Laboris &Lex MundiJohanna Haltia-TapioHannes Snellman,Attorneys-at-Law Ltd.Tuija HartikainenPricewaterhouseCoopersOlav HermansonRoschier Attorneys Ltd.,member of Ius Laboris &Lex MundiJani HovilaHannes Snellman,Attorneys-at-Law Ltd.Pekka JaatinenCastrén & SnellmanAttorneys Ltd.Juuso JokelaSuomen Asiakastieto Oy -FinskaMilla Kokko-LehtinenPricewaterhouseCoopersElina KumpulainenPricewaterhouseCoopersLegal ServicesRisto LöfPricewaterhouseCoopersTuomas LukkarinenNational Land SurveyLasse LuukkainenCastrén & SnellmanAttorneys Ltd.Jyrki MustonenHedman Osborne ClarkeEva Nordman-RajaharjuRoschier Attorneys Ltd.,member of Ius Laboris &Lex MundiIlona PaakkalaPricewaterhouseCoopersMikko PeltoniemiWaselius & WistMerja RaunioPricewaterhouseCoopersMikko ReinikainenPricewaterhouseCoopersTatu SimulaRoschier Attorneys Ltd.,member of Ius Laboris &Lex MundiSini SoiniRoschier Attorneys Ltd.,member of Ius Laboris &Lex MundiTimo TammelinMega Trend Nordica OySanna VäänänenPricewaterhouseCoopersHelena ViitaRoschier Attorneys Ltd.,member of Ius Laboris &Lex MundiGunnar WesterlundRoschier Attorneys Ltd.,member of Ius Laboris &Lex MundiKai WistPricewaterhouseCoopersFranceAllen & Overy LLPAPLFaiza AllegVaughan AvocatsChristophe AsselineauSimmons & SimmonsBertrand BarrierGide Loyrette Nouel,member of Lex MundiChristopher BakerSkadden, Arps, Slate,Meagher & Flom LLP/Fauvet La Giraudière &AssociésRoger J. BenrubiCleary Gottlieb Steen &Hamilton LLPFranck BuffandLamy LexelArnaud ChastelFrédérique Chifflot BourgeoisLawyer at the Bar of ParisFrancis CollinsLandwell & Associés -PricewaterhouseCoopersLegal ServicesLuis ComasPricewaterhouse CoopersLegal ServicesConfédérationFrançaise du CommerceInterentreprises (CGI)Christian CourivaudSCP Courivaud - Morange- VolniacAnn CreelmanVatier & AssociésIsabelle DidierVaughan AvocatsElectricité de FranceStephanie ErnouldBenoit FauveletBanque de FranceChristine FortuneSylvie GhesquiereBanque de FranceRaymond GiannoAffina LegalFlorence GrillierCabinet TAJSabrina HenocqDelsol & AssociésCécile JaouënSimmons & SimmonsMarc JobertJobert & AssociésRenaud JouffroyJennifer JuvénalLandwell & AssociésDaniel Arthur LaprèsCabinet d’AvocatsBenoît Le BarsLandwell & Associés -PricewaterhouseCoopersLegal ServicesAnne-Marie MoulinBanque de FrancePanalpinaMichele PenningsLandwell & Associés -PricewaterhouseCoopersLegal ServicesLaure Poindessault-BernardJacques PourcielParis NotaireEmmanuel RaingeardBernard ReynisFrédéric RousselFontaine, Roussel &AssociésHugues RouxBanque de FranceRizwan A Siddique3G - TeccIsabelle Smith MonnervilleVaughan AvocatsCaroline StéphaneDelsol & AssociésBruno ThomasLandwell & Associés -PricewaterhouseCoopersLegal ServicesMarcia WinitzerMarcia J. WinitzerPhilippe Xavier-BenderGide Loyrette Nouel,member of Lex MundiRoger J. BenrubiCleary Gottlieb Steen &Hamilton LLPGabonEyang Abessolo NaubyControleur des ImpotsCharles AdenetFIDAFRICA/PricewaterhouseCoopersY.A. AdetonaCabinet FidexceMarcellin MassilaAkendengueSEEG, Societe d’Energie etd’Eau du GabonStephanie Angue BoussougouInspecteur Central desImpotsGianni ArdizzonePanalpinaMarie Carmel KettyAyimambenweBanque Internationalepour le Commerce etl’IndustrieClaude BaroneHenri BernhardtGETMAAgnese Biye NgouHuissier de JusticeJean DelahayeBolloreLéopold EffahEtude Mekam’Ne & EffahAvocats AssociésSteeve Romuald EngandzaLoussouMinistere de l’Economiedes Finances, du Budget etde la PrivatisationPhilippe Fouda FoudaBEACAnne Gey BekaleNotaryCaroline Idrissou-BelingarBEACJacques LebamaMinistere de la Justice,Garde des SceauxAthanase Ndoye LourySyndic JudiciaireOrphée Yvan MandjiAgence de Promotions desInvestissements PrivésItchola ManoAvocatPélagie Massamba MouckockoFIDAFRICA /PricewaterhouseCoopersJean-Joel MebaleyDestiny ExecutivesArchitects - Agence duBord de MerJ.R. Lassi MikalaAvocat à la CourAbel MoulounguiNotaryAliette MounguenguiMagnogunouInspecteur Central desImpotsJean Hilaire MoussavouFumu TechnologieHaymand MoutsingaAvocat à la Cour(c) The International Bank for Reconstruction and Development / The World Bank

166 Doing Business 2009Steeve Romuald MvePublish What You PayReteno N’Diaye BriceDirection General desImpotsJoel NdongService etudes d’urbanismeat the Direction Generaled’UrbanismeRuben Mindonga NdongoCabinet Me AnguilerThierry NgomoArchiPro InternationalLubin NtoutoumeAvocatOlivier P. N’ZahouJuristeFerdinand ObiangMinistere de l’Economiedes Finances, du Budget etde la PrivatisationJosette Cadie OlendoCabinet OlendoCésar Apollinaire Ondo MveCour d’Appel Judiciaire deLibrevilleMarie-Jose Ongo MendouFFA Juridique & FiscalPaulette Oyane-OndoAttorney-at-LawCarine PeronUnion Gabonaise de BanqueLaurent PommeraFIDAFRICA /PricewaterhouseCoopersLaurette PoulainTransFormChristophe A. RelongouéFIDAFRICA /PricewaterhouseCoopersGomes Rene FidelAvocat au Barreaunational du GabonJustine Adondjo RetenoAvocatFrancois SalangrosGEE - Gabonaise d’Etudeset d’Expertises BatimentLaurent Boris SkittAgence de Promotions desInvestissements PrivésDominique TatyFIDAFRICA /PricewaterhouseCoopersDidier ThoreauGambia, theKelvin AbdallahPricewaterhouseCoopersVictoria AndrewsAmie Bensouda & Co.Gideon Ayi-OwooPricewaterhouseCoopersMomodou M. BahKanifing MunicipalCouncilAwa BahDepartment of State forJusticeAlpha Amadou BarryDeloitteAmie N.D. BensoudaAmie Bensouda & Co.Lamin B.S. CamaraDandimayo CambersNeneh-Cham Cham ChonganBasangsang ChambersEmmanuel E. ChimeChime ChambersSulayman B. ChuneTaf ConstructionA.N.M Ousainu DarboeBasangsang ChambersIda Denise DramehIda D. Drameh & AssociatesDzidzedze FiadjoePricewaterhouseCoopersMichel GayeBirgitta HardmarkMaersk LineHaruna JaitehOffice of the Chief JusticeOusman B. JallowGambia PublicProcurement AuthorityAlhaji JallowNational Water &Electricity Company Ltd.Abdoulie JammelDepartment of Statefor Trade Industry andEmploymentAmadou JannehNational Water &Electricity Company Ltd.Lamin S. JattaDeloitteZainab Jawara-AlamiGambia Revenue AuthoritySulayman M. JoofS.M. Joof AgencyAmie Joof ContehKunni Boy ChambersNani JuwaraNational Water andElectricity Company Ltd.Ismaila KahDevelopment Control Unit- Department of PhysicalPlanning and HousingYusupha KahDepartment of Statefor Trade Industry andEmploymentAmadou KebbehGambia PublicProcurement AuthorityGeorge KwatiaPricewaterhouseCoopersThomas NielsenGambia Shipping AgenciesOmar NjieLaw Firm Omar NjiePa M. M. N’jieTrust Bank LtdMary Abdoulie Samba-ChristensenLegal PractitionerJainaba Bah SambouDepartment of State forJusticeEbrima SambouOffice of the Chief Justice,Judiciary of The GambiaJoseph E. SarreGambia Architectural andPlanning ConsultantsMama Fatima SinghatehGT BankHawa Sisay-SaballyHawa Sisay-SaballyRaymond SockLamin TrawallyMaersk LineDarcy WhitePricewaterhouseCoopersGeorgiaDavid AbuladzePresident of the Union ofArchitects of GeorgiaIrakli AdeishviliTbilisi City Court, Chamberof Civil CasesNatalia BabakishviliMgaloblishvili, Kipiani,Dzidziguri (MKD) Law FirmNiko BakashvilliAuditorial Firm Bakashvili& Co.Giorgi BegiashviliBegiashvili & Co. LimitedLaw OfficesRevaz BeridzeUSAID Business ClimateReformSandro BibilashviliBGI LegalBondo BolkvadzeChemonics USAIDcontractorTemur BolotashviliUSAID Business ClimateReform ProjectSuliko ChachavaCargo Logistics GroupVazha ChopikashviliAssociation for Protectionof Landowners Rights(APLR)Katie DolidzeAlliance Group HoldingTsotne EbralidzeARCI Architecture &DevelopmentCourtney FowlerPricewaterhouseCoopersMariam GabuniaMinistry of EconomicDevelopmentDavid GiorgadzeAssociation for Protectionof Landowners Rights(APLR)Lasha GogiberidzeBGI LegalAlexander GomiashviliJSC Credit Info GeorgiaMamuka GordezianiGTS Trans LogisticsTamuna GvaramiaBGI LegalIrakli GviliaCredit Info GeorgiaGia JandieriNew Economic School -GeorgiaDavid KakabadzeGeorgian LegalPartnershipGrigol KakauridzeMinistry of EconomicDevelopmentLuisa KhitarishviliBooz Allen HamiltonTamaz KhizanishviliTbilisi Stock ExchangeIvan KhokhlovDLA Piper Gvinadze &Partners LPMaka KhutsishviliCaucastransExpressVictor KipianiMgaloblishvili, Kipiani,Dzidziguri (MKD) Law FirmAnastasia KipianiPricewaterhouseCoopersSergi KobakhidzePricewaterhouseCoopersAieti KukavaAlliance Group HoldingVakhtang LejhavaDavid LelashviliChemonics, USAIDcontractorGiorgi LiluashviliBGI LegalJaba MamulashviliBegiashvili & Co.Ekaterine MeskhidzeNational Agency of PublicRegistryRoin MigriauliLaw Office "Migriauli &Partners"Maia OkruashviliGeorgian LegalPartnershipMamuka PapuashviliENERGO PRO GeorgiaGivi PetriashviliIFCJoseph SalukvadzeTbilisi State UniversityManzoor ShahGlobalink Logistics GroupVakhtang ShevardnadzeMgaloblishvili, Kipiani,Dzidziguri (MKD) Law FirmIrakli SonguliaAssociation for Protectionof Landowners Rights(APLR)Rusa SreseliPricewaterhouseCoopersAnna TabidzeMgaloblishvili, Kipiani,Dzidziguri (MKD) Law FirmMatthew TallarovicPricewaterhouseCoopersGiorgi TatilashviliENERGO PROGiorgi TavartkiladzeDeloitteTamara TevdoradzeBGI LegalMaia TevzadzeUSAID Business ClimateReform ProjectVladimer TsophurashviliCaucasbusinessaudit LtdAleksandre TvildianiAlliance Group CapitalTato UrjumelashviliUSAID Business ClimateReform ProjectGermanyAllen & Overy LLPFlorian AmerellerAmereller RechtsanwälteGabriele ApfelbacherCleary Gottlieb Steen &Hamilton LLPKai BandillaPricewaterhouseCoopersLegalSven BäumlerVattenfall EuropeDistribution HamburgGmbHHenning BergerWhite & CaseAstrid BerleSCHUFA Holding AGJennifer Bierlyavocado rechtsanwälteThomas BuhlCleary Gottlieb Steen &Hamilton LLPThomas BüssowPricewaterhouseCoopersPia DorfmuellerPricewaterhouseCoopersAndreas EckhardtPricewaterhouseCoopersLegalDieter EndresPricewaterhouseCoopersHorst EngelhardtDr. EngelhardtTreuhand GmbHWirtschaftsprüfungsgesellschaftSigrun Erber-FallerNotare Erber-Faller undVoranHanno FierdagRechtsanwalt Dr. FierdagMarkus J. GoetzmannC·B·H RechtsanwälteAndrea GrussAshurstRobert GutteCleary Gottlieb Steen &Hamilton LLPRüdiger HarmsCleary Gottlieb Steen &Hamilton LLPManfred HeinrichDeutsche BundesbankGötz-Sebastian HökDr. Hök Stieglmeier &PartnerAndrea HosenfeldAshurstKai Christian JaeneckePricewaterhouseCoopersLegal ServicesAndre JahnDr. Hök Stieglmeier &Partner(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 167Jörg KraffelWhite & CasePeter LimmerNotare Dr. Limmer & Dr.FriederichFrank LohrmannCleary Gottlieb Steen &Hamilton LLPMax LuratiPricewaterhouseCoopersLegalCornelia MarquardtNorton RoseSusanne MatternPricewaterhouseCoopersWerner MeierCleary Gottlieb Steen &Hamilton LLPDirk Meyer-ClaassenSenatsverwaltung fürStadtentwicklung BerlinWerner M. MuesC·B·H RechtsanwälteEike NajorkC·B·H RechtsanwälteBernd OberbosselDirk OttoNorton RoseDaniel PanajotowCleary Gottlieb Steen &Hamilton LLPPeter PolkeCleary Gottlieb Steen &Hamilton LLPSebastian PrügelWhite & CaseChristopher SchauenburgCleary Gottlieb Steen &Hamilton LLPFriedrich Tobias SchoeneHogan & Hartson LLPThomas SchulzNörr Stiefenhofer Lutz,member of Lex MundiHanno SperlichCleary Gottlieb Steen &Hamilton LLPDirk StillerPricewaterhouseCoopersLegal ServicesDieter StraubCMS Hasche SigleTobias TaetznerPricewaterhouseCoopersHolger ThomasSJ Berwin LLPValentin TodorowHogan & Hartson LLPChristoph TorweggePricewaterhouseCoopersLegalHeiko VogtPanalpina WelttransportGmbHAnnekatrens Werthmann-FeldhuesPricewaterhouseCoopersLegalKarl-Heinz WewetzerSenatsverwaltung fürStadtentwicklung BerlinWilhelm ZeddiesSurveying Authorities -AdV c/o LGNGhanaKelvin AbdallahPricewaterhouseCoopersSeth Adom-AsomaningPeasah-Boadu & Co.Seth Agyapong-MensahFugar & Co.Nene AmegatcherSam Okudzeto & AssociatesWilfred Kwabena Anim-OdameLand Valuation BoardAdwoa S. Asamoah AddoFugar & Co.Gideon Ayi-OwooPricewaterhouseCoopersElsie A. AwadziLawfields ConsultingEmefa BaetaLaryea, Laryea & Co. P.C.Ellen BannermanBruce-Lyle Bannerman &ThompsonReginald BannermanBruce-Lyle Bannerman &ThompsonGwendy BannermanFugar & Co.Juliet BoabangBentsi-Enchill & Letsa,member of Lex MundiAbed BuaburAndah and AndahDzidzedze FiadjoePricewaterhouseCoopersWilliam Edem FugarFugar & Co.John Robert JenkinsGolden Jubilee TerminalRosa KudoadziBentsi-Enchill & Letsa,member of Lex MundiGeorge KwatiaPricewaterhouseCoopersKenneth D. LaryeaLaryea, Laryea & Co. P.C.Woodsworth Odame LarbiMinistry of Lands,Forestry & MinesSam OkudzetoSam Okudzeto & AssociatesJacob SaahSaah & Co.Benjamin SackarBruce-Lyle Bannerman &ThompsonDarcy WhitePricewaterhouseCoopersGreeceGeorge ApostolakosApostolakos ArchitectsIoanna ArgyrakiKyriakides Georgopoulos& Daniolos Issaias, memberof SEE LegalAndreas BagiasKelemenis & Co.Panayotis BernitsasM & P Bernitsas LawOfficesAlkistis ChristofilouIKRP Rokas & PartnersSotiris ConstantinouGrant ThorntonTheodora D. KaragiorgouLaw Office T.J. KoutalidisEleni DikonimakiTeiresias S.A. InterbankingInformation SystemsAnastasia DritsaKyriakides Georgopoulos& Daniolos Issaias, memberof SEE LegalMargarita FlerianouEconomou InternationalShipping AgenciesMaira GalaniIKRP Rokas & PartnersAntigoni GkarlaPricewaterhouseCoopersYannis KelemenisKelemenis & Co.Nicholas KontizasZepos & Yannopoulos,member of Lex MundiRoula KoumparouliKremalis Law Firm, memberof Ius LaborisYannis KourniotisM & P Bernitsas LawOfficesDimitrios KremalisKremalis Law Firm, memberof Ius LaborisTom KyriakopoulosKelemenis & Co.Olga Maria KyritsiKremalis Law Firm, memberof Ius LaborisVassiliki G. LazarakouZepos & Yannopoulos,member of Lex MundiIoanna Lazaridou -ElmaloglouKelemenis & Co.Evangelia MartinovitsIKRP Rokas & PartnersJohn MazarakosElias Paraskevas Attorneys1933Yiannis MazarakosElias Paraskevas Attorneys1933Effie G. MitsopoulouKyriakides Georgopoulos& Daniolos Issaias, memberof SEE LegalAthanassios PantazopoulosIKRP Rokas & Partners andDr. A. PantazopoulosAntonios PapadimitropoulosRoussos & PartnersAthanassia PapantoniouKelemenis & Co.Dimitris E. ParaskevasElias Paraskevas Attorneys1933Konstantinos PistiolisElias Paraskevas Attorneys1933Katerina PolitiKyriakides Georgopoulos& Daniolos Issaias, memberof SEE LegalMary PsyllaPricewaterhouseCoopersKleanthis RoussosRoussos & PartnersAlexandros SakipisPricewaterhouseCoopersIoannis SamiosKyriakides Georgopoulos& Daniolos Issaias, memberof SEE LegalHarris SkordakisPricewaterhouseCoopersBusiness Solutions S.A.Alexia StratouKremalis Law Firm, memberof Ius LaborisSpyridon TsallasIKRP Rokas & PartnersAntonios TsavdaridisIKRP Rokas & PartnersChristina VlachtsisMariantzela VlagopoulouKremalis Law Firm, memberof Ius LaborisVicky XourafaKyriakides Georgopoulos &Daniolos Issaias Law FirmFreddy YatracouPricewaterhouseCoopersAnna ZaravinouGrenadaRobert BranchSupreme CourtJames BristolHenry, Henry & BristolEvelyn CenacCustomsZarah ChaseGrenada ElectricityServices Ltd.Anslem DeBourgLabour DepartmentRuggles FergusonCiboney ChambersLeroy FlavignyCustomsCosmus GeorgeReasonable Services LtdHenry JosephAccountants & BusinessServicesKurt LaBarrieCreative DesignDickon MitchellGrant Joseph & Co.,member of Lex MundiNiel NoelHenry Hudson - Phillips& Co.David SinclairSinclair EnterprisesLimitedCasandra SlocombeGrenada ElectricityServices Ltd.Trevor St. BernardLewis & RenwickPhinsley St. LouisSt. Louis ServiceSupreme Court RegistryRoselyn WilkinsonWilkinson, Wilkinson &WilkinsonDaniella WilliamsDanny Williams & Co.GuatemalaRodolfo Alegria TorunoBeltranena, de la Cerda yChavezMaria Andrea Rimola MonroyCámara Guatemalteca dela ConstrucciónPedro AragónAragón & AragónNorka AragónMayora & Mayora, S.C.Ruby María Asturias CastilloACZALAWAlexander AzienstadtBeltranena, de la Cerda yChavezMaría de los Angeles BarillasBuchhalterSaravia & MuñozAmaury BarreraDHV ConsultantsRoberto BatresCarrillo & AsociadosGuillermo BonilloBonilla, Montano,Toriello & BarriosMaria del Pilar BonilloBonilla, Montano,Toriello & BarriosCaroline BonoPricewaterhouseCoopersMario Adolfo Búcaro FloresDíaz-Durán & AsociadosCentral LawAgustín BuezoArrow CargoEva Cacacho GonzálezQuiñones, Ibargüen & LujánRodrigo Callejas AquinoCarrillo & AsociadosJuan Pablo Carrasco deGrooteDíaz-Durán & Asociados -Central LawAlfonso CarrilloCarrillo & AsociadosFrancisco José CastilloChacónAguilar Castillo LoveJuan Carlos Castillo ChacónAguilar Castillo LoveVanessa Castro MirónMayora & Mayora, S.C.José CerezoPricewaterhouseCoopersLegal ServicesPaola van der Beek deAndrinoCámara Guatemalteca dela ConstrucciónKarla de MataCPS LogisticsRolando De Paz BarrientosTransUnion(c) The International Bank for Reconstruction and Development / The World Bank

168 Doing Business 2009Estuardo Enrique EcheverriaNovaSuperintendencia deBancosFedExAlejandro Fernández deCastroPricewaterhouseCoopersWalter FigueroaCámara Guatemalteca dela ConstrucciónRodolfo FuentesProtectora de CrèditoComercialVeronika Sofia Gonzalez BranDíaz-Durán & Asociados -Central LawMiguel Angel GualimDHV ConsultantsBethsy HernandezDHV ConsultantsJuan JegerlehnerSaravia & MuñozChristian LanuzaDíaz-Durán & AsociadosCentral LawGuillermo Lopez-DavisBufete Lopez CorderoAndrés LowenthalMayora & Mayora, S.C.María Isabel LujánZilbermannQuiñones, Ibargüen & LujánSasha MaldonadoAguilar Castillo LoveEnrique MaldonadoMinistry of EconomyMarco Antonio MartinezCPS LogisticsEstuardo Mata PalmieriQuiñones, Ibargüen & LujánEdgar MendozaPricewaterhouseCoopersHugo MenesAyora & Mayora, S.C.Guillermo MontanoTransactel Inc.Ramón OrtegaPricewaterhouseCoopersMarco Antonio PalaciosPalacios & AsociadosAndrea PaniaguaPricewaterhouseCoopersLuis PellecerCarrillo & AsociadosLuis Rene Pellecer LopezCarrillo & AsociadosJose Enrique PensabenePalacios y AsociadosRita PérezAragón & AragónManuel PérezCarrillo & AsociadosFrancisco PilonaDHV ConsultantsJulio PinedoPricewaterhouseCoopersGloria. E. PolancoFrutas Tropicales deGuatemala, S.A. (FRUTESA)Andres Porras CastilloTransUnionFernando Quezado ToruñoQuezadaBufete Quezada Toruño,S.A.Marco Tulio ReynaCámara Guatemalteca dela ConstrucciónAlfredo Rodríguez MahuadRodriguez, Castellanos,Solares & Aguilar, S.C.-Consortium legalJorge Rolando BarriosSalvador A. Saravia CastilloSaravia & MuñozKlamcy SolorzanoDHV ConsultantsJuan TejadaPricewaterhouseCoopersJosé Augusto Toledo CruzArias & MuñozArelis Torres de AlfaroSuperintendencia deBancosElmer VargasACZALAWRaquel VilledaMayora & Mayora, S.C.Julio YonDISAGRO, SolucionesLogisticasGuineaThierno A T BahCabinet IRDEDAminata Bah TallNimba ConseilAlpha Bakar BarryCabinet Karamoko AlphaBarryThérèse BetickaNimba ConseilSékou CamaraDirection Nationale desImpôtsElhadj Ibrahima Sory CisséTribunal du Travail deConakryAïssata DiakiteNimba ConseilMamadou Aliou Chérif DialloKoutouSafiatou KalissaFIDAFRICA /PricewaterhouseCoopersMohamed LahlouFIDAFRICA /PricewaterhouseCoopersSoumah Mama AïssataMinistère du CommerceRaoul MoutheNimba ConseilGuy PiamNimba ConseilRaffi RajaCabinet KoûmyNanamoudou SangareAEAEAndré SangareCabinet UIBGSOCOPAO - SDVYansane SoumahManquepasFacinet SoumahTribunal Première Instancede KaluomIbrahima Sory SowBanque CentraleMomoya SyllaNimba ConseilDominique TatyFIDAFRICA /PricewaterhouseCoopersAlphonse TemedieuNimba ConseilGuinea-BissauDuarte AdolfoBanco da ÁfricaOcidental, S. A.Adelaida Mesa D’AlmeidaSole practicionerJonathan DarbouxBCEAOFatimatou Zahra DiopBCEAOOctávio LopesOctávio Lopes Advogados -Miranda AllianceMiguel MangoAudi - Conta LdaArmando MangoOrdem dos Advogados daGuiné-BissauJaló PiresMinisterio da JusticaAugusto RegalaRibeiroRegalaJoão Daniel Vaz Jr.TransVaz, LdaGuyanaAshton ChaseLaw Office of AshtonChase AssociatesDeeds RegistryLucia Loretta DesirD & J Shipping ServicesGuyana Office forInvestmentHigh CourtRexford JacksonSingh, Doodnauth LawFirmLand RegistryRakesh LatchanaRam & McRaeColin MurrayCoastal ConstructionServicesChristopher RamRam & McRaeJosephine WhiteheadCameron & ShepherdHaitiLionel AllenArchitectGemma AngladeBrown Legal GroupJoel BaussanCARIMPEXSamuel Bien AimeMinistere du Commerce etde l’IndustrieBrierre PierreCabinet de LespinasseJean Baptiste BrownBrown Legal GroupSteve Christian BrownBrown Legal GroupMartin Camille CangéElectricité d’HaïtiRaoul CelestinLes EntreprisesCommerciales JosephNadal S.A.Djacaman CharlesCabinet GassantPhilippe-Victor ChatelainChatelain Cargo ServicesDiggan d’AdeskyD’Adesky Import ExportS.A.Christian De LespinasseCabinet de LespinasseBerto DorcéJuris ExcelRigaud DuplanJean Gerard EveillardCabinet EveillardCamille FievreJuris ExcelIrma FredericAvocatEnerlio GassantCabinet GassantSaurel GiletMinistere du Commerce etde l’IndustrieEmile GiordaniGilbert GiordaniEtude Brisson CassagnolArchimelec GuerrierCabinet GassantSylvie HandalHudicourt-WoolleyChantal Hudicourt-EwaldCabinet Hudicourt-WoolleyMarc Hebert IgnaceBanque de la Républiqued’HaitiLuciner JosephMairie de PetionvilleKareen T. LaplancheUN HabitatWilhelm E. Lemke, JrENMARCOLDA (D’adesky)Louis Gary LissadeCabinet LissadeRoberson LouisCabinet GassantFreshnel LucienCabinet GassantKathia MagloireCabinet GassantAlexandrine NelsonChatelain Cargo ServicesJoseph PaillantOrdre des ComptablesProfessionels Agreesd’HaitiJean Frederic SalesCabinet SalesMargarette SanonBanque de la Republiqued’HaitiPaul Emile SimonArchitectSalim SuccarCabinet LissadeJean VandalVandal & VandalHondurasFernando AguileraFIDEJuan José Alcerro MillaAguilar Castillo LoveLidabel Almendárez de VijilCOHEP (ConsejoHondureño de la EmpresaPrivada)Caroline BonoPricewaterhouseCoopersClaudia Patricia CartagenaOficina de Transparenciadel Congreso Nacional deHondurasHéctor Danilo CartagenaGameroPricewaterhouseCoopersJaneth Castañeda de AquinoGrupo Cropa PanalpinaJoel CastilloAgencia Aduanera yMarítima CARECarmen ChevezComision Nacional deBancos y SegurosRamón DiscuaBatres, Discus, MartinezAbogadosFrancisco Guillermo DurónLopezBufete DurónFernando FernándezPricewaterhouseCoopersLegal ServicesAlejandro Fernández deCastroPricewaterhouseCoopersLillizeth GarayCNBSDania Waldina GomezDeloitte S.A. de C.V.Santiago HerreraFIDEMarcela López CarrilloPricewaterhouseCoopersHeidi LunaGarcía & BodánDennis Matamoros BatsonArias & MuñozRafael Enrique Medina ElvirInstituto de la PropiedadJuan Carlos Mejía CottoInstituto de la PropiedadRamón E. MoralesPricewaterhouseCoopers(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 169Orestila MuñozEmpresa Nacional deEnergía EléctricaJazna Vanessa OquelíGarcía & BodánRamón OrtegaPricewaterhouseCoopersAndrea PaniaguaPricewaterhouseCoopersJose Ramon PazJ.R. Paz & AsociadosJulio PinedoPricewaterhouseCoopersMauricio QuiñónezPricewaterhouseCoopersDino RiettiArquitecnicMilton RiveraPricewaterhouseCoopersLegal ServicesJosé Rafael Rivera FerrariJ.R. Paz & AsociadosEnrique Rodriguez BurchardAguilar Castillo LoveFanny Rodríguez del CidArias & MuñozMartha R SaenzZacarías & AsociadosGodofredo SierckeGarcía & BodánEdgardo H. SosaEmpresa Nacional deEnergía EléctricaCristian Stefan HandalZacarías & AsociadosJuan TejadaPricewaterhouseCoopersJorge TorresCOHEP (ConsejoHondureño de la EmpresaPrivada)Armando Urtecho LópezCOHEP (ConsejoHondureño de la EmpresaPrivada)Roberto Manuel ZacaríasUrrutiaZacarías & AsociadosHong Kong,ChinaBrian BarronBaker & McKenzieNicholas ChanSquire, Sanders & DempseyLLPAlbert P.C. ChanThe Hong KongPolytechnic UniversityAlex ChanThe Land RegistryVashi ChandiExcellence InternationalDeborah ChengSquire, Sanders & DempseyL.L.P.Winnie CheungThe Land RegistryPatrick FontaineLinklatersAlexander GongBaker & McKenzieAndrew HalkyardKeith Man Kei HoWilkinson & GristRod Houng-LeePricewaterhouseCoopersKwok Ho LamCLP Power LimitedCindy LamThe Land RegistryDavid LawrenceDeaconsDamasus MakInterlite Company LimitedAndrea PellicaniOverseas AsiaRandolph PerryOrrick, Herrington &Sutcliffe LLPMartinal QuanMetopro Associates Ltd.Sara TongTemple ChambersAnita TsangPricewaterhouseCoopersLawrence Tsong TsongTransUnionTak Kei WanCLP Power LimitedSusanne WongHong Kong Economic &Trade OfficeRaymond WongPricewaterhouseCoopersAlexander YuenTransUnionHungaryMorley Allen & OveryIrodaPethő ÁdámBISZ Central CreditInformation LtdMark BalastyaiFutureal Holding Co.Péter BárdosSándor BékésiPartos & Noblet LovellsJudit BókaiDr Bókai Notary OfficeHedi BozsonyikSzecskay Attorneys-at-LawZsuzsanna CseriBárd, Cseri & PartnersLaw FirmIstván SándorKelemen, Meszaros, Sandor& PartnersDalma DudásRéti, Antall & MadlLandwellGabriella ErdosPricewaterhouseCoopersGyörgy FehérBellák & Partners LawOffice, member of IusLaborisAnna GáspárBuild-Econ Ltd.Karolina GombosIB Grant ThorntonConsulting Kft.IFS Ltd.Norbert IzerPricewaterhouseCoopersZsuzsa KardosBellák & Partners LawOffice, member of IusLaborisZsuzsanna KárolyiBellák & Partners LawOffice, member of IusLaborisAdrienn KellerBellák & Partners LawOffice, member of IusLaborisAndrea KoczihaPricewaterhouseCoopersRussell LambertPricewaterhouseCoopersPetra LencsBárd, Cseri & PartnersLaw FirmDóra MáthéPricewaterhouseCoopersRichárd MedveRéti, Antall & MadlLandwell Law FirmLívia MihovicsRéti, Antall & MadlLandwell Law FirmLászló MohaiJudit NagyBellák & Partners LawOffice, member of IusLaborisSándor NémethSzecskay Attorneys-at-LawTamás PásztorNagy és Trócsányi LawOffice, member of LexMundiTibor SzabóRéti, Antall & MadlLandwell Law FirmAndrás SzecskaySzecskay Attorneys-at-LawIlona SzarkaIB Grant ThorntonConsulting Kft.Ágnes Szent-IványSándor Szegedi Szent-IványKomáromi EvershedsViktória SzilágyiNagy és Trócsányi LawOffice, member of LexMundiLászló SzűcsRéti, Antall & MadlLandwell Law FirmTibor TorokPricewaterhouseCoopersÁdám TóthDr. Tóth & Dr. GáspárKözjegyzői IrodaGábor VargaBISZ Central CreditInformation LtdAgnes WolfordBudapest Viii. districtMunicipalityBlanka ZomboriPricewaterhouseCoopersIcelandElin ArnadottirPricewaterhouseCoopers.Kristján ÁsgeirssonArkitektastofan OGGuðrún BergsteinsdóttirBBA LegalÞórður BúasonReykjavik ConstructionAgencyÓlafur EyjólfssonPricewaterhouseCoopersSkuli Th. FjeldstedFjeldsted, Blöndal &FjeldstedErlendur GíslasonLOGOS, member of LexMundiIngibjörg GuðbjartsdóttirBBA LegalElísabet GuðbjörnsdóttirPricewaterhouseCoopersLegal ServicesReynir HaraldssonJónar TransportMargrét HauksdóttirThe Land RegistryKristín HelgaPricewaterhouseCoopersLegal ServicesJón Ingi IngibergssonPricewaterhouseCoopers.Erlingur E. JónassonISTAKHróbjartur JónatanssonAM Praxis Law OfficesÁsta KristjánsdóttirPricewaterhouseCoopersLegal ServicesRagna MatthíasdóttirISTAKDaði ÓlafssonBBA LegalKristján PálssonJónar TransportEyvindur SólnesLVAHeiðar StefánssonLOGOS, member of LexMundiGunnar SturlusonLOGOS, member of LexMundiRúnar Svavar SvavarssonOrkuveita Reykjavíkur,Distribution-ElectricalSystemBergþór ÞormóðssonISTAKIndiaNagarajan A.Karthik Diesel Sales &ServiceRajan A.Sweka InternationalDulal AcharyyaParasnath Tech GarmentsPvt., Ltd.Amit AgarwalPricewaterhouseCoopersRohini AggarawalPricewaterhouseCoopersJameel AhmedAlifBizAjit Bhuta and AssociatesRajiv AnandPricewaterhouseCoopersPalanikumar ArumugamVariety FashionsAum AruchitectsPavithra B.Maharani Laxmi AmmanniCentre for Social ScienceResearchRohit BajajChawla & Co.Vikas BansalPricewaterhouseCoopersDaksha BaraMaharani Laxmi AmmanniCentre for Social ScienceResearchAditya BhardwajSinghania & Partners,Solicitors & AdvocatesPrachi BhardwajTrilegalNitesh BhasinTrilegalBhasin InternationalLeena ChackoAmarchand & Mangaldas& Suresh A. Shroff & Co.Aman ChandaPricewaterhouseCoopersHarshala ChandorkarCredit Information BureauLtd.Vipul ChaturvediInnovative Eco-Care Pvt.Ltd.Jyoti ChaudhariLegasis Services Pvt. Ltd.Anamika ChaudharyInfini JuridiqueHarminder ChawlaChawla & Co.Manjula ChawlaMCA LegalNimish ChoudharyPricewaterhouseCoopersSachin ChughSinghi Chugh & Kumar,Chartered AccountantsKamlesh DesaiMangal ExportsPrashant DhariaAnant IndustriesRahul DhawanFox MandalThambi DuraiT. Durai & Co.Koshy G. GeorgeKarthik Diesel Sales &ServiceC.V. GaneshKarthik Diesel Sales &ServiceRahul GargPricewaterhouseCoopersG.D. Smabhare and Co.(c) The International Bank for Reconstruction and Development / The World Bank

170 Doing Business 2009Mayur GhadiaBhavna ElectricalIndustriesRajesh GopinathRegent TelecomDinesh GuptaHari Om InternationalAnil GuptaHitech GroupChander GuptaMR Tobacco Pvt., Ltd.Vinay GuptaVinay K Gupta & Co.Mano HaranACE OverseasAkil HiraniMajmudar & Co.India Business Database.comVipin JainShree Bhikshu Marble andGranitesAshok JainSuraj OverseasAtul JaniGayatri Polymers &Geosynthetics.Malini JayakumarSribalaji CosmeticsDharmendra JohariStonex Inc.G. D. JosephJoseph & Co.Swaminathan KalyanaramanDakshin Kreations PrivateLimitedDinesh KanabarPricewaterhouseCoopersA.V. KaneThe Brihan MumbaiElectric Supply &Transport UndertakingVaishal KapadiaShidimo Interaux Pvt. Ltd.Deepti KapoorFox MandalSushmita KapurFox MandalRajas KasbekarLittle & Co.Arun KediaVAV Life Sciences P. Ltd.Rajesh KhandelwalSuman EnterprisesAvinash KumarChawla & Co.Suraj KumarChawla & Co.Sailesh KumarDragon Express FreightPvt Ltd.Debashis KumarGanapati UdyogAbhishek KumarSinghania & Partners,Solicitors & AdvocatesKarsh KumarSinghi Chugh & Kumar,Chartered AccountantsVinu KurianBeta Healthcare ProductsPrivate Ltd.Poonam LilaLeo Circuit Boards Pvt.Ltd.Manjunath MadhavRiecoManish MadhukarInfini JuridiqueMaharani Laxmi AmmanniCentre for Social ScienceResearchSom MandalFox MandalVipender MannKNM & Partners, LawOfficesKapish MehtaDara MehtaLittle & Co.Gajendra MehtaNimbus CorporationJitesh MehtaSource IndiaR.K. MishraMetro AssociatesSharad MishraNeo MultimedianSaurabh MisraParas Kuhad & Associates,Advocates ("PKA")Deepti MittalVinay K Gupta & Co.Ravi ModiDev Roadlines Pvt. Ltd.Vikash MohtaP.A. InternationalR. MuralidharanPricewaterhouseCoopersSatish MurtiMurti & MurtiInternational LawPracticeAnshoo NayarFox MandalNine InternationalAnand NivasDragon Express FreightPvt. Ltd.Rajesh PalavankarIndoGlobal HealthSciences Private LimitedJanak PandyaNishith Desai AssociatesSujit ParakhPricewaterhouseCoopersN. B. PatelR.K. Plast & EngineersSanjay PatilAshish PatoleAccent TrendzNiti PaulChawla & Co.Francisca PhilipSinghania & Partners,Solicitors & AdvocatesNitin PotdarJ. Sagar Associates,Advocates & SolicitorsM. PrabhakaranConsulta JurisAnand PrasadTrilegalAhuja PunitaSinghi Chugh & Kumar,Chartered AccountantsAtramuddin QureshiHandmade CreationsRahul ExportsCapt RajBrahma Shipping &LogisticsKarthik RajaKnitted GarmentsExporterSundar RajanCassanova TextilesMohan RajasekharanMCA LegalKrishnamurthyRamachandranLegasis Services Pvt. Ltd.Mohan RamakrishnanSathya Auto PrivateLimitedRangaswamy RamakrishnanTop Metrology Pvt. Ltd.Ashok RamgirHarsh ImpexDipak RaoSinghania & Partners,Solicitors & AdvocatesJessica Maria RodriguesKavjess Export ImportTrading CompanyMartin Clifford RodriguesMax ExportsRoopa Textiles andTrimmingsSameer SahMajmudar & Co.Abhishek SaketInfini JuridiqueDushir SaksenaICFAI School of FinancialStudiesSudhir SaksenaICFAI School of FinancialStudiesRichie SanchetiNishith Desai AssociatesDeepak SanghaviARL GlobalRadhika SankaranFox MandalV. Siva SankaranT.S. ClassiqueMohit SarafLuthra & LuthraNeha SatavLegasis Services Pvt. Ltd.Srinivasan SeenuAir TravelsRatnika SehgalChawla & Co.Ramani SeshadriDilip ShahParag ShahFox MandalPrakash ShahParijat Marketing ServicesRamasamy ShankarPurushotam SharmaGajraj Mehandi UydogRanjan SharmaNet Link ComputerAnand SharmaR.K. IndustriesShivanand ShenoyTushar ShindePrecise Biopharma Pvt.Ltd.Vikram ShroffNishith Desai AssociatesRajnish ShuklaSinghi Chugh & Kumar,Chartered AccountantsSukhpreet SinghChawla & Co.Ravinder SinghInternational Tools Co.Amaresh Kumar SinghLuthra & LuthraKaviraj SinghTrustman & CoRavinder SinghaniaSinghania & Partners,Solicitors & AdvocatesArvind SinhaBusiness Advisors GroupUppu SivaiahEsprit de Corps IndiaRamamurthy SrinivasanTransdeals Inc.Rudra SrivastavaChawla & Co.Joseph StarrStarline ShippingStretch FashionsMadhu SwetaSinghania & Partners,Solicitors & AdvocatesNiranjan TalatiShreeji MarketingMahesh ThakerM J & CompanyKrupa ThakkarRushil Decor Ltd.Hira TikooUnited InternationalAparna TripathyInfini JuridiqueSuhas TuljapurkarLegasis Services Pvt. Ltd.Sunil UpadhyayaNational FoodsRatandeep UppalB M Metal CraftsKannan VenkatasamyPeripheralconnexionsSaji VijayadasDragon Express FreightPvt. Ltd.Jude XavierReppin InternationalZedd TradeIndonesiaYose M. AdamsBank IndonesiaNafis AdwaniAli Budiardjo, Nugroho,Reksodiputro, member ofLex MundiAlmer AponPT Buana Mas CitraLestariHamud M. BalfasAli Budiardjo, Nugroho,Reksodiputro, member ofLex MundiRick BeckmannBrigitta I. Rahayoe &SyamsuddinFabian Buddy PascoalHanafiah Ponggawa &PartnersIra A. EddymurthySoewito SuhardimanEddymurthy KardonoSani Eka DutaBank IndonesiaGreg ElmsIFCBambang EryudhawanIndonesian Institute ofArchitectsAhmad FadliBrigitta I. Rahayoe &SyamsuddinIqbal HadromiHadromi & PartnersDjoko HastowoPLN Kantor PusatRay HeadifenPT Prima Wahana Caraka /PricewaterhouseCoopersReno HirdarisvitaHadromi & PartnersRahayu N. HoedMakarim & Taira S.Brigitta Imam RahayoeBrigitta I. Rahayoe &SyamsuddinDarrell R. JohnsonIndonesian LegalConsultantsMohammad KamalFurniture FikamarMirza KarimKarimSyah Law FirmKetua KehormatanIkatan Arksitek IndonesiaJakartaDavid KnightAgri-DevelopmentsInternational SA (Pty)LimitedHerry N. KurniawanAli Budiardjo, Nugroho,Reksodiputro, member ofLex MundiRudy KusmantoMakarim & Taira S.Winita E. KusnandarKusnandar & Co.Erma KusumawatiBank IndonesiaJulien LallemandPT SDV LogisticsFerry P. MadianAli Budiardjo, Nugroho,Reksodiputro, member ofLex MundiAhmad MalkanPT Triharpindo MandiriEric ManciniPT SDV Logistics(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 171Gopinath MenonPTPricewaterhouseCoopersFASKaren MillsKarimSyah Law FirmNorma MutalibMakarim & Taira S.Feria NingsihMakarim & Taira S.Hartono ParbudiAttorney-at-LawGita PetrimaliaHadromi & PartnersSandra PranotoIFCArno F. RizaldiKusnandar & CoL. Peter RosnerBank Dunia I the WorldBankAdam SackIFCIsyana W. SadjarwoNotaris & Pejabot PembuotAkio TanohPieter Henrianto SaleanMakarim & Taira S.Henry SandeeBank Dunia I the WorldBankGatot SanyotoKusnandar & CoNur Asyura Anggini SariBank IndonesiaNasri SebayangPT PLN (Persero) IndonesiaState ElectricityCorporationIndra SetiawanAli Budiardjo, Nugroho,Reksodiputro, member ofLex MundiHans C. ShraderIFCKevin Omar SidhartaAli Budiardjo, Nugroho,Reksodiputro, member ofLex MundiRicardo SimanjuntakRicardo Simanjuntak &PartnersA. Kemalsjah SiregarKemalsjah & AssociatesBambang SoelaksonoThe SMERU ResearchInstitutePak Subani, SHAmir Syamsuddin &PartnersBernadeta SulistyarimiIFCGalinar R. KartakusumaSummitmasMakarim & Taira S.Yukiko LU. TambunanBank IndonesiaErnst G. TehuteruAli Budiardjo, Nugroho,Reksodiputro, member ofLex MundiGatot TriprasetioWidyawan & PartnersFararatri WidyadariIFCRobertus WinartoPT Prima Wahana Caraka /PricewaterhouseCoopersFerry ZulkarnaenWidyawan & PartnersIranMohammad AdibAdib Law FirmBehrooz AkhlaghiInternational Law Officeof Dr. Behrooz Akhlaghi &AssociatesReza AskariForeign Legal AffairsGroupAkhlaghi BehroozInternational Law Officeof Dr Behrooz Akhlaghi &AssociatesGholamhossein DavaniDayarayan Auditing &Financial ServicesSaeed HashemianAdib Law FirmMehdi HeidarzadehAlvand SayanInternational TradingCo, Ltd.Javad JavaheriParisa MazaheriAtieh AssociatesMozaffar MohammadianTeema Bar InternationalTransportYahya RayeganiFarjam Law OfficeBehrooz RezazadehPSDC GroupJamal SeifiDr. Jamal Seifi &AssociatesMir Shahbiz ShafeDr. Jamal Seifi &AssociatesCyrus ShafizadehTavakoli & ShahabiMostafa ShahabiTavakoli & ShahabiIraqHadeel Salih AbboudAl-JanabiMena Associates,member of AmerellerRechtsanwälteHadeel Al JanabiMena Associates,member of AmerellerRechtsanwälteAhmad Al JannabiMena Associates,member of AmerellerRechtsanwälteFarquad Al-SalmanF.H. Al-Salman & Co.Florian AmerellerAmereller RechtsanwälteBlund Faridoon Arif NajebAttorney-at-LawHusam Addin HatimStephan JägerAmereller RechtsanwälteImad MakkiAl Qarya Group Co.IrelandArthur Cox, member of LexMundiMargaret AustinEugene F. CollinsSolicitorsAlan BrowningLK Shields Solicitors,member of Ius LaborisJonathan CullenLK Shields Solicitors,member of Ius LaborisRichard CurranLK Shields Solicitors,member of Ius LaborisGavin DohertyEugene F. CollinsSolicitorsCiara GarryESB NetworksPaul GlenfieldMatheson Ormsby PrenticeMicheál GraceMason Hayes & CurranColm KellyPricewaterhouseCoopersIan LavelleLK Shields Solicitors,member of Ius LaborisMargaret MastersonPricewaterhouseCoopersGavan NearyPricewaterhouseCoopersShane NevilleLK Shields Solicitors,member of Ius LaborisMalichi O’CallaghanDuncan & Grehan PartnersPanalpina WorldTransport Ltd.Judith RiordanMason Hayes & CurranBrendan SharkeyReddy Charlton McKnightGavin SimonsEugene F. CollinsSolicitorsMichael TreacyProperty RegistrationAuthorityColm WalshIrish InternationalFreight AssociationMaeve WalshReddy Charlton McKnightIsraelRonen Bar-EvenWeiss- Porat & Co.Paul BarisYigal Arnon & Co.Ofer Bar-OnShavit Bar-On Gal-On TzinNov Yagur, Law OfficesKoby CohenPricewaterhouseCoopersLior CrystalPricewaterhouseCoopersClifford DavisS. Horowitz & Co., memberof Lex MundiRoee HechtShavit Bar-On Gal-On TzinNov Yagur, Law OfficesAaron JaffeYigal Arnon & Co.Zeev KatzPricewaterhouseCoopersVered KirshnerPricewaterhouseCoopersGideon KorenBen Zvi Koren & Co. LawOfficesOrna Kornreich-CohenShavit Bar-On Gal-On TzinNov Yagur, Law OfficesMichael LagonThe Israel ElectricCorporation Ltd.- DandistrictMichelle LibermanS. Horowitz & Co., memberof Lex MundiDavid RosenIdility ConsultingGerry SeligmanPricewaterhouseCoopersYifat Shkedi-ShatzS. Horowitz & Co., memberof Lex MundiEdward ShtaifThe Israel ElectricCorporation Ltd.- DandistrictDaniel SingermanBusiness Data Israel +Personal CheckNir ZalmanovB.A.SItalyAllen & Overy LLPAPLMarianna AbbatticchioRistuccia & TufarelliFabrizio AcerbisPricewaterhouseCoopersPaola AlbanoCleary Gottlieb Steen &Hamilton LLPGaetano ArnòTLS /PricewaterhouseCoopersLegal ServicesMaria Pia AscenzoBank of ItalyRomina BallanaPricewaterhouseCoopersPaola BarazzettaTLS /PricewaterhouseCoopersLegal ServicesSusanna BeltramoStudio Legale BeltramoAntonino BoetiPenelope S.r.l.Roberto BonsignoreCleary Gottlieb Steen &Hamilton LLPLuigi BrunettiSDVCarlo BrunoAshurstManuela CaccialanzaJones DaySergio CalderaraNunziante MagroneStefano CancariniTLS /PricewaterhouseCoopersLegal ServicesAlessandro CaridiPricewaterhouseCoopersGennaro CassianiGC Architecture BuroGiorgio CherubiniPirola Pennuto ZeiAssociatiDomenico ColellaPortolano ColellaCavallo Studio LegaleFabrizio ColonnaCamozzi BonissoniVarrenti & AssociatiMattia Colonnelli de GasperisLombardi Molinari eAssociati Studio LegaleBarbara CorsettiPortolano ColellaCavallo Studio LegaleFilippo CorsiniChiomenti Studio LegaleCRIF S.p.A.Luis CristalliOpdel Snc Di Ilario DellAgnolo & Co.Salvatore CuzzocreaPricewaterhouseCoopersAntonio de MartinisSpasaro De Martinis LawFirmElena D’erricoAbbatescianni StudioLegale e TributarioClaudio Di FalcoCleary Gottlieb Steen &Hamilton LLPDomenico Di PietroChiomenti Studio LegaleMarco EttorreCamozzi BonissoniVarrenti & AssociatiCarlo FalcettoNunziante MagroneEmanuele FerrariStudio Notarile FerrariLinda FrigoStudio Legale Macchi diCellere e GangemiIvana GenestroneTLS AssociazioneProfessionale di Avvocatie CommercialistiFrancesca GesualdiCleary Gottlieb Steen &Hamilton LLPLucio GhiaGhia Law FirmVincenzo GiannantonioAshurstMaurizio GiuntoniEcoproget S.r.l.(c) The International Bank for Reconstruction and Development / The World Bank

172 Doing Business 2009Federico GuastiStudio Legale GuastiGiovanni IzzoAbbatescianni StudioLegale e TributarioArena LanfrancoProdital LeathersStefano Macchi di CellereJones DayBarbara MagnCamozzi BonissoniVarrenti & AssociatiFabrizio MariottiMario MiccoliNotaio MiccoliValeria MorossiniFrancesca NapoletanoChiomenti Studio LegaleGianmatteo NunzianteNunziante MagroneFrancesco NuzzoloPricewaterhouseCoopersLuciano PanzaniSupreme CourtPaolo PasqualisNotaryGiovanni PattiAbbatescianni StudioLegale e TributarioPaolo PedrazzoliStudio Notaio PedrazzoliAndrea PellicaniOverseas AsiaFederica PeresPortolano ColellaCavallo Studio LegaleLaura ProsperettiCleary Gottlieb Steen &Hamilton LLPGiuseppe RamondelliStudio Legale NotarileDi Fabio RamondelliCantamagliGiuseppe Antonio RecchiaDipartimento sui rapportidi lavoro e sulle relazioniindustriali - Universityof BariTommaso RomolottiCamozzi BonissoniVarrenti & AssociatiGiovanni B. SandicchiCleary Gottlieb Steen &Hamilton LLPLamberto SchionaStudio Legale SchionaMassimiliano SilvettiNunziante MagronePiervincenzo SpasaroSpasaro De Martinis LawFirmGiovanni StefaninTLS AssociazioneProfessionale di Avvocatie CommercialistiRobert SturgessSDVMaria Antonietta TanicoTanico law firmSilvio TersillaLovellsTommaso TomaiuoloTLS AssociazioneProfessionale di Avvocatie CommercialistiLuca TufarelliRistuccia & TufarelliBenedetta VanniniCleary Gottlieb Steen &Hamilton LLPEmanuela VitteloCleary Gottlieb Steen &Hamilton LLPAngelo ZambelliLabLaw Studio legale -Failla, Rotondi & ZambelliFilippo ZucchinelliTLS /PricewaterhouseCoopersLegal ServicesJamaicaTheresa BowenLEX CaribbeanArlene E. BurtonPricewaterhouseCoopersEric Alexander CrawfordPricewaterhouseCoopersEagle and Whale Ltd.Nicole FogaFoga Daley & Co.Stephanie GordonLEX CaribbeanHerbert Winston GrantGrant, Stewart, Phillips& Co.Michael HallPricewaterhouseCoopersCorrine N. HenryMyers, Fletcher & Gordon,member of Lex MundiAlicia P. HusseyMyers, Fletcher & Gordon,member of Lex MundiEmile G.R. LeibaMyers, Fletcher & Gordon,member of Lex MundiSandra Minott-PhillipsMyers, Fletcher & Gordon,member of Lex MundiViveen MorrisonPricewaterhouseCoopersHilary ReidMyers, Fletcher & Gordon,member of Lex MundiNatalie Farrell RossMyers, Fletcher & Gordon,member of Lex MundiLisa N. RussellMyers, Fletcher & Gordon,member of Lex MundiHumprey TaylorTaylor Construction Ltd.Lorraine ThomasLTN LogisticsInternational Co. LtdMaliaca WongMyers, Fletcher & Gordon,member of Lex MundiJapanAllen & OveryAPLMiho ArimuraHatasawa & Wakai LawFirmCredit Information CenterCorp.Mijo FujitaAdachi, Henderson,Miyatake & FujitaYoshimasa FurutaAnderson Mori &TomotsuneShigeru HasegawaZeirishi-HojinPricewaterhouseCoopersTamotsu HatasawaHatasawa & Wakai LawFirmTakashi HiroseOh-Ebashi LPC & PartnersYuko InuiOrrick, Herrington &Sutcliffe LLPMuriuki KaindioTokyo Trading Co. Ltd.Yosuke KanegaeOh-Ebashi LPC & PartnersHideki Thurgood KanoAnderson Mori &TomotsuneYutaro KawabataNishimura & AsahiSusumi KawaguchiObayashi CorporationKotaku KimuZeirishi-HojinPricewaterhouseCoopersKenichi KojimaUshijima & PartnersToshio MiyatakeAdachi, Henderson,Miyatake & FujitaMichihiro MoriNishimura & AsahiTohru MotobayashiMori Hamada &MatsumotoTakafumi NiheiNishimura & AsahiMiho NiunoyaAtsumi & PartnersNaoko SatoAnderson Mori &TomotsuneTetsuro SatoBaker & McKenzieEri SugiharaNishimura & AsahiHidetaka SumomogiNishimura & AsahiHiroyuki SuzukiZeirishi-HojinPricewaterhouseCoopersToshio TaikojiKajima CorporationJunichi TobimatsuMori Hamada &MatsumotoJun YamadaAnderson Mori &TomotsuneMichi YamagamiAnderson Mori &TomotsuneAkio YamamotoKajima CorporationKazuhiro YanagidaNishimura & AsahiSetsuko YufuAtsumi & PartnersJordanSaleh AbdelatiAli Sharif Zu’bi, Advocates& Legal Consultants,member of Lex MundiChaled Abu-GharbiehArch EPE, EnterpriseBusiness SolutionsAnas AbunamehLaw & Arbitration CentreIbrahim AbunamehLaw & Arbitration CentreBassam Abu-RummanAli Sharif Zu’bi, Advocates& Legal Consultants,member of Lex MundiSabri Al KhassibAmman Chamber ofCommerceTamara Al-BannaKhalifeh & PartnersEman M. Al-DabbasInternational BusinessLegal AssociatesArafat AlfayoumiCentral BankOmar AljazyAljazy & Co.Advocates &Legal ConsultantsFrancis BawabPricewaterhouseCoopersStephen CarpenterCustoms AdministrationModernization Program(CAMP)Micheal T. DabitMichael T. Dabit &AssociatesAnwar ElliyanThe Jordanian ElectricPower Co. Ltd. (JEPCO)Greater AmmanMunicipalityDavid H. HarrellCustoms AdministrationModernization Program(CAMP)George HazbounZeina JaradatPricewaterhouseCoopersRasha LaswiZalloum & Laswi Law FirmHusam Jamil MadanatLand and SurveyDirectorateFiras MalhasInternational BusinessLegal AssociatesMunaf MalkawiMufida Art MosaicMaher MelhemAbu-GhazalehProfessional Consulting(AGPC)Amer MoflehInternational BusinessLegal AssociatesKhaldoun NazerKhalifeh & PartnersOmq Al Bihar Est.Ahmad QuandourKhalifeh & PartnersOsama Y. SabbaghThe Jordanian ElectricPower Co. Ltd. (JEPCO)Stephan StephanPricewaterhouseCoopersAzzam ZalloumZalloum & Laswi Law FirmIyad ZawaidehAli Sharif Zu’bi, Advocates& Legal Consultants,member of Lex MundiKareem ZureikatAli Sharif Zu’bi, Advocates& Legal Consultants,member of Lex MundiKazakhstanBolat AbaidullayevBusiness EnvironmentImprovement Project/Pragma CorporationArdak AiyekeyevaPricewaterhouseCoopersAnvar AkhmedovFirst Credit BureauAman AlievAssistance, LLC Law FirmAskar BaigazinPricewaterhouseCoopersLegal ServicesNurlan BaimurzayevMinistry of JusticeIldus BarievGlobalink Logistics GroupAliya BaysenovaAssistance, LLC Law FirmGulnur BekmukhanbetovaMcGuireWoodsKazakhstan LLPShamshidin BizhkenovAristan ProjectManagement Group(APMG)Sergey ChetverikovPricewaterhouseCoopersMichael DarkMichael Wilson & PartnersLtd.Almaz DosserbekovAristan ProjectManagement Group(APMG)Ardak DyussembayevaAequitas Law FirmCourtney FowlerPricewaterhouseCoopersOleg GnoevykhM&M LogisticsSemion IssykAequitas Law FirmVladimir IvlevFirst Credit BureauThomas JohnsonDenton Wilde SapteElena KaevaPricewaterhouseCoopers(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 173Dina KaliPricewaterhouseCoopersLegal ServicesNursultan KassenovAristan ProjectManagement Group(APMG)Pasha KarimGlobalink Logistics GroupYekaterina KimMichael Wilson & PartnersLtd.Alexander KurganovM&M LogisticsAbdulkhamid MuminovPricewaterhouseCoopersAssel MusinaDenton Wilde SapteBerik NurgaziyevAristan ProjectManagement Group(APMG)Yuliya PenzovaAequitas Law FirmSaniya PerzadayevaMacleod DixonElvis RobertM&M LogisticsAsem ShaidildinovaPricewaterhouseCoopersKanat SkakovSalansZhaniya UssenAssistance, LLC Law FirmDubek ZhabykenovBA Services InternationalLLCDanat ZhakenovZhakenov & Partnersin association withGrundberg MocattaRakisonValerie A. ZhakenovZhakenov & Partnersin association withGrundberg MocattaRakisonLiza ZhumakhmetovaPricewaterhouseCoopersLegal ServicesAinur ZhumanbayevaMichael Wilson & PartnersLtd.KenyaGeorge AkotoAkoto & CompanyAdvocatesGeorge AregoSiginon Freight LtdAnil Madhavan ChangwonySiginon Freight LtdOliver FowlerKaplan & StrattonFiona FoxChunga AssociatesPeter GachuhiKaplan & StrattonFrancis GichuhiPrism Designs AfricaEdmond GichuruGichuru Kiplagat &AdvocatesWilliam Ikutha MaemaIseme, Kamau & MaemaAdvocatesKarori KamauIseme, Kamau & MaemaAdvocatesPatrick KararaPricewaterhouseCoopersPeter KenaniHomeline ConsolidationServices Ltd.Morris KimuliB.M. Musau & Co.AdvocatesFelix KiokoB.M. Musau & Co.AdvocatesMeshack T. KipturgoSiginon Freight LtdOwen KoimburiSCI Koimburi Tucker & Co.Alexandra KontosWalker Kontos AdvocatesGilbert LangatKenya Shippers CouncilNicholas MalonzaB.M. Musau & Co.AdvocatesVictor MajaniOsoro and Co, CertifiedPublic AccountantsSam MbuguaPhiltonRosemary MburuInstitute of TradeDevelopmentMetropol East Africa Ltd.Osoro Moses OsanoMuriu Mungai& CoAdvocatesWashington MuthamiaAlexandria FreightForwarders Ltd.Judy MwangiChunga AssociatesWachira NdegeCredit Reference BureauAfrica Ltd.Stephen OkelloPricewaterhouseCoopersErastus K. OmoloErastus & Co. CertifiedPublic AccountantsElisha OngoyaAsiema & Co AdvocatesTom OnyangoOchieng, Onyango, Kibet& OhagaCephas OsoroOsoro and Co, CertifiedPublic AccountantsMohammed RamadhanDel Ray CargoSonal SejpalAnjarwalla & KhannaAdvocatesRodgers Abwire SekweMuriu Mungai & CoAdvocatesDeepen ShahWalker Kontos AdvocatesMahat SomaneKaplan & StratonJohn Syekei NyandiekaMuriu Mungai & CoAdvocatesJoseph TarachaThe Central BankAdrian TopotiB.M. Musau & Co.AdvocatesKiribatiKenneth BardenAttorney-at-LawWilliam Wylie ClarkeHowards LawyersLawrence MullerBetio City CouncilTion NeemiaShipping Agency of KiribatiPorts AuthorityMatereta RaimanMinistry of Finance &Economic DevelopmentKoreaYong Seok AhnLee & KoDong-Ook ByunCustoms ServiceMin-Sook ChaeKorea Credit BureauHyeong-Tae ChoSamilPricewaterhouseCoopersHan-Jun ChonSamilPricewaterhouseCoopersEui Jong ChungBae, Kim & Lee LLCLionel DarrieutortSDVMarc FallySDVSang-goo HanYoon Yang Kim Shin & YuSean C. HayesAhnse Law OfficesBaek HuhHwang Mok Park P.C.,member of Lex MundiC.W. HyunKim & ChangJames I.S. JeonSojong PartnersYoung-Cheol JeongYonsei UniversityKim Jung InKorea Credit BureauGee-Hong KimHorizon Law GroupJung-In KimKorea Credit BureauYong-Deog KimKorea Credit BureauKyu-Dong KimSamilPricewaterhouseCoopersS.E. Stephan KimSojong PartnersWonhyung KimYoon Yang Kim Shin & YuKorea Information ServiceJung Myung LeeHwang Mok Park P.C.,member of Lex MundiHye Jeong LeeAhnse Law OfficesSung Whan LeeAhnse Law OfficesKwon LeeKim & ChangKyu Wha LeeLee & KoJada Soyun LeeOrrick, Herrington &Sutcliffe LLPSun-Kyoo LeeSamilPricewaterhouseCoopersJune Ha LimHwang Mok Park P.C.,member of Lex MundiPatrick J. MonaghanKim & ChangSung-Ho MoonHorizon Law GroupHo Joon MoonLee & KoJe-Sik MyoungKorea Credit BureauByung-Hun NamNamSun Industries co.Panalpina IAF Ltd.Sang Il ParkHwang Mok Park P.C.,member of Lex MundiJ.T. ParkKim & ChangJung-Taek ParkKim & ChangJeong SeoKim & ChangDong-Suk WangKorea Credit BureauKim Ji WoongKorea Credit BureauJee-Yeon YuKim & ChangKuwaitIhab AbbasCalderonAl-Fahad & Co, Deloitte &ToucheLabeed AbdalThe Law Firm of LabeedAbdalAmal AbdallahAl-Saleh & PartnersMahmoud AbdulfattahThe Law Offices of MishariAl-GhazaliLina A. AdlouniThe Law office of Al-Essa& PartnersAbdullah Al-AyoubAbdullah Kh. Al-Ayoub &Associates, member of LexMundiAmmar Al-FouzanThe Law Offices of MishariAl-GhazaliMishari M. Al-GhazaliThe Law Offices of MishariAl-GhazaliMohammed Al NoorAl-Twaijri and PartnersLaw FirmReema AliAli & PartnersAbdullah Bin AliPackaging and PlasticIndustries Co. (KSC)Tim BullockAl-Fahad & Co, Deloitte &TouchePaul DayAl Sarraf & Al RuwayehSam HabbasAl Sarraf & Al RuwayehNazih Abdul HameedAl-Saleh & PartnersSunil JoseAbu-Ghazaleh Consultingand Intellectual PropertyMazen A. KhoursheedPackaging and PlasticIndustries Co. (KSC)Jasmin Paurus KohinaAbdullah Kh. Al-Ayoub &Associates, member of LexMundiChirine Krayem MoujaesThe Law Offices of MishariAl-GhazaliDany LabakyThe Law Offices of MishariAl-GhazaliShaik Haneef MoinuddinLaw Offices of JamalAhmed AbdullahMohamed OmarAl Markaz Law FirmOmar Hamad Yousuf Al-EssaThe Law office of Al-Essa& PartnersAhmed ZakariaAl Sarraf & Al RuwayehKyrgyz RepublicAinura AbdyrakunovaLorenz Law FirmGulnara AhmatovaInternational BusinessCouncilNursulu AhmetovaUSAID BusinessEnvironment ImprovementProjectRenat AkhmetovPricewaterhouseCoopersSabyrbek AkimabevUSAID BusinessEnvironment ImprovementProjectNiyazbek AldashevLorenz Law FirmNatalia AlenkinaConsultant HoldingPetrova AlevtinaEngineering Service LtdDogadin AndreiUnion of Entrepreneurs ofKyrgyzstanTalaybek AsylbekovInternational BusinessCouncilDenis BagrovGrata Law Firm(c) The International Bank for Reconstruction and Development / The World Bank

174 Doing Business 2009Zharkymbai BaiganchukConstruction Company-KEP Stroi LtdJulia BulatovaLaw Firm "Partner"Natalia DolinskayaInternational BusinessCouncilAkjoltoi ElebesovaCredit Information BureauIshenimDamir EsenalievThe World BankSaltanat IsmailovaPricewaterhouseCoopersNurbek IsmankulovM&M LogisticsKalberdiev JunusKalmamtovichThe Gosregister of theKyrgz RepublicAbykeev KadyrAvangard Style LTDVitaliy KhabarovLaw Firm "Partner"Tatyana KimChamber of TaxConsultantsGalina KucheryavayaOrganisation Group ofProcredit HoldingNurdin KumushbekovUSAID BusinessEnvironment ImprovementProjectUsen KydyralievEntrepreneurs’ Union ofKyrgyzstanErkin MadmarovIBCBarno MarazykovaLaw Firm "Partner"Tatyana MarchenkoLorenz Law FirmOlga MorevaUSAID BusinessEnvironment ImprovementProjectJanybek MusaevAlmas NakipovPricewaterhouseCoopersAidin NazekovUSAID BusinessEnvironment ImprovementProjectSergey OseledkoErkin SakievKanat SeidalievGrata Law FirmYulia ShapovalovaUSAID BusinessEnvironment ImprovementProjectAnastasia ShloevaGlobalink Logistics GroupMirgul SmanalievaLaw Firm "Partner"Kalybek SultanovAvangard Style LTDRakhat SuyumkulovMens Ltd.Azim UsmanovGrata Law FirmAlexander VachtelSentyabr Stroi LtdLao PDRKelly BirdAsian Development BankSithong ChanthasoukDFDL Mekong Law GroupLasonexay ChanthavongDFDL Mekong Law GroupSounthorn ChanthavongDFDL Mekong Law GroupAristotle DavidDFDL Mekong Law GroupChanthaly DouangvilayPeople’s Court ofVientiane CapitalDaodeuane DuangdaraPricewaterhouseCoopersGrant FollettDFDL Mekong Law GroupDaniel HorngrenVasco Ltd.Richard IrwinPricewaterhouseCoopersKhamkhong LiemphrachanMinistry of JusticeKetsana PhommachanhMinistry of Justice,Law Research andInternational CooperationInstituteThavorn RujivanaromPricewaterhouseCoopersKhongsy SaisoutthaJudgement EnforcementOffice of VientianeCapitalSivath SengdouangchanhConsultantKhamphone SipaseuthMinistry of JusticeDanyel ThomsonDFDL Mekong Law GroupAndrea WilsonDFDL Mekong Law GroupLatviaIlze AbikaSkudra & Udris LawOfficesMike AhernPricewaterhouseCoopersMartins AljensLejins, Torgans & Partners,member of Ius LaborisLaura AusekleLatvijas BankaElina BedanovaLejins, Torgans & Partners,member of Ius LaborisEva Berlaus-GulbeSorainenIveta BerzinaSkudra & Udris LawOfficesIlze BukaldereLiepa, Skopina/ BoreniusAndis BurkevicsSorainen Law OfficesAndis ČonkaLatvijas BankaZane DžuleLiepa, Skopiņa/BoreniusZlata Elksnina-ZascirinskaPricewaterhouseCoopersIvars GrunteLoze, Grunte & CersAndris IgnatenkoEstma SIAAija KlavinskaPricewaterhouseCoopersLaw Offices Blueger &PlaudeOleg LitskevichMaritime Transport &AgenciesJanis LozeZane PaegliteSorainenBaiba PlaudeBlueger &PlaudeIvars PommersLawfirm of Glimstedt andpartnersInese RendenieceLoze, Grunte & CersSergejs RudansLiepa, Skopiņa/BoreniusDace Silava-TomsoneLejins, Torgans & Partners,member of Ius LaborisMihails ŠpikaJSC DzintarsSarmis SpilbergsKlavins&Slaidins/LAWIN,member of Lex MundiZane Stalberga - MarkvarteMarkvarte & Partneri LawOfficePāvels TjuševsEversheds Bitāns -Attorneys-at-LawMaris VainovskisEversheds Bitāns -Attorneys-at-LawVilmars VanagsRE & RE Ltd.Maija VolkovaLejins, Torgans & Partners,member of Ius LaborisAgate ZivertePricewaterhouseCoopersLebanonAssociation of Banks inLebanon (ABL)Nada Abdelsater-AbusamraRaphaël & AssociésWadih Abou NasrPricewaterhouseCoopersSoha Al MasriAbu Ghazaleh- LegalManal AssirUNDPJean BaroudiBaroudi & AssociatesRita Bou HabibAudit Department - VATDirectorateNajib ChoucairCentral BankBernard ChoueiriMinistry of JusticeSanaa DaakourThe Levant LawyersBassam DarwichP & G LevantTheodore De Mar YoussefBadri and Salim ElMeouchi Law Firm, memberof InterlegesElectricité du LibanChadia El MeouchiBadri and Salim ElMeouchi Law Firm, memberof InterlegesDania GeorgePricewaterhouseCoopersSamer GhalayiniThe Levant LawyersFady GhanemBadri and Salim ElMeouchi Law Firm, memberof InterlegesGreta HabibBadri and Salim ElMeouchi Law Firm, memberof InterlegesLouay Hajj ChehadehMinistry of FinanceAbdallah HayekHayek GroupWajih HechaimeHechaime law firmFady JamaleddineThe Levant LawyersMaria JreissatBadri and Salim ElMeouchi Law Firm, memberof InterlegesGeorges JureidiniCoserv sarl - PanalpinaAgentsGeorges KadigeKadige & Kadige Law FirmMichel KadigeKadige & Kadige Law FirmWael KhaddageMinistry of FinanceNajib KhattarKhattar AssociatesAlbert LahamGeorges MaarawiMinistry of FinanceEddy MagharikiHyam G. Mallat Law FirmGeorges MallatHyam G. Mallat Law FirmNabil MallatHyam G. Mallat Law FirmRachad MedawarObeid & Medawar Law FirmFadi MoghaizelMoghaizel Law Firm,member of Lex MundiMario MohannaPatrimoine Conseil SARLMirvat MostafaThe Levant LawyersRahaf NabbouhUNDP project of theministry of financeToufic NehmeLaw Office of AlbertLahamHermes PeterIncome Tax Department-BeirutMoussa RaphaëlRaphaël & AssociésMazen RasamnyBadri and Salim ElMeouchi Law Firm, memberof InterlegesMireille RichaTyan & Zgheib Law FirmJihad RizkallahBadri and Salim ElMeouchi Law Firm, memberof InterlegesElias A. SaadéMoghaizel Law Firm,member of Lex MundiJoseph SafarHayek GroupChristel SalemBadri and Salim ElMeouchi Law Firm, memberof InterlegesRached SarkisRached Sarkis OfficeCamille C. SifriPricewaterhouseCoopersNady TyanTyan & Zgheib Law FirmPatricia YamminePricewaterhouseCoopersRay YazbeckBadri and Salim ElMeouchi Law Firm, memberof InterlegesLesothoMark BadenhorstPricewaterhouseCoopersPaul De ChalainPricewaterhouseCoopersThuso GreenProcellGerhard GouwsNedBank Ltd.Harley & MorrisMankhebe MakumeLesotho ElectricityCompany (Pty) LtdJoão MartinsPricewaterhouseCoopersMathias MatsheSheeran & AssociatesKuena MophetheK.Mophethe Law ChambersThabo MpakaMpaka ChambersTheodore NtlatlapaDNT ArchitectsMalaika RibeiroPricewaterhouseCoopersPeter SandsSDV (Pty) LtdDuduzile SeamathaSheeran & AssociatesTiisetso Sello-MafatleSello - Mafatle Chambers(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 175Lindiwe SephomoloAssociation of LesothoEmployers and BusinessPhoka TheneSello - Mafatle ChambersLiberiaKelvin AbdallahPricewaterhouseCoopersGideon Ayi-OwooPricewaterhouseCoopersGolda A. BonahSherman & ShermanG. Raymond BrightACE Planning &Consulting GroupF. Augustus Caesar, Jr.Caesar Architects, Inc.Roy ChalkleyUmarcoCity Corporation ofMonroviaHenry Reed CooperCooper & Togbah Law FirmFrank Musah DeanDean & AssociatesPeter Doe-SumahGbehzon Holdings Inc.Dzidzedze FiadjoePricewaterhouseCoopersChristine Sonpon FreemanCooper & Togbah Law FirmCyril JonesJones & JonesGeorge KwatiaPricewaterhouseCoopersMartha LackayLiberia ElectricityCorporationSteven NeufvilleMinistry of Public WorksTogba NganganaMinistry of Public WorksSylvanus O’ ConnorAEP Consultants Inc.Chan-Chan A. PaegarSherman & ShermanJoseph N. SiawayMaersk Ltd.G. Lahaison WaritayMinistry of Public WorksDarcy WhitePricewaterhouseCoopersBen WoloLiberiaTelecommunicationsCorporationMelvin YatesCompass Inc., Clearing andForwardingHarvy T. Yuan, Sr.Liberia ElectricityCorporationLithuaniaKęstutis AdamonisSorainenMike AhernPricewaterhouseCoopersPetras BaltuseviciusDSV Transport UABKim BartholdyDSV Transport UABKristina BartusevicienePricewaterhouseCoopersVilius BernatonisSutkiene, Pilkauskas &PartnersRenata BeržanskienėSorainen Law OfficesVilma BrilinkevicieneSutkiene, Pilkauskas &PartnersDovilė BurgienėLaw Firm Lideika,Petrauskas, Valiūnas irpartneriai LAWIN, memberof Lex MundiSergej ButovLaw Firm Lideika,Petrauskas, Valiūnas irpartneriai LAWIN, memberof Lex MundiRobertas CiocysLaw Firm Lideika,Petrauskas, Valiūnas irpartneriai LAWIN, memberof Lex MundiRadville CiricaiteFoigt & Partners / RegijaBoreniusGiedre DomkuteLaw firm AAA BalticService CompanyIeva DosinaiteNorcous & Partners,member of Ius LaborisMindaugas DovidauskasFortune Law GroupVilma DovidauskieneCompetent AmerindeConsolidatedStasys DrazdauskasFoigt & Partners / RegijaBoreniusRolandas GalvėnasLaw Firm Lideika,Petrauskas, Valiūnas irpartneriai LAWIN, memberof Lex MundiSimas GudynasLaw Firm Lideika,Petrauskas, Valiūnas irpartneriai, member of LexMundAgne JakaiteLaw Firm Lideika,Petrauskas, Valiūnas irpartneriai LAWIN, memberof Lex MundiAgne JonaitytėSorainen Law OfficesViktorija KapustinskajaSorainen Law OfficesJurgita KarvelėFoigt & Partners / RegijaBoreniusJonas KiauleikisFoigt & Partners / RegijaBoreniusMindaugas KiškisLaw Firm Lideika,Petrauskas, Valiūnas irpartneriai LAWIN, memberof Lex MundiRaminta KlumbyteEgidijus KundelisPricewaterhouseCoopersŽilvinas KvietkusNorcous & Partners,member of Ius LaborisAsta MacijauskieneLaw Firm Bernotas &Dominas GlimstedtGytis MalinauskasSorainen Law OfficesLinas MargeviciusLegal Bureau of LinasMargeviciusKipras MenseviciusTomas MieliauskasLaw firm ForestaBronislovas MikutaIeva NavickaitėLaw Firm ZabielaZabielaite & PartnersŽygimantas PacevičiusFoigt & Partners / RegijaBoreniusRytis PauksteLaw Firm Lideika,Petrauskas, Valiūnas irpartneriai LAWIN, memberof Lex MundiAlgirdas PekšysSorainenJonas PilkauskasSutkiene, Pilkauskas &PartnersThomas SaulenasFORESTA Business LawGroupRimantas SimaitisNorcous & Partners,member of Ius LaborisJulija SolovjovaPricewaterhouseCoopersDaiva UšinskaitėLaw Firm AAA BalticService CompanyVilija Vaitkutė PavanLaw Firm Lideika,Petrauskas, Valiūnas irpartneriai LAWIN, memberof Lex MundiAgne VilutieneLaw Firm ForestaLina VosylieneKPMGDarius ZabielaLaw Firm Zabiela,Zabielaite & PartnersIndre ZakalskyteErnst & YoungJūratė ZarankienėErnst & YoungErnesta ZutautaiteLaw Firm ForestaAudrius ŽvybasBernotas & DominasGlimstedtLuxembourgAllen & Overy LLPLara AherneBonn Schmitt Steichen,Member of Lex MundiRene BeltjensPricewaterhouseCoopersDenis CanteleOostvogels Pfister FeytenGuy CastegnaroCastegnaro Cabinetd’avocats, member of IusLaborisChristel DumontOostvogels Pfister FeytenThomas EckerVille de Luxembourg -Service de l’électricitéGérard EischenChamber of Commerceof the Grand-Duchy ofLuxembourgMartine Gerber LemaireOostvogels Pfister FeytenAnabela FernandesPricewaterhouseCoopersJean Luc HeibySDV InternationalLogisticsIsabelle LapietraPricewaterhouseCoopersRoxanne Le LigeourLoyens & LoeffMichaël LockmanPricewaterhouseCoopersTom LoeschLinklatersNuria MartinLoyens & LoeffSéverine MocaPricewaterhouseCoopersPeter MoonsLoyens & LoeffAnne MurrathPricewaterhouseCoopersElisabeth OmesBonn Schmitt Steichen,Member of Lex MundiLaurent PaquetPricewaterhouseCoopersSimon PaulLoyens & LoeffPaul Wurth S.A.Engineering & ProjectManagementFrançoise PfeifferOostvogels Pfister FeytenDominique RobinetPricewaterhouseCoopersSerge SaussoyPricewaterhouseCoopersJean-Luc SchausLoyens & LoeffAlex SchmittBonn Schmitt Steichen,Member of Lex MundiMarleen VandenputPricewaterhouseCoopersDavide VisinPricewaterhouseCoopersMacedonia,formeryugoslavrepublic ofVioleta Angelova GerovskaIKRP Rokas & PartnersZlatko AntevskiLawyers AntevskiBenita BeleskovaIKRP Rokas & PartnersGoran BonevskiPublic Revenue OfficeBiljana ČakmakovaMens Legis CakmakovaAdvocatesKaterina CarcevaPricewaterhouseCoopersZoran CvetanoskiState Authority forGeodetic WorksPavlinka DameskaMens Legis CakmakovaAdvocatesAleksandar DimićPolenak Law FirmAleksandra DonevskaLawyers AntevskiVesna GavriloskaMens Legis CakmakovaAdvocatesAna HadzievaPolenak Law FirmSolobodan HristovskiPolenak Law FirmBiljana IckovskaLaw office NikolovskiAleksandar IckovskiLaw office NikolovskiNena IvanovskaJudicial ReformImplementation ProjectKaterina JordanovaLawyers AntevskiKristijan KarapančevskiKarapancevski CompanyDejan KnezovićLaw Office Knezovic &AssociatesEmmanuel KoenigPricewaterhouseCoopersMirjana MarkovskaMarkovska & AndrevskiIrena MitkovskaLawyers AntevskiGoce MojsoskiPricewaterhouseCoopersNational BankGoran NikolovskiLaw office NikolovskiLjupcho NikolovskiMarkovska & AndrevskiVesna PaunkoskaValentin PepeljugoskiLaw Office PepeljugoskiSonja PeshevskaLaw Office PepeljugoskiKristijan PolenakPolenak Law FirmTatjana Popovski BuloskiPolenak Law OfficeLjubica RubenMens Legis Law FirmTatjana SiskovskaPolenak Law FirmDejan StojanoskiLaw Office PepeljugoskiDzuli StojanovaMens Legis CakmakovaAdvocates(c) The International Bank for Reconstruction and Development / The World Bank

176 Doing Business 2009Suzana StojkoskaMarkovska & AndrevskiBiljana TofiloskaLawyers AntevskiSlavica TrckovaLaw Office TrckovaNatasa TrifunoskaEmpiria InternationalVladimir VasilevskiBetasped InternationalFreight ForwardingEva VeljanovskaMens Legis CakmakovaAdvocatesSanja VeljanovskaMens Legis Law FirmMetodija VelkovPolenak Law FirmDarko VuksanovićMilica ZafirovaMarkovska & AndrevskiMadagascarLalao AndriamangaEconomic DevelopmentBoard of MadagascarEric Andriamihaja RobsonEconomic DevelopmentBoard of MadagascarTsiry AndriamisamananaMadagascar ConseilInternationalJosoa Lucien AndrianelinjakaBanque CentralePhilippe BuffierEspace IngénierieDseyreMadagascar ConseilInternationalYves DuchateauSDVJohn HargreavesEconomic DevelopmentBoard of MadagascarRaphaël JakobaMadagascar ConseilInternationalPascaline R. RasamoeliarisoaCabinet Delta AuditDeloitteSahondra RabenarivoKeyserlingk - RabenarivoAssociésPierrette RajaonarisoaSDVAina RakotondrazakaLanto Tiana RalisonFIDAFRICA /PricewaterhouseCoopersAndré RandrantoAncien BâtonnierWilliam RandrianariveloFIDAFRICA /PricewaterhouseCoopersSahondra RasoarisoaDelta Audit DeloitteThéodore RaveloarisonJARY - Bureau d’EtudesArchitecture IngenierieAndriamisa RavelomananaFIDAFRICA /PricewaterhouseCoopersJean Marcel RazafimaheninaCabinet Delta AuditDeloitteNjiva RazanatsoaBanque CentraleLouis SagotCabinet d’Avocat LouisSagotDominique TatyFIDAFRICA /PricewaterhouseCoopersMalawiKevin M. CarpenterPricewaterhouseCoopersRichard Chakana2PS Cargo Co.Marshal ChilengaTF & PartnersAlan ChinulaStuart ForsterJim GhobedePricewaterhouseCoopersRoseline GramaniSavjani & Co.Aamir Rashid JakhuraFargo Group of CompaniesChimwemwe KaluaGolden & LawAnthony Kamanga, SCMinistry of JusticeDannie J. KamwazaKamwaza DesignPartnershipAlfred MajamandaMbendera & NkhonoAssociatesModecai MsishaNyirenda & Msisha LawOfficesMisheck MsiskaPricewaterhouseCoopersIsaac NsamalaKrishna SavjaniSavjani & Co.Duncan SinganoSavjani & Co.Don WhayoKnight FrankMalaysiaNadia Aim Ab. WahabAzmi & AssociatesNor Azimah Abdul AzizCompanies Commission ofMalaysiaNoor AzharS.G. Emas Sendirian BerhadZain AzlanZain & Co.Bank Negara MalaysiaMichel BarbesierSDV Sdn BhdTan Kee BengSDV Sdn BhdHong Yun ChangTay & PartnersYing Cheng CheePricewaterhouseCoopersBoon Hong ChenSkrine & Co., member ofLex MundiYuan Yuan ChengSkrine & Co., member ofLex MundiChee Hoong ChiaZain & Co.Sharon ChooiPricewaterhouseCoopersTze Keong ChungCTOS Sdn BhdNancy GanRaslan - LoongHazlan HassanNordin HassanArmeira TechnologiesSdn. Bhd.Sien Yian HeePricewaterhouseCoopersKumar KanagasabaiSkrine & Co., member ofLex MundiGeeta KaurSDV Sdn BhdChuan Keat KhooPricewaterhouseCoopersChristopher LeeWong & PartnersTheresa LimPricewaterhouseCoopersKoon Huan LimSkrine & Co., member ofLex MundiCaesar LoongRaslan - LoongLen Toong LowNorth PortKhin Lian LowZain & Co.Suhara Mohamad SidikAzmi & AssociatesAzmi Mohd AliAzmi & AssociatesZuhaidi Mohd ShahariAzmi & AssociatesShahri OmarNorth PortNormaizan RahimAzmi & AssociatesGayathiry RamalingamZain & Co.Chandran RamasamyPricewaterhouseCoopersDinesh RatnarajahAzman, Davidson & Co.Hsian SiongWong & PartnersEe Ling TanTay & PartnersHeng Choon WanPricewaterhouseCoopersPeter WeePricewaterhouseCoopersKim Hoe YeoNorth PortMelina YongRaslan - LoongMaldivesMohamed AkhsanArcheng Pvt Ltd.Mohideen BawaHorizon Fisheries Pvt.LimitedJatindra BhattrayPricewaterhouseCoopersMohamed HameedAntrac Pvt. Ltd.Nadiya HassanDheena HussainShah, Hussain & Co.Barristers & AttorneysYudhishtran KanagasabaiPricewaterhouseCoopersLaila ManikShah, Hussain & Co.Barristers & AttorneysAishath RiznaShah, Hussain & Co.Barristers & Attorneys.Aminath RiznaShah, Hussain & Co.Barristers & AttorneysAishath SamahBank of Maldives Plc.Shuaib M. ShahShah, Hussain & Co.Barristers & AttorneysMaliTraore BabaTMS - TransitManutention ServicesSARLBaya BerthéAmadou CamaraSCP Camara TraoréJonathan DarbouxBCEAOFatima DiarraOffice Notarial AhmadouToure, Notaire a BamakoMohamed Abdoulaye DiopSDVFatimatou Zahra DiopBCEAOJean Claude GnamienFIDAFRICA /PricewaterhouseCoopersHermann GnangoFIDAFRICA /PricewaterhouseCoopersMamadou Ismaïla KonateJurifis Consult MaliMamadou MaigaL’union des CaissesMutuelles Depagne et desCrédits du MaliEvelyne M’BassidgéFIDAFRICA /PricewaterhouseCoopersAdeline MessouFIDAFRICA /PricewaterhouseCoopersMalick Badara SowAtelier d’Architecture etd’UrbanismeSalif TallEtude de Me ToureDominique TatyFIDAFRICA /PricewaterhouseCoopersAhmadou ToureOffice Notarial AhmadouToure, Notaire a BamakoMadhou TraoreCentre Nationalde Promotion desInvestissements - CNPIFousséni TraoréFIDAFRICA /PricewaterhouseCoopersMarshallIslandsKenneth BardenAttorney-at-LawJerry KramerPacific International, Inc.Philip WelchMicronesian ShippingAgencies Inc.MauritaniaTidiane BalBSD & AssociésYoussoupha DialloBSD & AssociésMaouloud Vall El Hady SeyidEtude Hady MaouloudvallHamoud IsmailSMPNCheikani JulesCabinet Me JulesMohamed LamBSD & AssociésWedou MohamedMaurihandlingAhmed Salem OuldBouhoubeyniCabinet BouhoubeyniAhmed Salem Ould HacenBanque CentraleMohamedou Ould HacenBureau TASMIMHamdi Ould MahjoubPrivate PracticeAliou SallAssurim ConsultingCheikh SallEtude Hady MaouloudvallDominique TatyFIDAFRICA /PricewaterhouseCoopersOuld Yahya YeslemEtude Maître YeslemO.YahyaMauritiusRyan AllasPricewaterhouseCoopersBPML Freeport ServicesLtdPhilip BondPricewaterhouseCoopersAndré BonieuxPricewaterhouseCoopersUrmila BoolellBanymandhub BoolellChambers(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 177Thierry ChellenBenoit ChambersYandraduth GoogoolyeBank of MauritiusThierry KoenigDe Comarmond & KoenigLegis & PartnersDidier LenettePricewaterhouseCoopersDamien MametPricewaterhouseCoopersLegal ServicesJean Pierre MontocchioLoganayagan MunianArtisco InternationalKhalil MunseeaFarfat Enterprise Ltd.Camille PoulettyDe Comarmond & KoenigIqbal RajahbaleeBLC ChambersAndre RobertAttorney-at-LawDeviantee SobarunRegistrar-General’sDepartmentVikash TakoorBank of MauritiusParikshat TeeluckMaersk Ltd.Bobby YerkiahPricewaterhouseCoopersMexicoGabriel I. Aguilar BustamentePricewaterhouseCoopersSilvia AguiñigaPricewaterhouseCoopersIsis AnayaSEDECOAlberto BalderasJáuregui, Navarrete yNader, S.C.Carlos CanoPricewaterhouseCoopersMaría Casas LópezBaker & McKenzieNallieli CidPricewaterhouseCoopersRodrigo ConesaRitch Mueller, S.C.Eduardo Corzo RamosHolland & Knight-Gallástegui y Lozano, S.C.Raul de la Sierra ScauleyBarrera, Siqueiros y TorresLandaOscar de La VegaBasham, Ringe y Correa,member of Ius LaborisDolores EnriquezPricewaterhouseCoopersMariano Enriquez-MejiaBaker & McKenzieSalvador Esquivel BernalPricewaterhouseCoopersCésar Fernando GomezBarrera, Siqueiros y TorresLandaJulio Flores LunaGoodrich, Riquelme yAsociados, member of LexMundiCarlos FriasPricewaterhouseCoopersManuel GaliciaGalicia y Robles, S.C.Celina Cossette GarciaPricewaterhouseCoopersLegal ServicesHans GoebelJáuregui, Navarrete yNader, S.C.Dalia GoldsmitPricewaterhouseCoopersDaniel Gómez AlbaCAAAREMTeresa de Lourdes GómezNeriGoodrich, Riquelme yAsociados, member of LexMundiHugo GonzalezBaker & McKenzieCesar GonzalezPricewaterhouseCoopersEugenia González RivasGoodrich, Riquelme yAsociadosAlvaro Gonzalez-SchiaffinoPricewaterhouseCoopersBenito GuerreroGlucsa del PacificoYves Hayaux-du-TillyJáuregui, Navarrete yNader, S.C.Rodrigo Hernández TeránPricewaterhouseCoopersAlejandro LedesmaPricewaterhouseCoopersAdriana LopezPricewaterhouseCoopersLegal ServicesAna Paula López Padilla yLapuenteBarrera, Siqueiros y TorresLandaGerardo Lozano AlarcónHolland & Knight-Gallástegui y Lozano, S.C.Lorenza Luengo GomezmontBaker & McKenzieLaura MacartyPricewaterhouseCoopersCarlos Manuel MartinezPricewaterhouseCoopersEdgar Francisco MartínezHerrastiGoodrich, Riquelme yAsociadosBernardo Martínez NegreteGalicia y Robles, S.C.Fernando MedelNotary Public 218 of theFederal DistrictCarla MendozaBaker & McKenzieCarlos E. MontemayorPricewaterhouseCoopersAlonso Martin MontesPricewaterhouseCoopersLegal ServicesRocío MontesPricewaterhouseCoopersMichelle MuciñoPMC AsociadosGabriela NassauRitch Mueller, S.C.Marco NavaPricewaterhouseCoopersArturo PedromoGalicia y Robles, S.C.Lázaro PeñaPricewaterhouseCoopersJuan Manuel PerezPricewaterhouseCoopersLegal ServicesNicolás PérezGalicia y Robles, S.C.Gabriela Pérez Castro Poncede LeónMiranda & Estavillo, S.C.Pablo Perezalonso EguíaRitch Mueller, S. C.Leonel PereznietoJáuregui, Navarrete yNader, S.C.Guillermo PiecarchicPMC AsociadosJosé PiecarchicPMC AsociadosClaudia RíosPricewaterhouseCoopersMario Alberto RochaPricewaterhouseCoopersCecilia RojasGalicia y Robles, S.C.Arturo Ruiz MassieuPricewaterhouseCoopersIsrael SaldañaPricewaterhouseCoopersJorge SanchezGoodrich, Riquelme yAsociadosPaola Sánchez HernandezBarrera, Siqueiros y TorresLandaCristina Sánchez-UrtizMiranda & Estavillo, S.C.Fernando Santamaria-LinaresPricewaterhouseCoopersLegal ServicesMonica Schiaffino PérezBasham, Ringe y Correa,member of Ius LaborisJuan Francisco Torres LandaRuffoBarrera, Siqueiros y TorresLandaAntonio Torres-CabelloCAAAREMMaribel Trigo AjaGoodrich, Riquelme yAsociados, member of LexMundiLayla Vargas MugaGoodrich, Riquelme yAsociados, member of LexMundiCarlos VelaPricewaterhouseCoopersMicronesiaEric Emeka AkamigboPohnpei State GovernmentKenneth BardenAttorney-at-LawM ol d ovaDinu ArmasuForeign InvestorsAssociationMaxim BanagaPricewaterhouseCoopersEduard BoianPricewaterhouseCoopersVitaliy Nikolaevich BulgacIndependent ConsultantVictor BuracVictor Burac Law FirmMihail BuruianaBuruiana & PartnersVictor BurunsusThe World BankAndrei CaciurencoACI PartnersGeorghu CalugharuUnion of Employers inBuilding and ConstructionMaterials IndustryAndrian CanduPricewaterhouseCoopersLegal ServicesOctavian CazacTurcan & TurcanSvetlana CebanPricewaterhouseCoopersVitalie CiofuGladei & PartnersBogdan CiubotaruTurcan &TurcanAureliu Anatol ColencoCommercial CourtAlla CotosPricewaterhouseCoopersSergiu DumitrascoPricewaterhouseCoopersSerghei FilatovACI PartnersFeodosia FurculitaCustoms ServiceRoger GladeiGladei & PartnersSilvia GrosuPricewaterhouseCoopersRoman GutuOxana GuţuValeriu LazarBISVictor A. LevintsaLevintsa & AssociatesAndrei LopusneacUnion FenosaInternationalCristina MartinACI PartnersMihaela MitroiPricewaterhouseCoopersMarin MoraruPricewaterhouseCoopersGleb MorozovAlexandru MunteanuPricewaterhouseCoopersIgor OdobescuACI PartnersRuslan PirnevuQuehenberger-HellmannSRLMaria PopescuPricewaterhouseCoopersNicolae PosturusuCustoms ServiceSilvia RaduUnion FenosaInternationalIon RaileanUnion of Employers inBuilding and ConstructionMaterials IndustryMihai RoscovanBusiness ConsultingInstitutePavel SarghiPricewaterhouseCoopersAntonina SevcencoViorel SirghiBSMB Legal CounsellorsTatiana StavinschiPricewaterhouseCoopersSerghei ToncuPricewaterhouseCoopersNicolae TriboiNational EnergyRegulatory AgencyAlexander TurcanTurcan & TurcanEvgeniy UntiloUnion of Employers inBuilding and ConstructionMaterials IndustryIrina VerhovetchiACI PartnersDaniela ZahariaACI PartnersMarina ZanogaTurcan & TurcanMongoliaTomas BalcoPricewaterhouseCoopersBadarch BayarmaaLynch & MahoneyBatzaya BodikhuuAnand & BatzayaAdvocatesDavid BuxbaumAnderson & AndersonBatbayar ByambaaGTS AdvocatesEnkh-AmgalanChoidogdemidGobi CorporationKhatanbat DashdarjaaArlex Consulting ServicesDelgermaaGobi CorporationCourtney FowlerPricewaterhouseCoopersDamdinsuren KhandTsets Law Firm(c) The International Bank for Reconstruction and Development / The World Bank

178 Doing Business 2009Odmaa KhurelboldAnderson & AndersonDaniel MahoneyLynch & MahoneyLeylim MizamkhanPricewaterhouseCoopersOdonhuu MuuzeeTsets Law FirmBayartsetseg N.Chono CorporationEnkhriimaa N.Tuushin Company Ltd.Zorigt N.Tuushin Company Ltd.Sarantsatsral OchirpurevUrkh CompanyChristian PackardAnderson & AndersonUranbaatar S.Arlex Consulting ServicesJocelyn SteinerLynch & MahoneyOdbaatar SukhbaatarAnderson & AndersonTsogt TsendAdministrative Court ofCapital CityAmangyeld TuulCredit RegistryArslaa UrjinUlaanbaatar ElectricityDistribution NetworkCompanyMichelle ZorigArlex Consulting ServicesMontenegroRene BijvoetPricewaterhouseCoopersBojana BogojevićPricewaterhouseCoopersVasilije BoškovićLaw Firm BoškovićČelebić CompanyMark CrowfordOpportunity BankJelena DjokićPricewaterhouseCoopersJovana IlićPricewaterhouseCoopersNada JovanovićCentral BankAna KaranikićMontenegrin EmployersFederationRadoš KastratovićKastratović Law OfficeÐorđe KrivokapićKaranović & NikolićAna KrsmanovićInstitute for StrategicStudies and PrognosesMontenegro BusinessAllianceAleksandar MiljkovićPricewaterhouseCoopersVeljko PavičevićOpportunity BankPredrag PavličićMontecco INCZorica PeshićLaw Office VujacićNovica PešićLaw Office VujacićSnežana PešićPricewaterhouseCoopersDragana RadevićCenter forEnterpreneurship andEconomic DevelopmentJelena VujišićLaw Office VujacićLana VukmirovićPrelevic Law FirmVeselin VukovićCentral BankMoroccoBank Al-MaghribAziz AbouelouafaGlobex Maritime Co.Mly Hicham AlaouiGlobex Maritime Co.Myriam Emmanuelle BennaniAmin Hajji & AssociésAssociation d’AvocatsRachid BenzakourCabinet d’AvocatsBenzakour & LahbabiRichard CantinJuristructures - ProjectManagement & LegalAdvisory Services LLPMahat ChraibiAlleance advisory MarocDriss DebbaghKettani Law FirmYoussef El FalahABA Rule of LawInitiative-MoroccoHafid ElbazeAlleance advisory MarocMourad FaouziOulamine Law GroupNawal JellouliMinistère de l’économie etdes financesAzeddine KabbajBarreau de CasablancaMehdi KettaniAli Kettani Law OfficeNadia KettaniKettani Law FirmRita KettaniKettani Law FirmBouchaib LabkiriGlobexline SARLWilfried Le BihanCMS Bureau FrancisLefebvreMichel LecerfAlleance advisory MarocRéda OulamineOulamine Law GroupHassan RahmouniHassan Rahmouni Law FirmNesrine RoudaneNero Boutique Law FirmMorgane Saint-JalmesKettani Law FirmHoucine SefriouiPresident de la CAAFRachid SenhajiOrdre des architectes deCasablancaMarc VeuillotAlleance advisory MarocMozambiqueSalimo AbdulaConfederation of BusinessAssociationsMark BadenhorstPricewaterhouseCoopersCarolina BalatePricewaterhouseCoopersArmindo Braz BarradasMinistry of Industry andCommerceTimothy W. BornUSAIDJosé Manuel CaldeiraSal & Caldeira -Advogados e Consultores,LdaEduardo CalúSal & Caldeira -Advogados e Consultores,LdaAlexandra CarvalhoMonjardinoKátia CassamoMozlegal ldaHenrique Castro-ArnaroArquitectos E Associados,LDAPaulo CenteioMGA Advogados &ConsultoresPedro ChabelaElectricidade deMoçambique E.P.Pedro Ernesto ChambeMoCargoAnastácia ChamusseBanco de MoçambiqueDipak ChandulalMGA Advogados &ConsultoresMucio ChebeteMoCargoJonas ChitsumbaElectricidade deMoçambique E.P.Ahmad ChothiaManica Freight ServicesS.A.R.LCarol Christie SmitMozlegal LdaPedro CoutoH. Gamito, Couto,Gonçalves Pereirae Castelo Branco &AssociadosSimeai CuambaCuamba AdvogadoPaul De ChalainPricewaterhouseCoopersCarlos de Sousa e BritoCarlos de Sousa & Brito &AssociadosFulgêncio DimandeManica Freight ServicesS.A.R.LMaria João DionísioPimenta, Dionísio eAssociadosTelmo FerreiraH. Gamito, Couto,Gonçalves Pereirae Castelo Branco &AssociadosJose ForjazJose Forjaz ArquitectosAdrian FreyMozlegal LdaPaulo FumaneConfederation of BusinessAssociationsMartins GarrineManica Freight ServicesS.A.R.LJennifer GarveyNipul Kailashcumar GovanPimenta, Dionísio eAssociadosJorge GraçaMGA Advogados &ConsultoresSoraia IssufoSal & Caldeira -Advogados e Consultores,LdaJorge Jorge GraçaMGA Advogados &ConsultoresNeima JossubMozlegal LdaFriedrich KaufmannMinistério da Indústria eComércioJim LafleurConfederation ofBusiness associations ofMozambiqueRufino LucasTEC Ténicos Construtores,LDAEugénio LuisBanco de MoçambiqueIvan Carlos MacôoSal & Caldeira -Advogados e Consultores,LdaJaime MagumbeSal & Caldeira -Advogados e Consultores,LdaSamuel Munzele MaimboThe World BankManuel Didier MalungaNational Directorate ofRegistry and NotariesJoão MartinsPricewaterhouseCoopersCamilo MateMGA Advogados &ConsultoresCarlos Rafa MateRoyal Norwegian EmbassyGenaro MouraManica Freight ServicesS.A.R.LJulio MutisseSal & Caldeira -Advogados e Consultores,LdaLara NarcyH. Gamito, Couto,Gonçalves Pereirae Castelo Branco &AssociadosAuxílio Eugénio NhabangaFernanda Lopes &Associados AdvogadosEmilio R. NhamissitaneAdvogadoIlidio Alexandre OmbeElectricidade deMoçambique E.P.Miguel PaivaMozlegal LdaPaulo PimentaPimenta, Dionísio eAssociadosAntónio de Vasconcelos PortoVasconcelos Porto &AssociadosJosé Augusto Tomo PsicoBanco de MoçambiqueMalaika RibeiroPricewaterhouseCoopersLuís Filipe RodriguesSal & Caldeira -Advogados e Consultores,LdaAna Filipa Russo de SáSilva GarciaFirza SadekPimenta, Dionísio eAssociadosCarlos SchwalbachJose Forjaz ArquitectosMuchimba Sikumba-DilsMSD InvestmentsKatia TouraisSal & Caldeira -Advogados e Consultores,LdaAntónio VelosoPimenta, Dionísio eAssociadosNamibiaJoos AgenbachKoep PartnersMark BadenhorstPricewaterhouseCoopersBenita BlumeH.D. Bossau & Co.Hanno D. BossauH.D. Bossau & Co.Albé BothaPricewaterhouseCoopersLorna CelliersBDO Spencer StewardEsi ChaseAdvocateAndy ChaseStauch+PartnersArchitectsPaul De ChalainPricewaterhouseCoopersEddie DichtlWoker Freight ServicesFerdinand DienerCity of Windhoek PowerDepartmentNellie du ToitPricewaterhouseCoopers(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 179Hans-Bruno GerdesEngling, Stritter &PartnersIsmarelda HangueDeeds OfficeSebby KankondiPorts AuthorityHerman Charl KinghornKinghorn AssociatesfPeter Frank KoepP.F. Koep & Co.Frank KöpplingerG.F. Köpplinger LegalPractitionersNorbert LiebichTransworld Cargo (PTY)Ltd.John D. MandyStock ExchangeRichard Traugott DiethelmMuellerKoep PartnersBrigitte NependaH.D. Bossau & Co.Carina OberholzerPricewaterhouseCoopersJesse SchickerlingThe Law Society of NamibiaNdapewa ShipopyeniRetha SteinmannThe Law Society OfNamibiaAxel StritterEngling, Stritter &PartnersMarius van BredaTransUnion NamibiaLourens WillersG.F. Köpplinger LegalPractitionersRenate WilliamsonP.F. Koep & Co.Paul A. E. WolffManica Group Pty. Ltd.NepalAnil Chandra AdhikariCredit Information BureauAjay GhimireApex Law ChamberJagat B. KhadkaShangri-La Freight Pvt.Ltd.LD MahatCSC & Co. /PricewaterhouseCoopersAshok Man KapaliShangri-La Freight Pvt.Ltd.Purnachitra PradhanKarja Suchana KendraLtd(CIB)Devendra PradhanPradhan & AssociatesMadan Krishna SharmaCSC & Co. /PricewaterhouseCoopersSudheer ShresthaKusum Law FirmRamji ShresthaPradhan & AssociatesRam Chandra SubediSupreme Court of Nepal,Apex Law ChamberAnup UpretiPioneer Law AssociatesNetherlandsRichard BakkerOcean - TransInternational B.V.BDO CampsObersAccountants &Belastingadviseurs B.V.Jan BezemPricewaterhouseCoopersKarin W.M. BodewesBaker & McKenzie N.V.Jacqueline van den BoschHouthoff Buruma N.V.Roland BrandsmaPricewaterhouseCoopersHuub BrinkmanBaker & McKenzie N.V.Margriet de BoerDe Brauw BlackstoneWestbroek N.V.Rolef de WeijsHouthoff Buruma N.V.Friso FeitsmaPricewaterhouseCoopersJeroen HollandNautaDutilh AttorneysFons HoogeveenPricewaterhouseCoopersJan-Wilem de JongHouthoff Buruma N.V.Alexander KaarlsHouthoff Buruma N.V.Martine KosHouthoff Buruma N.V.Filip KrsteskiVan Doorne N.V.Hans MensonideKennedy Van der LaanMartijn MolenaarNautaDutilh AttorneysCharlotte NiggebruggeHouthoff Buruma N.V.Hugo OppelaarHouthoff Buruma N.V.Ralf PietersPricewaterhouseCoopersMark G. RebergenDe Brauw BlackstoneWestbroek N.V.Hugo ReumkensVan Doorne N.V.Stefan SagelDe Brauw BlackstoneWestbroek N.V.Jan Willem SchenkBaker & McKenzie N.V.Robert SchrageRoyal NetherlandsNotarial OrganizationPiet SchroederBaker & McKenzie N.V.Hans Londonck SluijkHouthoff Buruma N.V.SDV B.V.Jellienke StamhuisDe Brauw BlackstoneWestbroek N.V.Maarten TinnemansDe Brauw BlackstoneWestbroek N.V.Jaap Jan TrommelNautaDutilh AttorneysHelene van BommelPricewaterhouseCoopersCaspar van den ThillartMinistry of Housing,Spatial Planning and theEnvironment - GovernmentBuildings AgencyCees van den UdenhoutPaul van der MolenCadastre, Land Registryand Mapping AgencyLiane van der VrugtVédéVé Legal B.V.Sjaak van LeeuwenJan van OorschotNV ContinuonFrederic VerhoevenHouthoff Buruma N.V.Marcel WillemsKennedy Van der LaanChristiaan ZijderveldHouthoff Buruma N.V.Kim ZwartscholtenPricewaterhouseCoopersNew ZealandDouglas AldersladeChapman TrippMatthew AllisonVeda AdvantageJania BaigentSimpson Grierson, memberof Lex MundiKevin BestPricewaterhouseCoopersGeoff BevanChapman TrippShelley CaveSimpson Grierson, memberof Lex MundiJohn CuthbertsonPricewaterhouseCoopersJames GibsonBell GullyRichard HoldenSimpson Grierson, memberof Lex MundiWanita LalaPricewaterhouseCoopersKate LaneMinter Ellison Rudd WattsThomas LeslieBell GullyAaron LloydMinter Ellison Rudd WattsRobert MuirLand Information NewZealandIan PageBRANZMihai PascariuMinter Ellison Rudd WattsJohn PowellRussell McVeaghMark RussellSimpson Grierson, memberof Lex MundiNeil TierGrant Thornton Ltd.SDVMurray TingeyBell GullyRoss vander SchyffMinistry of EconomicDevelopmentSimon VanniniDaniel VizorBell GullyNicaraguaDiana AguilarACZALAWGuillermo Alemán GómezACZALAWBernardo ArauzBautrans & LogisticsBertha Argüello de RizoF.A. Arias & MuñozDavid Urcuyo BáezPricewaterhouseCoopersMinerva Adriana BellorínRodríguezACZALAWBendaña & BendañaCaroline BonoPricewaterhouseCoopersThelma CarrionAguilar Castillo LoveHumberto CarriónCarrión, Somarriba &AsociadosGloria Maria de AlvaradoAlvarado y Asociados,member of Lex MundiFrancis DíazGarcía & BodánMaricarmen Espinosa SeguraMolina & AsociadosCentral LawMervin EstradaGarcía & BodánAlejandro Fernández deCastroPricewaterhouseCoopersTerencio García MontenegroGarcía & BodánGerardo HernandezConsortium - Taboada &AsociadosRuth HuetePricewaterhouseCoopersMariela JiménezACZALAWPablo MogollonTransUnionYalí Molina PalaciosMolina & AsociadosCentral LawAlvaro Molina VacaMolina & AsociadosCentral LawRoberto MontesArias & MuñozSoraya Montoya HerreraMolina & AsociadosCentral LawAmilcar NavarroGarcía & BodánRamón OrtegaPricewaterhouseCoopersSilvio G. Otero Q.GlobalTransInternacionalAndrea PaniaguaPricewaterhouseCoopersRóger PérezArias & MuñozJulio PinedoPricewaterhouseCoopersCarlos Taboada RodríguezConsortium - Taboada &AsociadosCarlos Jose Salinas BlandinoAlvarado y Asociados,member of Lex MundiFelipe SánchezACZALAWAlfonso José Sandino GraneraConsortium - Taboada &AsociadosJulio E. SequeiraEvenor Valdivia P. &AsociadosArnulfo SomarribaTransUnionRodrigo Taboada RodríguezConsortium - Taboada &AsociadosJuan TejadaPricewaterhouseCoopersCarlos TellezGarcía & BodánDavid UrcuyoPricewaterhouseCoopersNigerAliou AmadouS.C.P.A. MandelaKarim ArzikaConservation FoncièreMahamane BabaSDVAlain BlambertSDVMoussa CoulibalyCabinet d’Avocats Souna-CoulibalyJonathan DarbouxBCEAOAïssa DegbeyEcoBankFatimatou Zahra DiopBCEAOBernard DuffrosSociété d’Exploitation desEaux du NigerJean Claude GnamienFIDAFRICA /PricewaterhouseCoopersHermann GnangoFIDAFRICA /PricewaterhouseCoopersSouley Hammi IlliassouEtude d’Avocats - Marc LeBihan & Collaborateurs(c) The International Bank for Reconstruction and Development / The World Bank

180 Doing Business 2009Diaouga HaouaEtude de Maître DjiboAïssatouDodo Dan Gado HaouaEtude de Maître Dodo DanGado HaouaIssoufou IssaDirection Générale desImpôtsSeybou IssifiCommunauté Urbaine deNiameyBernar-Oliver KouaoviCabinet KouaoviFati Kountche-AdjiCabinet Fati KountcheFatouma LantoEtude d’Avocats Marc LeBihan et CollaborateursMarc Le BihanEtude d’Avocats Marc LeBihan & CollaborateursDiallo Rayanatou LoutouCabinet Loutou -ArchitectesLaouali MadougouEtude d’Avocats Marc LeBihan & CollaborateursBoubacar Nouhou MaigaE.N.G.E.Saadou MaiguizoBureau d’EtudesTechniques d’Assistanceet de Suirveillance enConstruction CivileMarie-Virginie MamoudouChambre Nationale desNotaires du NigerAoula MamoudouMinistère de l’Urbanisme,de l’Habitat et duCadastreMamane Sani MananeBureau d’Etudes Bala &HimoEvelyne M’BassidgéFIDAFRICA /PricewaterhouseCoopersAdeline MessouFIDAFRICA /PricewaterhouseCoopersYayé MounkaïlaCabinet d’AvocatsMounkaila-NiandouIbrahim MounouniBureau d’Etudes Bala &HimoMayaki OumarouDess NotarialSahabi OumarouThemis InternationalConsultantsAchimi M. RiliwanouEtude de Maître AchimiRiliwanouAbdou Yacouba SaïdouCabinet AspauMano SalaouCabinet d’Avocats ManoSalaouBoubacar SalaouEtude de Maître BoubacarSalaouDaouda SamnaS.C.P.A. MandelaHalilou SaniNigerAbdou Moussa SanoussiE.N.G.E.Dominique TatyFIDAFRICA /PricewaterhouseCoopersIdrissa TchernakaEtude d’Avocats - Marc LeBihan & CollaborateursFousséni TraoréFIDAFRICA /PricewaterhouseCoopersHamadou YacoubaEtude de Maître DjiboAïssatouNigeriaOluseyi Abiodun AkinwunmiAkinwunmi & Busari, LegalPractioners (A & B)Olaleye AdebiyiWTS Adebiyi & AssociatesTemitayo AdegokeAluko & OyebodeAdeola AdeiyeUdo Udoma & Belo-OsagieSaheed A. AderemiFrancis AdewaleVista Bridge GlobalResources LimitedAdesegun AgbebiyiAluko & OyebodeGboalhan AgboluajeAelex, Legal Practitioners& ArbitratorsDaniel AgborUdo Udoma & Belo-OsagieKenneth AitkenPricewaterhouseCoopersUche AjaegbuNigeria Employers’Consultative AssemblyOwolabi AnimashaunScotech UniversalResources LimitedLinda ArifayanWTS Adebiyi & AssociatesBarr. N.U. ChianakwalamLegal Standard ConsultingAkinbo A. A. CornerstoneYomm Kinboss NigeriaLimitedKofo DosekunAluko & OyebodeEmmanuel EgwuaguObla & Co.Jude Bienose EhieduOlisa Agbakoba &AssociatesNnenna EjekamNnenna Ejekam AssociatesOlusoji EliasOlusoji Elias and CompanyAnse Agu EzetahChief Law Agu Ezetah& Co.Yemi IdowuPricewaterhouseCoopersAgent Benjamin Ihua-MaduenyiIhua & IhuaFemi David IkotunZiongate ChamersOkorie KaluPunuka Attorneys &SolicitorsFolajimi MohammedOlusoji Elias and CompanyRamat MuhammadJ.K. Adamu & CoVictor NwakasiOlisa Agbakoba &AssociatesGodwin OblaObla & Co.Motunrayo OdumosuPricewaterhouseCoopersOzofu OgiemudiaUdo Udoma & Belo-OsagieMathias OkojiePunuka Attorneys &SolicitorsPatrick OkonjoOkonjo, Odiawa & EbieDozie OkwuosahCentral BankTitilola OlatejuOkonjo, Odiawa & EbieAyodeji OlomojobiAluko & OyebodeFriday OmoregbeeAdono-See ResourcesNigeria LimitedFred OnuobiaG. Elias & Co. Solicitorsand AdvocatesTochukwu OnyiukePunuka Attorneys &SolicitorsTunde OsasonaWhitestone WorldwideLtd.Olufemi OsosanyaHLB Z.O. Ososanya & Co.Gbenga OyebodeAluko & OyebodeOlushola SalauWTS Adebiyi & AssociatesMohammed SaniSmah Integrated ServicesLtd.Tunji TiamiyuMultifreightlogisticsNIG Ltd.Reginald UdomAluko & OyebodeUche UgoiAkinwunmi & Busari, LegalPractioners (A & B)Aniekan UkpanahUdo Udoma & Belo-OsagieMaxwell UkpeborWTS Adebiyi & AssociatesAdamu M. UsmanF.O. Akinrele & Co.Tokunbo WahabAluko & OyebodeN orwayAnders Aasland KittelsenAdvokatfirmaet SchjødtdaBjørn Erik AndersenDnB NorJan L. BackerWikborg, Rein & Co.Stig BergeThommessen KreftingGreve Lund AS, member ofLex MundiCarl Arthur ChristiansenRaeder AdvokatfirmaMagnar DanielsenNorwegian MappingAuthority, Cadastre andLand RegistryKnut EkernPricewaterhouseCoopersStein FagerhaugDalan advokatfirma DAMarie FjulsrudAdvokatfirmaet Hjort DA,member of Ius LaborisClaus R. FlinderSimonsen Advokatfirma DAAmund FougnerAdvokatfirmaet Hjort DA,member of Ius LaborisGeir FrøholmAdvokatfirmaet SchjødtD.A.Mads FuglesangAdvokatfirmaet SelmerD.A.Ingenborg GjølstadThommessen KreftingGreve Lund AS, member ofLex MundiPål HasnerPricewaterhouseCoopersRenate Iren HeggelundAdvokatfirmaet SelmerD.A.Odd HyllandPricewaterhouseCoopersTove Ihle-HansenPricewaterhouseCoopersJónar TransportHanne KarlsenRaeder AdvokatfirmaNiels R. KiaerRime Advokatfirma DABjørn H. KiseAdvokatfirma Vogt &Wiig A.S.Ole Fredrik MellebyRaeder AdvokatfirmaKarl Erik NedregottenPricewaterhouseCoopersThomas NordgårdVogt & Wiig ASOle Kristian OlsbyHomble Olsbyadvokatfirma ASJohan RatvikDLA Piper Norway DAAnne Ulset SandeKvale & Co. AdvokatfirmaANSVegard SivertsenDeloitte, member ofDeloitte Touche TohmatsuStåle Skutle ArnesonAdvokatfirma Vogt &Wiig A.S.Simen Smeby LiumWikborg, Rein & Co.Christel SpannowPricewaterhouseCoopersBernt Olav SteinlandAdvokatfirmaet SelmerD.A.Svein SullandAdvokatfirmaet SelmerD.A.Espen TrædalPricewaterhouseCoopersOmanAbdulhakeem Zahran al-AbriMinistry of HousingHazem H. Abu-GhazalehAbu Ghazel IntellectualPropertySyed Nasir AhmedDamcoZubaida Fakir Mohamed AlBalushiCentral BankAhmed Al BarwaniDenton Wilde SapteAzzan Qasim Al BusaidiInternational ResearchFoundationKhamis Abdullah Al-FarsiMinistry of Commerce andIndustrySaid bin Saad Al ShahrySaid Al Shahry Law OfficeAli Nassir Seif Al-BualyAl-Bualy Attorneys at Law& Legal ConsultantsMohsin Ahmed AlawiAl-HadadMohsin Al-Hadad & AmurAl-Kiyumi & PartnersKhalid Khamis Al-HashmiMuscat MunicipalityAbdullah AlsaidiDr. Abdullah Alsaidi LawofficeSaif Al-SaidiDr. Saif Al-Saidi Advocatesand Legal ConsultantsMohammed AlshahriMohammed Alshahri &AssociatesMinistry of Housing.Hamad M. Al-SharjiHamad Al-Sharji, PeterMansour & Co.Jihad Al-TaieJihad Al-Taie & AssociatesMajid Al TokiTrowers & HamlinsSami Salim Al AsmiThe Omani Center forInvestment Promotion& Export Development(OCIPED)Gaby CobosCurtis Mallet - Prevost,Colt & Mosle LLPM.K. DasBank MuscatMehreen B. ElahiAl Alawi, Mansoor Jamal& Co.(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 181Abshaer M. ElgalalDr. Saif Al-Saidi Advocatesand Legal ConsultantsAlessandro GugolzSaid Al Shahry Law OfficeDali HabboubDenton Wilde SapteSunil JosephMaersk LineP.E. Lalachen MJHassan Al Ansari LegalConsultancyMohamded MagdiJ. Nassir & PartnersPushpa MalaniPricewaterhouseCoopersMansoor Jamal MalikAl Alawi, Mansoor Jamal& Co.Kapil MehtaMaersk LineSubha MohanCurtis Mallet - Prevost,Colt & Mosle LLPAla Hassan MoosaMuscat ElectricityDistribution CompanyJessica MorrisDenton Wilde SapteBruce PalmerCurtis Mallet - Prevost,Colt & Mosle LLPMarian PaulAl Alawi, Mansoor Jamal& Co.Reji PaulDr. Abdullah Alsaidi LawOfficeMadhu SathyaseelanJihad Al-Taie & AssociatesPeter SayerSaid Al Shahry Law OfficeCharles SchofieldTrowers & HamlinsPaul SheridanDenton Wilde SaptePaul SuddabyPricewaterhouseCoopersJeff ToddPricewaterhouseCoopersThomas WillanDenton Wilde SapteNorman WilliamsMajan EngineeringConsultantsSarah WrightDenton Wilde SaptePakistanSh. Farooq AbdullahAbraham & SarwanaAli Jafar AbidiState Bank of PaksitanWaheed AhmadChaudhary Law AssociatesMasood AhmedAbraham & SarwanaAmjad AliCotton LoopAroma Surgical Co.Shariq AzizOnline Shipping & LogisticsMajor Javed BashirGreenfields InternationalKashif ButtZeeshan EnterprisesBunker LogisticsIkram FayazQamar Abbas & Co.Tahseen GhaniHussain Home TextileKhalid HabibullahAbraham & SarwanaJaved HassanSojitz CorporationWaqar HussainAbraham & SarwanaHamid HussainCrown Movers WorldwideRashid IbrahimA.F. Ferguson & Co.Ali Adnan IbrahimGeorgetown UniversityLaw CenterAman Ullah IqbalCrown Trading CompanyTariq Nasim JanDatacheck Pvt. Ltd.Shaukat Ali KhanAlhabib Textile IndustriesArif KhanQamar Abbas & Co.Asim Khan HameedIvon Trading CompanyPvt. Ltd.Muhammad MakiAbraham & SarwanaMehmood Y. MandviwallaMandviwalla & ZafarRashid MehmoodYasir MehmoodAl Hafiz EnterprisesT. Ud-Din A. MirzaA.F. Ferguson & Co.Moazzam MughalBoxing WinnerMohammad Qasim QureshiAzam Chaudhry LawAssociatesShaheer Asghar QureshiSahil Freight PakistanPrivate LimitedFaiza RafiqueChaudhary Law AssociatesAdnan RafiqueParian InternationalAbdul RahmanQamar Abbas & Co.Waqar RanaCornelius Lane & MuftiAbid RaufARC InternationalMehdi RazaMoosa Textile Mills (Pvt)LtdSajjad RazaTransocean ShippingAgenciesAbdul RazzaqQamar Abbas & Co.Jawad A. SarwanaAbraham & SarwanaMohammad ShafiqueOnline Shipping & LogisticsGhulam Haider ShamsiHaider Shamsi & Co.,Chartered AccountantsMohammed ShoukatAircon LogisticInternationalZubair UmerTextile HomeIlyas ZafarZafar & Associates LLP.Pa l auKenneth BardenAttorney-at-LawCristina CastroWestern Caroline TradingCo.Lolita Gibbons-DechenyKoror Planning andZoning OfficeDavid ShadelThe Law Office of Kirk andShadelPanamaAlejandro AlemánAlfaro, Ferrer & RamírezAmanda C. Barraza de WongPricewaterhouseCoopersFrancisco A. Barrios G.PricewaterhouseCoopersCaroline BonoPricewaterhouseCoopersJose A. BozzoGarrido & GarridoJose Ignacio BravoCOCOLPLANLuis ChalhoubIcaza, Gonzalez-Ruiz &AlemanShanina J. ContrerasArosemena Noriega &Contreras, member of IusLaboris and Lex MundiJulio Cesar Contreras IIIArosemena Noriega &Contreras, member of IusLaboris and Lex MundiGuadalupe de CoparropaCEVA LogisticsRicardo Eskildsen MoralesEskildsen & EskildsenMichael FernandezCAPAC (Cámara Panameñade la Construcción)Alejandro Fernández deCastroPricewaterhouseCoopersEnna FerrerAlfaro, Ferrer & RamírezEinys K. FuentesPanamá SolucionesLogísticas Int. - PSLIJorge GarridoGarrido & GarridoJorge R. González ByrneArias, Alemán & MoraRicardo MadridPricewaterhouseCoopersAna Lucia MárquezArosemena Noriega &Contreras, member of IusLaboris and Lex MundiIvette Elisa Martínez SaenzPatton, Moreno & AsvatYadira I. MorenoAguilar Castillo LoveErick Rogelio MuñozSucre Arias & ReyesJosé Miguel NavarreteArosemena Noriega &Contreras, member of IusLaboris and Lex MundiRamón OrtegaPricewaterhouseCoopersAndrea PaniaguaPricewaterhouseCoopersSebastian PerezUnion Fenosa - EDEMET -EDECHIJulio PinedoPricewaterhouseCoopersAlfredo Ramírez Jr.Alfaro, Ferrer & RamírezManuel E. RodriguezUnion Fenosa - EDEMET -EDECHILuz María SalaminaAsociación Panameña deCréditoJuan TejadaPricewaterhouseCoopersValentín Ureña IIIArosemena Noriega &Contreras, member of IusLaboris and Lex MundiPatricia UrriolaPanalpinaRamón VarelaMorgan & MorganPapua NewGuineaTyson BoboroAllens Arthur RobinsonVincent BullAllens Arthur RobinsonDavid CaradusPricewaterhouseCoopersRichard FlynnBlake DawsonJustin HaiaraSteeles LawyersPeter Joseph HeystratenSea Horse PacificAntonia LakiPricewaterhouseCoopersDavid LaveryBlake DawsonJohn LeahyPeter Allan LowingLawyersSimon NutleyPeter Allan LowingLawyersSteven O’BrienO’BriensKapu RageauRageau, Manua & KikiraLawyersSteamships TradingCompany Ltd.Thomas TaberiaPeter Allan LowingLawyersParaguayPerla AldereteVouga & Olmedo AbogadosHugo T. BerkemeyerBerkemeyer, Attorneys &CounselorsLuis Alberto BreuerBerkemeyer, Attorneys &CounselorsEsteban BurtPeroni, Sosa, Tellechea,Burt & Narvaja, member ofLex MundiMaría DebattistiServimex SACILorena DolsaBerkemeyer, Attorneys &CounselorsBlas Dos SantosFerrere AttorneysEstefanía ElicetchePeroni, Sosa, Tellechea,Burt & Narvaja, member ofLex MundiJorge FigueredoVouga & Olmedo AbogadosNéstor GamarraServimex SACIIlse GonzalezIlse Gonzalez & AsocLarisa GuillénPricewaterhouseCoopersJorge Jimenez ReyBanco CentralNestor LoizagaFerrere AttorneysCarmela MartínezPricewaterhouseCoopersMaría Esmeralda MorenoMoreno Ruffinelli &AsociadosRoberto Moreno RodríguezAlcaláMoreno Ruffinelli &AsociadosHector PalazonFerrere AttorneysRocío PenayoMoreno Ruffinelli &AsociadosYolanda PereiraBerkemeyer, Attorneys &CounselorsArmindo RiquelmeFiorio, Cardozo &AlvaradoBelen Saldivar RomañachFerrere AttorneysAngela Schaerer de SosaEscribana PúblicaRuben TaboadaPricewaterhouseCoopersPeruWalter AguirrePricewaterhouseCoopers(c) The International Bank for Reconstruction and Development / The World Bank

182 Doing Business 2009Marco Antonio Alarcón PianaEstudio EchecoparHumberto AllemantPricewaterhouseCoopersGisella Alvarado CaychoEstudio EchecoparGuilhermo AulerForsyth & Arbe AbogadosRaul BarriosBarrios Fuentes GalloAbogadosGerman BarriosBarrios Fuentes GalloAbogadosVanessa BarzolaPricewaterhouseCoopersLegal ServicesMarianell BonominiPricewaterhouseCoopersLegal ServicesJosé Ignacio CastroEstudio Rubio, Leguía,Normand y AsociadosFernando Castro KahnMuñiz, Ramírez, Peréz-Taiman & Luna VictoriaAttorneys at LawJavier de la VegaPricewaterhouseCoopersAlfonso De Los Heros PérezAlbelaEstudio EchecoparMariana De OlazavalEstudio Olaechea, memberof Lex MundiPaula DevescoviBarrios Fuentes GalloAbogadosJuan Carlos DurandGrahammerDurand AbogadosArturo FerrariMuñiz, Ramírez, Peréz-Taiman & Luna VictoriaAttorneys at LawGuillermo FerreroEstudio Ferrero AbogadosLuís FuentesBarrios Fuentes GalloAbogadosJuan García MontúfarEstudio Rubio, Leguía,Normand y AsociadosAnabelí GonzálezEstudio Ferrero AbogadosCecilia Guzman-BarronBarrios Fuentes GalloAbogadosJose A. HondaEstudio Olaechea, memberof Lex MundiRafael JuncoCamara Peruana de laConstruccionKuno Kafka PradoEstudio Rubio, Leguía,Normand y AsociadosAdolfo LopezPricewaterhouseCoopersGerman LoraPayet, Rey, Cauvi AbogadosRaul Lozano-MerinoPeña, Lozano, Faura &AsociadosMilagros MaraviEstudio Rubio, Leguía,Normand y AsociadosJesús MatosEstudio Olaechea, memberof Lex MundiMilagros MendozaEstudio Rubio, Leguía,Normand y AsociadosAnna Julia MendozaPayet, Rey, Cauvi AbogadosMarlene MoleroEstudio Rubio, Leguía,Normand y AsociadosMiguel MurPricewaterhouseCoopersFranco MuschiPayet, Rey, Cauvi AbogadosGabriel MussoEstudio Rubio, Leguía,Normand y AsociadosCarmen PadrónEstudio Rubio, Leguía,Normand y AsociadosAdolfo J. PinillosDurand AbogadosLucianna PolarEstudio Olaechea, memberof Lex MundiCarlos Javier Rabanal SobrinoDurand AbogadosFernando M. RamosBarrios Fuentes GalloAbogadosSonia L. RengifoBarrios Fuentes GalloAbogadosAlonso Rey BustamantePayet, Rey, Cauvi AbogadosGuillermo Acuña RoederEstudio Rubio, Leguía,Normand y AsociadosAugusto Ruiloba MoranteEstudio EchecoparEmil Ruppert YañezEstudio Rubio, Leguía,Normand y AsociadosCarolina SáenzEstudio Rubio, Leguía,Normand y AsociadosAdolfo Sanabria MercadoMuñiz, Ramírez, Peréz-Taiman & Luna VictoriaAttorneys at LawDiego SanchezPricewaterhouseCoopersMartin SerkovicEstudio Olaechea, memberof Lex MundiHugo SilvaRodrigo, Elías, MedranoAbogadosJosé Antonio ValdezEstudio Olaechea, memberof Lex MundiValery VicenteForsyth & Arbe AbogadosManuel Villa-GarcíaEstudio Olaechea, memberof Lex MundiUrsula VillanuevaEstudio Rubio, Leguía,Normand y AsociadosMonica Yoland ArteagaChaparroRegistro Predial UrbanoPhilippinesEmilio AmarantoPuyat Jacinto Santos LawOfficeMyla Gloria AmboyJimenez Gonzales LiwanagBello Valdez Caluya &FernandezJazmin BanalRomulo, Mabanta,Buenaventura, Sayoc & delos Angeles, member of LexMundiManuel BatallonesBAP Credit BureauAlexander B. CabreraPricewaterhouseCoopers /Isla Lipana & Co.Rusvie CadizRVFreight and ServicesJoseph Omar A. CastilloPuyat Jacinto Santos LawOfficeKenneth ChuaQuisumbing Torres,member firm of Baker andMcKenzieEmerico O. de GuzmanAngara Abello ConcepcionRegala & Cruz Law Offices(ACCRALAW)Juana M. Dela CruzInternationalConsolidator Philippines,Inc.Rachelle DiazQuisumbing Torres,member firm of Baker andMcKenzieMa. Lourdes DinoJimenez Gonzales LiwanagBello Valdez Caluya &FernandezRachel FolloscoFollosco Morallos &HerceCatherine FrancoQuisumbing Torres,member firm of Baker andMcKenzieGilberto GallosAngara Abello ConcepcionRegala & Cruz Law Offices(ACCRALAW)Geraldine S. GarciaFollosco Morallos &HerceGwen Grecia-de VeraPJS LawRafael KhanSiguion Reyna Montecillo& OngsiakoGenevieve M. LimboPricewaterhouseCoopers /Isla Lipana & Co.Victoria LimkicoJimenez Gonzales LiwanagBello Valdez Caluya &FernandezErich H. LingadInternationalConsolidator Philippines,Inc.Herminio LiwanagJimenez Gonzales LiwanagBello Valdez Caluya &FernandezLory Anne Manuel-McMullinJimenez Gonzales LiwanagBello Valdez Caluya &FernandezYolanda Mendoza-EleazarCastillo Laman TanPantaleon & San Jose LawOfficesElmer R. Mitra, JrPricewaterhouseCoopers /Isla Lipana & Co.Jesusito G. MorallosFollosco Morallos &HerceFreddie NaagasOOCL LogisticsAlan OrtizFollosco Morallos &HerceNicanor N. PadillaSiguion Reyna Montecillo& OngsiakoEmmanuel C. ParasSyCip Salazar Hernandez &GatmaitanZayber B. ProtacioPricewaterhouseCoopers /Isla Lipana & Co.Janice Kae RamirezQuasha Ancheta Pena &NolascoRoderick ReyesJimenez Gonzales LiwanagBello Valdez Caluya &FernandezRicardo J. RomuloRomulo, Mabanta,Buenaventura, Sayoc andde los Angeles, member ofLex MundiRoy Enrico SantosPuyat Jacinto Santos LawOfficeSheryl TanquilutRomulo, Mabanta,Buenaventura, Sayoc & delos Angeles, member of LexMundiBianca TorresPJS LawMa. Melva ValdezJimenez Gonzales LiwanagBello Valdez Caluya &FernandezRedentor C. ZapataQuasha Ancheta Pena &NolascoGil Roberto ZerrudoQuisumbing Torres,member firm of Baker andMcKenziePolandAllen & Overy A. PędzichSp.k.Grzegorz BanasiukjGide Loyrette NouelPolskaAleksander BorowiczBiuro InformacjiKredytowej S.A.Tomasz BrudkowskiKochański, Brudkowski &PartnersKrzysztof CichockiSKS LegalKrzysztof CieplińskiGide Loyrette NouelPolskaBożena CiosekWierzbowski Eversheds,member of EvershedsInternational Ltd.Tomasz DuchniakSKS LegalLech GilicińskiWhite & Case W.Daniłowicz, W. Jurcewicz iWspólnicy sp. k.Paweł GrześkowiakGide Loyrette NouelPolskaFidala JaroslawTokarczuk, Jędrzejczyk,Wspólnicy. Kancelariaprawna Gide LoyretteNouel PolskaPiotr KaimPricewaterhouseCoopersTomasz KańskiSołtysiński Kawecki &SzlęzakIwona KarasekJagiellonian UniversityKrakowEdyta KolkowskaEwa Lachowska - BrolWierzbowski Eversheds,member of EvershedsInternational Ltd.Dagmara Lipka-ChudzikMagnussonAgata MierzwaWierzbowski Eversheds,member of EvershedsInternational Ltd.Dariusz OkolskiOkolski Law OfficeKrzysztof PawlakSołtysiński Kawecki &SzlęzakWeronika PelcWardyński & Partners,member of Lex MundiAnna Maria PuksztoSalansBartłomiej RaczkowskiBartłomiej RaczkowskiKancelaria Prawa PracyPiotr SadownikGide Loyrette NouelPolskaKatarzyna SarekBartłomiej RaczkowskiKancelaria Prawa PracyZbigniew SkórczyńskiChadbourne & Parke LLPDariusz SmiechowskiUnion of Polish ArchitectsIwona SmithPricewaterhouseCoopersEwelina StobieckaEiselsberg NatlacenWalderdorff CancolaRechtsanwälte GmbH(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 183Dariusz TokarczukGide Loyrette NouelPolskaWojciech WądołowskMagnussonRadoslaw WaszkiewiczSołtysiński Kawecki &SzlęzakEwa WiśniewskaTomasz ZabostPortugalVictor AbrantesVictor Abrantes -International Sales AgentFilipa Arantes PedrosoMorais Leitão, GalvãoTeles, Soares da Silva &Associados, Member of LexMundiMiguel AzevedoGarriguesManuel P. BarrocasBarrocas Sarmento NevesJosé Pedro Briosa e GalaBarrocas Sarmento NevesRita CarvalhoPricewaterhouseCoopersTiago Castanheira MarquesAbreu AdvogadosSusana CebolaDirectorate General ofRegistry & Notary CivilServiceGabriel CordeiroDirecção Municipal deGestão UrbanísticaJoão Cadete de MatosBanco de PortugalCarlos de Sousa e BritoCarlos de Sousa & Brito &AssociadosCristina DeinDein AdvogadosJohn DugganPricewaterhouseCoopersBruno FerreiraGarriguesJorge FigueiredoPricewaterhouseCoopersInga KilikevicieneMartim KrupenskiBarrocas Sarmento NevesMaria Manuel Leitão MarquesSecretary of Statefor AdministrativeModernisationDiogo Léonidas RochaGarriguesJorge Pedro LopesPolytechnic Institute ofBragançaMarta Elisa MachadoPricewaterhouseCoopersAna Margarida MaiaMiranda CorreiaAmendoeira & AssociadosMiguel Marques dos SantosGarriguesFilipa Marques JuniorMorais Leitão, GalvãoTeles, Soares da Silva &Associados, Member of LexMundiIsabel Martínez de SalasGarriguesSusana MeloGrant ThorntonConsultores, LdaJoaquim Luis MendesGrant ThorntonConsultores, Lda.João MoucheiraDirectorate General ofRegistry & Notary CivilServiceMouteira Guerreiro, RosaAmaral & Associados -Sociedade de AdvogadosR.L.Rita Nogueira NetoGarriguesFelipe OlivieraCarlos de Sousa & Brito &AssociadosRui Peixoto DuarteAbreu AdvogadosPedro Pereira CoutinhoGarriguesAcácio Pita NegrãoPLEN - Sociedade deAdvogados, RLMargarida RamalhoAssociação de Empresasde Construção e ObrasPúblicasPaulo RibeiroQuinta do FigueiralFilomena RosaDirectorate General ofRegistry & Notary CivilServiceDavid Salgado AreiasAbreu AdvogadosPedro SantosAndromedaPedro SantosGrant ThorntonConsultores, LdaRaquel SantosMorais Leitão, GalvãoTeles, Soares da Silva &Associados, Member of LexMundiManuel Silveira BotelhoAntónio Frutuoso de Meloe Associados - Sociedade deAdvogados, R.L.Carmo Sousa MachadoAbreu AdvogadosJoão Paulo Teixeira de MatosGarriguesPuerto RicoViviana AguiluPricewaterhouseCoopersIsrael AliceaQuiñones & Sánchez, PSCIgnacio AlvarezPietrantoni Méndez &Alvarez LLPAlfredo Alvarez-IbañezO’Neill & BorgesJuan AquinoO’Neill & BorgesJavier ArbonaQuiñones & Sánchez, PSCJames A. ArroyoTransUnionHermann BauerO’Neill & BorgesNikos Buxeda FerrerAdsuar Muñiz Goyco Seda& Pérez-Ochoa, P.S.CMildred CabanGoldman Antonetti &Córdova P.S.CJorge CapoO’Neill & BorgesWalter F. ChowO’Neill & BorgesMyrtelena Díaz PedoraAdsuar Muñiz Goyco Seda& Pérez-Ochoa, P.S.CAlberto G. EstrellaWilliam Estrella LawOfficesCarla GarciaO’Neill & BorgesCarlos HernandezReichard & EscaleraGerardo HernandezWilliam Estrella LawOfficesFrancisco Hernández-RuizReichard & EscaleraDonald E. HullPietrantoni Méndez &Alvarez LLPLuis MariniO’Neill & BorgesRubén M. Medina-LugoCancio, Nadal, Rivera &DíazOscar O Meléndez - SauriCoto Malley & Tamargo,LLPPedro A. MorellGoldman Antonetti &Córdova P.S.CCarlos NievesQuiñones & Sánchez, PSCJoaquin M NievesSun Air Expedite ServiceJorge PeiratsPietrantoni Méndez &Alvarez LLPEdwin QuiñonesQuiñones & Sánchez, PSCVictor RodriguezMultitransport & MarineCo.Victor RodriguezPricewaterhouseCoopersJorge M. Ruiz MontillaMcConnell Valdés LLCJavier SánchezIneabelle SantiagoReichard & EscaleraYasmin Umpierre-ChaarO’Neill & BorgesCarlos ValldejulyO’Neill & BorgesFernando Van DerdysReichard & EscaleraTravis WheatleyO’Neill & BorgesQatarNaveed AbdullaGulf Star GroupShawki Abu NadaCentral TendersCommitteeAbdelmoniem AbutiffaQatar International LawFirmAli Al AmariCentral BankKholoud Al FaihaniMaitha Al HajriMohammed Saleh Al JilaniCentral BankHassan Abdulla Al KhouriAbdullah Al MuslemaniLegal AdvisorNada Mubarak Al SulaitiAl Sulaiti, Attorneys,Legal Consultants &ArbitratorsMohammed A. AliAl Khorri Advocate &Legal ConsultantsAdnan AliPricewaterhouseCoopersAbdul Rahman Ali AlmotawaCustoms and PortsGeneral AuthorityA. Rahman MohamedAl-JufairiA. Rahman MohamedAl-JufairiJuma Ali Rashed Al-KaabiMinistry of Economy &CommerceRashid Bin Abdulla Al-KhalifaLaw Office of Rashid BinAbdulla AI-KhalifaKhalil Al-MullaCustoms and PortsGeneral AuthorityMuna Al-MutawaAdvocate & LegalConsultantMohammed H. Al-NaimiCentral TendersCommitteeAhmad Al-RemehiReal Estate RegistrationDepartmentAhmed MohammedAl-RmehyMinistry of JusticeWalid A. Moneim AmenLabour DepartmentIan ClayPricewaterhouseCoopersDalal K. FarhatArab Engineering BureauSteuart Anthony GreigBin Yousef Cargo ExpressW.L.LRobert A. HagerPatton Boggs LLPTajeldin Idris BabikerABN Law FirmSamar A. IsmailKhatib & AlamiIbrahim JaidahArab Engineering BureauAbdul JaleelLex Chambers.Milan JoshiBin Yousef Cargo ExpressW.L.LUpuli KasthuriarachchiPricewaterhouseCoopersSajid KhanPricewaterhouseCoopersAli KudahCustoms and PortsGeneral AuthorityAhmed Sayed Rekaby MansyLaw Office of Rashid BinAbdulla AI-KhalifaAbdul MuttalibGulf Star GroupNajwan NayefClyde & Co.LegalConsultantsAli Said OthmanCentral TendersCommitteeMohammed SHK. QasemKhatib & AlamlAnnette SeiffertClyde & Co. LegalConsultantsSarah SimmsClyde & Co. LegalConsultantsLaura WarrenClyde & Co. LegalConsultantsTerence G.C. WitzmannHSBCRomaniaAdriana AlmasanStoica & AsociatiiAttorneys-at-LawAlina BadeaMuşat & AsociaţiiEmanuel BancilaPricewaterhouseCoopersIrina BănicăMuşat & AsociaţiiIrina BarbuD & B David si Baias S.C.A.Cristian BichiNational BankMonica BiciuscaAnghel Stabb & PartnersRoxana BoleaD & B David si Baias S.C.A.Cosmin BoneaSalansCezara ChiricaD & B David si Baias S.C.A.Anamaria CorbescuSalansDorín CozaBabiuc SulicaProtopopescu VonicaTiberiu CsakiSalansPeter De RuiterPricewaterhouseCoopersLuminita DimaNestor Nestor DiculescuKingston Petersen, member(c) The International Bank for Reconstruction and Development / The World Bank

184 Doing Business 2009of Ius Laboris, of LexMundi & of SEE LegalAlexandru DobrescuLina & Guia S.C.AIon DragulinNational BankLaura Adina DucaNestor Nestor DiculescuKingston Petersen, memberof Ius Laboris, of LexMundi & of SEE LegalCristina EnePricewaterhouseCoopersSerban EpureBiroul de CreditAdriana GasparNestor Nestor DiculescuKingston Petersen, memberof Ius Laboris, of LexMundi & of SEE LegalGina GheorgheTanasescu, Leaua, Cadar &AsociatiiSergiu GideiD & B David si Baias S.C.A.Alexandru GosaD & B David si Baias S.C.A.Veronica GruzsniczkiBabiuc SulicaProtopopescu VonicaMihai GuiaLina & Guia S.C.ANicolae HariucZamfirescu Racoţi PredoiuLaw PartnershipHidropneumaticaRoxana IonescuNestor Nestor DiculescuKingston Petersen, memberof Ius Laboris, of LexMundi & of SEE LegalIulian IosifMuşat & AsociaţiiCrenguta LeauaTanasescu, Leaua, Cadar &AsociatiiCristian LinaLina & Guia S.C.ADumitru Viorel ManescuNational Union ofRomanian NotariesAlina ManescuPricewaterhouseCoopersOana ManuceanuPricewaterhouseCoopersGelu Titus MaravelaMuşat & AsociaţiiCarmen MedarD & B David si Baias S.C.ARaluca MocanuPricewaterhouseCoopersDominic MoregaMuşat & AsociaţiiAdriana NeagoeNational BankManuela Marina NestorNestor Nestor DiculescuKingston Petersen, memberof Ius Laboris, of LexMundi & of SEE LegalMadalin NiculeasaNestor Nestor DiculescuKingston Petersen, memberof Ius Laboris, of LexMundi & of SEE LegalLavinia NucuAnghel Stabb & PartnersAlina OanceaPricewaterhouseCoopersMarius PătrăşcanuMuşat & AsociaţiiCristina PopescuLina & Guia S.C.AAlina PopescuMuşat & AsociaţiiMariana PopescuNational BankDiana Emanuela PrecupNestor Nestor DiculescuKingston Petersen, memberof Ius Laboris, of LexMundi & of SEE LegalIrina PreoteasaPricewaterhouseCoopersAlina ProteasaLina & Guia S.C.AAdriana PuscasBabiuc SulicaProtopopescu VonicaRaluca RaduSalansLaura RaduStoica & AsociatiiAttorneys-at-LawAlina RafailaPricewaterhouseCoopersAngela RoscaTaxhouse SRLAlex RoscaTaxhouse SRLAna-Maria RusuSalansRomana SchusterPricewaterhouseCoopersCristina SimionPricewaterhouseCoopersAlexandru SlujitoruD & B David si Baias S.C.A.Alexandra SovaSova & PartnersIleana SovailaMuşat & AsociaţiiDavid StabbAnghel Stabb & PartnersMarta StefanAnghel Stabb & PartnersCristiana StoicaStoica & AsociatiiAttorneys-at-LawSorin Corneliu StratulaStratula TomosoiuMocanuPotyesz TiberuBitrans Ltd., member ofWorld Mediatrans GroupAnca VatasoiuSalansMihai VintuPricewaterhouseCoopersRussianFederationMarat AgabalyanHerbert Smith CIS LLPDarya AngeloLaw Firm ALRUDEkaterina AvilovaPricewaterhouseCoopersLegal ServicesFedor BogatyrevLaw Firm ALRUDAlexia BorisovAndreas Neocleous & Co.,Legal ConsultantsJulia BorozdnaBaker & McKenzieMaria BykovskayaGide Loyrette Nouel,member of Lex MundiESPRO Real EstateValery GetmanenkoBaker & McKenzieMaria GorbanGide Loyrette Nouel,member of Lex MundiEvgeniy GoukPricewaterhouseCoopersCIS Law Offices B.V.Marlena HurleyTransUnion CRIF DecisionSolutionIrina ImPricewaterhouseCoopersSergej JuzovitskiRambollMaxim KandybaPricewaterhouseCoopersCIS Law Offices B.V.Ekaterina KotovaPricewaterhouseCoopersCIS Law Offices B.V.Dmitry KurochkinHerbert Smith CIS LLPSergei L. LazarevRussin & Vecchi, LLC.Maxim LikholetovMagnussonDmitry LyakhovRussin & Vecchi, LLC.Anastasia MalashkevichPricewaterhouseCoopersIrina MartakovaPricewaterhouseCoopersVladimir MelnikovHerbert Smith CIS LLPLyudmila MerzlikinaALRUD Law FirmYuri MonastyrskyMonastyrsky, Zyuba,Stepanov & PartnersOAO PigmentGennady OdarichPricewaterhouseCoopersLegal ServicesTatiana PonomarevaIgor PorokhinMagnussonMaria PriezzhevaOrrick Herrington &Sutcliffe LLPRoman ReshetyukPricewaterhouseCoopersLegal ServicesEvgeny ReyzmanBaker & McKenzieKonstantin SalichevAndrey ShpakPricewaterhouseCoopersOlga SirodoevaOrrick Herrington &Sutcliffe LLPSteven SnaithPricewaterhouseCoopersPavel SolovyevMagnussonIrina StrizhakovaAndreas Neocleous & Co.,Legal ConsultantsElena SubochevaRussin & Vecchi, LLCMikhail UsubyanOrrick, Herrington &Sutcliffe LLPAndrey ZhdanovBaker & McKenzieRwandaBanque Commerciale duRwandaEmmanuel AbijuruUniversité Libre de KigaliAlberto BasomingeraCabinet d’AvocatsMhayimanaPierre Célestin BumbakareRwanda RevenueAuthorityJosé HabimanaUmwlimu SaccoJean HavugimanaRwanda RevenueAuthoritySuzanne IyakaremyeSDVProject KaburegeCabinet d’Avocat KaburegeAnnie Kairaba-KyambaddeRwanda Initiative forSustainable Development /LandNetMarcellin KamanziRobert KamugishaMinistry of JusticeAngélique KantengwaNational BankTheophile KazanezaKigali Bar AssociationRodolphe KembukuswaSDVNarasimha KollegalWorld Freight s.a.r.l.Isaïe MhayimanaCabinet d’AvocatsMhayimanaMinette MutoniBarreau de KigaliPothin MuvaraDavid NgaracuWorld Freight s.a.r.l.Athanase RutabingwaKigali Allied AdvocatesVincent ShyirambereOffice of the Registrar ofLand TitlesAndré VerbruggenSamoaTiffany ActonQuantum Contrax LtdMike BethamTransam Ltd.Lawrie BurichQuantum Contrax LtdMurray DrakeDrake & Co.Ruby DrakeDrake & Co.George LatuLatu Ey & Clarke LawyersArthur R. PennLesa ma PennJohn RyanTransam Ltd.Shan Shiraz Ali UsmanTradepac Marketing Ltd.São Tomé andPrincipeAntónio de Barros A. AguiarSOCOGESTAAndré Aureliano AragãoAndré Aureliano AragãoJurisconsulta & AdvogadoFernando BarrosPricewaterhouseCoopersJorge BonfimDirecção do ComércioPedro CalixtoPricewaterhouseCoopersEdmar CarvalhoMiranda CorreiaAmendoeira & AsociadosAbreu ConceiçãoSoares Da CostaJoão CristovãoBanco Internacional deSão Tomé e PríncipeFrederico da GlóriaTribunal de PrimeiraInstância de São ToméPascoal DaioPascoal Daio - Advogado &ConsultoreAbílio de Carvalho DemaCabinet Africain deGestion Informatique etContableCeliza Deus LimaJPALMS AdvogadosDirecção das AlfândegasAgostinho Q.S.A. FernandesDirectorate of TaxesCesaltino FernandesServiços Geograficos eCadastraisRaul GomesATS Logistics Co.Metalurgica Santo AmaroJean-Paul MiganEcobankFaustino Manuel NetoEMAEEduardo PaivaPricewaterhouseCoopers(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 185Luisélio PintoUnited InvestmentsGuilherme Posser da CostaDe Juris - Advocacia eConsultoria, Lda.Cosme Bonfim Afonso RitaCâmara de Comércio,Agricultura e ServiçosDeodato Gomes RodriguesENAPORTMaria do Céu SilveiraDirecção de ObrasPúblicas e UrbanismoCarlos StockDirecção dos Registros eNotariadoSara Ranito TrigueirosBanco Internacional deSão Tomé e PríncipeRui VeríssimoSoares Da CostaSaudi ArabiaEmad Fareed Abdul JawadGlobe Marine Services Co.Abdulaziz AbdullatifAl-Soaib Law FirmAli AbediThe Allaince of AbbasF. Ghazzawi & Co. andHammad, Al-Mehdar & Co.Nasreldin AhmedThe Law Firm of SalahAl-HejailanyOmar Al SaabMohanned Bin saudi AlRasheed Law Firm inAssociation with BakerBotts L.L.PNasser AlfarajBaker & McKenzie Ltd.Mohammed Al-GhamdiFulbright & Jaworski LLPHesham Al-HomoudThe Law Firm of Dr.Hesham Al-HomoudMohammed Al-JaddanThe Law Firm of Yousefand Mohammed Al-JaddanNabil Abdullah Al-MubarakSaudi Credit Bureau -SIMAHFayez Al-NemerTalal Bin Naif Al-HarbiLaw FirmSami Al-SarrajAl Juraid & Company /PricewaterhouseCoopersMohammed Al-SoaibAl-Soaib Law FirmAli AwaisBaker Botts LLPJoseph CastelluccioFulbright & Jaworski LLPMaher El BelbeisiAbu-Ghazaleh Legal officeAdel El SaidPanalpinaAdel ElZeinMohamed Ben Laden LawFirmImad El-Dine GhaziLaw Office of HassanMahassniShadi HaroonBaker Botts LLPJochen HundtAl-Soaib Law FirmDavid K. JohnsonAl Juraid & Company /PricewaterhouseCoopersMarcus LattaThe Law Firm of SalahAl-HejailanyMuhammad LotfiToban Law FirmHassan MahassniLaw Office of HassanMahassniMuntasir OsmanLaw Office of HassanMahassniK. Joseph RajanGlobe Marine Services Co.Mustafa SalehTurner InternationalAbdul ShakoorGlobe Marine Services Co.Sameh M. TobanToban Law FirmNatasha ZahidBaker Botts LLPAbdul Aziz ZaibagAlzaibag ConsultantsSoudki ZawaydehAl Juraid & Company /PricewaterhouseCoopersEbaish ZebarThe Law Firm of SalahAl-HejailanySenegalIbrahima AbdoulayeSenelecKhaled Abou El HoudaCabinet Kanjo KoitaCabinet Sarr & Associés,member of Lex MundiMagatte DaboTransfret DakarJonathan DarbouxBCEAOFallou DiéyeAPIX -Agence chargéede la Promotion del’Investissement et desGrands TravauxIssa DioneSenelecPatricia Lake DiopFodé DiopArt Ingegierie AfriqueFatimatou Zahra DiopBCEAOAmadou DrameCabinet d’AvocatCheikh FallCabinet d’AvocatAïssatou FallFIDAFRICA /PricewaterhouseCoopersMame Adama GueyeMame Adama Gueye &AssociesKhaled A. HoudaAvocat à la CourMatthias HubertFIDAFRICA /PricewaterhouseCoopersOumy Kalsoum GayeChambre de Commerced'Industrie etd'Agriculture de DakarSeydina KaneSenelecSidy KanouteAvocat à la CourMoussa MbackeEtude notariale MoussaMbackeMamadou MbayeSCP Mame Adama Gueye &AssociésIbrahima MbodjAvocat à la CourPierre MichauxFIDAFRICA /PricewaterhouseCoopersPape Oumar NdiayeAvocat à la CourCheikh Tidiane NdiayeSecomMoustapha NdoyeCabinet d’AvocatsCheikh Oumar SallMbacké SeneSenelecDaniel-Sedar SenghorNotaireSDVDjibril SySecomDominique TatyFIDAFRICA /PricewaterhouseCoopersIbra ThiombaneSCP Mame Adama Gueye &AssociésMoustapha ThiouneSociete Generale deBanques au SenegalAdama TraoreSCP Mame Adama Gueye &AssociésBaba TraoreTransfretSerbiaRade BačkovićAssociation of SerbianBanksRene BijvoetPricewaterhouseCoopersBojana BogojevićPricewaterhouseCoopersMarija BojovićPricewaterhouseCooperNataša CvetićaninLaw Offices Janković,Popović & MitićAleksandar DimitrovPrica & Partners LawOfficeJelena DjokićPricewaterhouseCoopersUroš DjordjevićZivkovic & Samardzic LawOfficeJelena EdelmanPrica & Partners LawOfficeOlga Serb GretićNinković Law OfficeOliver HaussmannMoravčevic, Vojnović& Zdravković o.a.d. usaradnji sa SchönherrHarrison SolicitorsJovana IlićPricewaterhouseCoopersAnna JankovPricewaterhouseCoopersNikola JankovićLaw Offices Janković,Popović & MitićMartina JovićPricewaterhouseCoopersMirko KevacPricewaterhouseCoopersDubravka KosićLaw Office KosicMarija KostićLaw Offices Janković,Popović & MitićIvan KrsikapaNinković Law OfficeAleksandar MančevPrica & Partners LawOfficeAleksandar MiljkovićPricewaterhouseCoopersDimitrije NikolićCargo T. WeissDjurdje NinkovićNinković Law OfficeDarija OgnjenovićPrica & Partners LawOfficeIgor OljačićLaw Office KosicVladimir PerićPrica & Partners LawOfficeSnežana PešićPricewaterhouseCoopersMihajlo PricaPrica & Partners LawOfficeMarko RepićLaw Office KosicVladimir SavićCPI InvestementNenad StankovićJoksovic, Stojanovic andPartnersAna StankovićMoravčevic, Vojnović& Zdravković o.a.d. usaradnji sa SchönherrPetar StojanovićJoksovic, Stojanovic andPartnersJovana StojanovićPricewaterhouseCoopersZoran TeodosijevićLaw Offices Janković,Popović & MitićJovana TomaševićŽivković & Samardžić LawOfficeClare VernonPricewaterhouseCoopersMiloš VulićPrica & Partners LawOfficeRelja ZdravkovićMoravčevic, Vojnović& Zdravković o.a.d. usaradnji sa SchönherrBranislav ŽivkovićZivkovic & Samardzic LawOfficeMiloš ŽivkovićŽivković & Samardžić LawofficeSeychellesGerry AdamMahe Shipping Co. Ltd.Jules G. BakerPorts AuthorityFrance Gonzalves BonteAndre D. CiseauSeychelles PortsAuthorityAlex EllenbergerLocus Architecture Pty.Ltd.Daniel HouareauPorts AuthorityJoe MorinMahe Shipping Co. Ltd.Bernard L. PoolPool & PatelRoddy RamanjoolooHoolooman ProjectServicesUnice RomainPorts AuthoritySerge RouillonAttorney-at-LawSierra LeoneKelvin AbdallahPricewaterhouseCoopersGideon Ayi-OwooPricewaterhouseCoopersMohamed Sahid BanguraMacauley, Bangura & Co.H.A. BloomerPorts AuthorityA.Y BrewahBrewah & Co.Nicholas Colin Browne-MarkeCourt of AppealsCharles CampbellCharles Campbell & Co.John CarterKPMGLeslie Theophilus ClarksonAhmry ServicesNeneh DaboAnti-CorruptionCommissionVidal DeckerKPMGMariama DumbuyaRenner Thomas & Co.,Adele ChambersDzidzedze FiadjoePricewaterhouseCoopers(c) The International Bank for Reconstruction and Development / The World Bank

186 Doing Business 2009Cecil FrenchNational Power AuthorityDenis John Scott GarvieNational Power AuthorityEke Ahmed HallowayHalloway & PartnersMillicent Hamilton-HazeleyClas LegalMichael A.O. JohnsonMinistry of Lands,Country Planning and theEnvironmentMariama KallayGovernment of SierraLeoneAlex KonoimaMinistry of Lands,Country Planning and theEnvironmentGeorge KwatiaPricewaterhouseCoopersCentus Macauley Esq.Macauley, Bangura & Co.Joseph Daniel MahayeiMinistry of Energy &PowerSullay A. MannahBank of Sierra LeoneNoah MansarayPorts AuthorityCorneleius Adeyemi Max-Williams IShipping Agencies Ltd.A.P. Moller-MaerskMaersk Ltd.Augustine Musa, Esq.Brewah & Co.Oliver OnylanderAdele ChambersEduard ParkinsonNational Power AuthorityPrashatn PoduvalMaersk Ltd.Roger RogersInternationalConstruction Co. Ltd.Susan SisaySisay & AssociateLornard TaylorMacauley, Bangura & Co.Alhaji TimboNational Power AuthorityMohamed Ahmad TunisAhmry ServicesAyodele Wak-WilliamsDel-Wak AgenciesDarcy WhitePricewaterhouseCoopersClaudius Williams-TuckerKPMGAmy WrightEcoBank Sierra Leone Ltd.Rowland WrightWright & Co.Alfred YartehNational Power AuthoritySingaporeKala AnandarajahRajah & TannHui Jia AngPricewaterhouseCoopersHooi Yen ChinGateway Law CorporationPaerin ChoaTSMP Law CorporationKit Min ChyeTan Peng Chin LLCTroy DoyleClifford Chance WongCyril DumonSDV InternationalLogisticsPaula EastwoodPricewaterhouseCoopersChi Duan GooiDonaldson & BurkinshawMuhammad HattarRodyk & Davidson LLPOng Hway ChengRajah & TannNanda KumarRajah & TannLee Lay SeeRajah & TannAirinn LohSchenker Pte. Ltd.Ministry of Trade andIndustrySheikh Babu NooruddinAl Noor InternationalPte. Ltd.Beng Hong OngWong Tan & Molly Lim LLCQBB (Pte) Ltd.See Tiat QuekPricewaterhouseCoopersMark RowleyCredit Bureau Pte Ltd.Andrew SeahSchenker Pte. Ltd.Priya SelvamRajah & TannLee Chuan SengBeca Carter Holdings &Ferner Pte Ltd.Nish ShettyWongPartnership LLPShook Lin & Bok LLP (Injoint venture with Allen& Overy LLP)May Yee TanWong Tan & Molly Lim LLCWinston TayCustomsSiu Ing TengSingapore Land AuthorityLiew Yik WeeWongPartnership LLPLim Wee TeckRajah & TannEddie WongCity Developments Ltd.Paul WongRodyk & Davidson LLPValerie WuDonaldson & BurkinshawStephanie Yuen ThioTSMP Law CorporationSlovakiaZuzana AmrichovaPricewaterhouseCoopers.Martina BehuliakováGeodesy, Cartography andCadastre Authority of theSlovak RepublicVladimir BelesPricewaterhouseCoopersRadmila BenkovaPricewaterhouseCoopersTodd BradshawPricewaterhouseCoopersJán BudinskýSlovak Credit Bureau, s.r.o.Kristina CermakovaPeterka & PartnersElena ChorvátováPeterka & PartnersZuzana Dragúnová-ValerováPricewaterhouseCoopersViera GregorovaPeterka & PartnersSimona HalakovaČechová & Partners,member of Lex MundiAndrea JezerskaČechová & Partners,member of Lex MundiTomas JuchaPricewaterhouseCoopersMichaela JurkováČechová & Partners,member of Lex MundiSoňa LehockáAlianciaadvokátov ak,s.r.o.Katarina LeitmannováGeodesy, Cartography andCadastre AuthorityMarek LovasPricewaterhouseCoopersMichal LuknárSquire Sanders s.r.o.Přemysl MarekPeterka & PartnersTomáš MarettaČechová & Partners,member of Lex MundiViktor MišíkDedák & PartnersPanalpina WelttransportGmbHZora PuškáčováZukalová Counselors-at-LawPeter RozboraČechová & Partners,member of Lex MundiGerta Sámelová-FlassikováAlianciaadvokátov ak,s.r.o.Peter VargaProcházka Randl Kubr,member of Ius Laboris &Lex MundiClare MogerPricewaterhouseCoopersZuzana WallovaNational BankMichal ZemanČechová & Partners,member of Lex MundiDagmar ZukalováZukalová Counselors-at-LawSloveniaAna BerceOdvetniki Šelih &PartnerjiCrtomir BorecPricewaterhouseCoopersBranko BoznikEFT TransportagenturGmbHNataša BožovićBank of SloveniaEva BudjaLaw Office Jadek & Pensad.o.o.Nada DrobnicDeloitte d.o.oAleksander FerkPricewaterhouseCoopersAna FilipovSchönherr RechtsanwälteGmbH / Attorneys-at-LawMasa Grgurevic AlcinThe Supreme CourtBarbara GuzinaDeloitte d.o.oAndrej JarkovičJanežič & JarkovičAttorneys-at-Law & PatentAttorneysAleksandra JemcLaw Office Jadek & Pensad.o.o.Jernej JerajSchönherr RechtsanwälteGmbH / Attorneys-at-LawJanos KelemenPricewaterhouseCoopersDanijel KerševanPanalpina WelttransportGmbHBarbara KozaricDeloitte d.o.o.Bozena LipejSurveying & MappingAuthorityKlemen MirPricewaterhouseCoopersMatjaz NahtigalOdvetniki Šelih &PartnerjiSonja OmerzaPricewaterhouseCoopersPavle PensaLaw Office Jadek & Pensad.o.o.Tomaž PetrovičSchönherr RechtsanwälteGmbH / Attorneys-at-LawNatasa Pipan NahtigalOdvetniki Šelih &PartnerjiPetra PlevnikAttorneys at Law MiroSenica in OdvetnikiElektro Ljubljana d.d.Anka PogačnikPricewaterhouseCoopersTamara ŠerdonerPricewaterhouseCoopersAndreja Škofič-KlanjščekDeloitte d.o.oBeta ŠtembalPricewaterhouseCoopersRenata Šterbenc ŠtrusLaw Office Jadek & Pensad.o.o.Laura ThomsonPricewaterhouseCoopersNives UljanPanalpina WelttransportGmbHMatthias WahlSchönherr RechtsanwälteGmbH / Attorneys-at-LawAlenka ZaveršekPricewaterhouseCoopersBrigita ŽuničDeloitte d.o.oTina Žvanut MiočLaw Office Jadek & Pensad.o.o.SolomonIslandsDon BoykinPacific Architects LtdJohn KatahanasSol - LawAndrew RadclyffBarrister & SolicitorRoselle R. RosalesPacific Architects, Ltd.Gregory Joseph SojnockiMorris & SojnockiChartered AccountantsGerald StenzilTRADCO ShippingSouth AfricaTheo AdendorffKCSARoss AlcockEdward NathanSonnenbergs Inc.Mark BadenhorstPricewaterhouseCoopersBay Language InstituteKobus BlignautEdward NathanSonnenbergs IncMatthew BonnerBaker & McKenzie LLPLloyd ChaterBowman Gilfillan, memberof Lex MundiPaul CoetserBrink Cohen Le RouxHaydn DaviesWebber WentzelPaul De ChalainPricewaterhouseCoopersGretchen De SmitEdward NathanSonnenbergs Inc.Tim DesmondGarlicke & Bousfield Inc(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 187Rudolph Du PlessisBowman Gilfillan, memberof Lex Mundi.Miranda FeinsteinEdward NathanSonnenbergs Inc.Hennie GeldenhuysDepartment of LandAffairsSean GilmourPricewaterhouseCoopersTim Gordon-GrantBowman Gilfillan, memberof Lex MundiIgno GouwsWebber WentzelRoelof GrovéAdams & AdamsKing ImpexUnathi KondileBowman Gilfillan, memberof Lex MundiErle KoometsPricewaterhouseCoopersRenee KrugerWebber WentzelIrvin LawrenceGarlicke & Bousfield IncSam LefafaDepartment of LandAffairsJoão MartinsPricewaterhouseCoopersJoey MathekgaCIPRO ( Companies & IPRRegistration Office)Gabriel MeyerDeneys Reitz / AfricaLegalAmit ParekhBowman Gilfillan, memberof Lex MundiQ & N West ExportTrading HouseEamonn QuinnEamonn David QuinnAttorneyAntoinette ReynoldsDepartment of LandAffairsMalaika RibeiroPricewaterhouseCoopersNyasha SamuriwoBowman Gilfillan, memberof Lex MundiPeter SandsSDV LtdRichard SheinBowman Gilfillan, memberof Lex MundiRob SmorfittChamber of Commerce &IndustriesChris ToddBowman Gilfillan, memberof Lex MundiTransUnion ITCJacques van WykCliffe DekkerLlewellyn van WykCSIRClaire Van ZuylenBowman Gilfillan, memberof Lex MundiAllen WestDepartment of LandAffairsSt Elmo WilkenDeneys Reitz / AfricaLegalRozalynne WrightWebber WentzelSpainAllen & Overy LLPAna ArmijoAshurstCristina Ayo FerrándizUría & Menéndez, memberof Lex MundiArancha BadilloGarriguesVicente BootelloGarriguesAgustín BouJausasJames BryantOrrick, Herrington &SutcliffeCristina CalvoAshurstAriadna Cambronero GinésUría & Menéndez, memberof Lex MundiFrancisco Conde ViñuelasCuatrecasasJaume Cornudella MarquèsLandwell, Abogados yAsesores FiscalesMiguel CruzLandwell, Abogados yAsesores FiscalesFernando de la Puente AlfaroColegio de Resgitradoresde la Propiedad yMercantiles de EspañaAgustín Del Río GaleoteGómez-Acebo & PomboAbogadosIván Delgado GonzálezPérez - LlorcaMiguel Díez de los RíosBaker & McKenzieRossanna D’OnzaBaker & McKenzieRonald FerlazzoOrrick, Herrington &Sutcliffe LLPAntonio FernándezGarriguesJuan Carlos FernándezFernández-AvilésSagardoy AbogadosAlicia GamezOrrick, Herrington &Sutcliffe LLPValentín García GonzálezCuatrecasasBorja García-AlamánGarriguesAna GómezMonereo Meyer MarinelloAbogadosJuan Ignacio Gomeza VillaNotario de BilbaoIgor KokorevPérez - LlorcaAlfonso Maíllo del ValleSánchez Pintado, Núñez &AsociadosDaniel MarínGómez-Acebo & PomboAbogadosJorge Martín - FernándezClifford ChanceJosé Manuel MateoGarriguesAndrés Monereo VelascoMonereo, Meyer &Marinel-LoNicolás Nogueroles PeiróColegio de Registradoresde la Propiedad yMercantiles de EspañaAlberto Núñez-LagosBurgueraUría & Menéndez, memberof Lex MundiJose PalaciosGarriguesJuan Manuel Pardiñas ArandaEquifax IbericaDaniel Parejo BallesterosGarrigues Abogados yAsesores TributariosPedro Pérez-Llorca ZamoraPérez - LlorcaJuan Ramon-RamosLandwell, Abogados yAsesores FiscalesEnrique RodriguezAlitus S.A.Iñigo SagardoySagardoy Abogados,member of Ius LaborisPilar Salinas RincónSánchez Pintado, Núñez &AsociadosPablo SantosGómez-Acebo & PomboAbogadosSönke SchlaichMonereo, Meyer &Marinel-LoRafael SebastiánUría & Menéndez, memberof Lex MundiLindsay SimmonsOrrick, Herrington &Sutcliffe LLPJavier SimónBaker & McKenzieCristina SolerGómez-Acebo & PomboAbogadosGabriel SolísGarriguesJuan SoravillaMonereo Meyer MarinelloAbogadosRaimon TagliaviniUría & Menéndez, memberof Lex MundiFrancisco TéllezGarrigues Abogados yAsesores TributariosAdrián TheryGarriguesAlejandro VallsBaker & McKenzieJuan VerdugoGarriguesFernando VivesGarrigues Abogados yAsesores TributariosSri LankaAPLN.P.H. AmarasenaCredit Information BureauChiranga AmirthiahF.J. & G. De Saram, memberof Lex MundiManoj BandaraF.J. & G. De Saram, memberof Lex MundiSavantha De SaramD.L. & F. De SaramChamari de SilvaF.J. & G. De Saram, memberof Lex MundiSharmela de SilvaTiruchelvam AssociatesSadhini EdirisingheF.J. & G. De Saram, memberof Lex MundiChampika FernandoTiruchelvam AssociatesSamadh GajaweeraNithya PartnersNaomal GoonewardenaNithya PartnersPriyanthi GuneratneF.J. & G. De Saram, memberof Lex MundiRuwanthi Herat-GunaratneNithya PartnersVindya HettigeNithya PartnersDhanushke JayarathneHayleys Agro BiotechKishani JayasooriyaJulius & CreasyTudor JayasuriyaF.J. & G. De Saram, memberof Lex MundiInoka JayawardhanaF.J. & G. De Saram, memberof Lex MundiMahes JeyadevanPricewaterhouseCoopersHusni JiffryLanka ORIX SecuritiesPvt LtdJulius & CreasyLAN ManagementDevelopment ServiceRuvindu ManathungaHIF Logistics (PVT) Ltd.Dian NanayakkaraTiruchelvam AssociatesAsiri PereraMIT Cargo (Pvt) Ltd.Lakshana PereraSudath Perera AssociatesHiranthi RatnayakePricewaterhouseCoopersPaul RatnayekePaul Ratnayeke AssociatesTiruchelvam AssociatesHarini UdugampolaF.J. & G. De Saram, memberof Lex MundiShehara VariaF.J. & G. De Saram, memberof Lex MundiCharmalie WeerasekeraSudath Perera AssociatesShashi WeththasingheJulius & CreasySt. Kitts andNevisTrillaDaniel Brantley &AssociatesDepartment of LabourMichella AdrienMichella Adrien LawOfficeNicholas BrisbaneN. Brisbane & AssociatesBertill BrowneSt. Kitts ElectricityDepartmentScott CainesFrank B. Armstrong Ltd.Idris Fidela ClarkeFinancial ServicesDepartmentNeil CoatesPricewaterhouseCoopersKennedy de SilvaCustoms and ExciseDepartmentKamesha GrahamWalwynLawRenee GumbsFinancial ServicesDepartmentRodney HarrisCustoms and ExciseDepartmentDollrita Jack-CatoWebster Dyrud MitchellDahlia JosephDaniel Brantley &AssociatesL. Everette MartinEastern Caribbean CentralBankAyoub MorancieRoyal Bank of CanadaPatrick PattersonCaribbean AssociatedAttorneysRandy PrenticeFrank B. Armstrong Ltd.Marscha PrincePricewaterhouseCoopersWarren ThompsonConstsvesVernon S. VeiraVernon S. Veira &AssociatesCharles WalwynPricewaterhouseCoopers(c) The International Bank for Reconstruction and Development / The World Bank

188 Doing Business 2009St. LuciaThaddeus M. AntoineFrancis & AntoineAisha BaptisteHigh Court RegistryGerard BergasseTropical ShippingDesma F. CharlesRegistry of Companies andIntellectual PropertyPeter I. FosterPeter I. Foster &AssociatesPeterson D. FrancisPeterson D. FrancisWorldwide Shipping &Customs Services Ltd.Carol J. GedeonChancery ChambersGordon & Gordon CoAnderson LakeBank of St Lucia LtdBrian LouisyThe St. Lucia Chamber ofCommerce Industry andAgricultureDuane C. MarquisNLBA ArchitectsStephen McnamaraMcnamara & Co.Richard PeterkinPricewaterhouseCoopersEldris Pierre-MauricetteTropical ShippingPaul PopoLand RegistryGilroy PultieSt. Lucia ElectricityServices Limited (LUCELEC)Margaret Anne St. LouisMinistry of Planning,Development, Environmentand HousingGillian Vidal-JulesMinistry of JusticeBrenda M. WilliamsChase, Skeete & BolandSt. Vincent andthe GrenadinesKay R.A. Bacchus-BrowneKay Bacchus - BrowneChambersAurin BennettAurin Bennett ArchitectsGraham BollersRegal ChambersEvelyn CambridgeDougie’s Customs &Shipping AgencyParnel R. CampbellCampbell’s ChambersMira E. CommissiongEquity ChambersPaula E. DavidSaunders & HugginsStanley DeFreitasDefreitas & AssociatesBernadine DublinLabour DepartmentMarlene EdwardsCampbell’s ChambersTheona R. Elizee-StapletonCommerce & IntellectualProperty Office (CIPO)Tamara Gibson-MarksHigh Court RegistraryVenessa GibsonNational Commercial Bank(SVG) Ltd.Stanley HarrisSt. Vincent ElectricityServices Limited VINLECCharleston H. JacksonDr. Lewis Law ChambersLeroy JamesCustoms AuthoritySean JoachimCaribTransBrenan B. KingEquinox Marine Surveying& ConsultingRosann N.D. KnightsRegal ChambersErrol E. LayneErrol E. Layne ChambersLinton A. LewisDr. Lewis Law ChambersAndrea Young LewisCommerce & IntellectualProperty Office (CIPO)Clairmonte LynchCustoms AuthorityMoulton MayersMoulton MayersArchitectsSabrina NeehallScotiabankKathy-Ann NoelSaunders & HugginsFloyd A. PattersonPannell Kerr ForsterRichard PeterkinPricewaterhouseCoopersMaria ReeceScotiabankNicole O.M. SylvesterCaribbean InternationalLaw FirmGertel ThomHigh Court KingstownL.A. Douglas WilliamsLaw Firm of Phillips &WilliamsArthur F. WilliamsWilliams & WilliamsSteve J. WyllieSt. Vincent ElectricityServices Limited VINLECSudanOmer Abdel AtiOmer Abdel Ati SolicitorsAbdullah AbozaidLaw Office of Abdullah A.AbozaidMohamed Ibrahim AdamDr. Adam & AssociatesJamal Ibrahim AhmedAttorney-at-LawAshraf A.H. El NeilMahmoud Elsheikh Omer &Associates AdvocatesTariq Mohmoud ElsheikhOmerMahmoud Elsheikh Omer &Associates AdvocatesYassir ElsiddigMarwaco for Medical &Chemical Imports Ltd.Kastaki S. GanbertK.S. Ganbert & Sons Ltd.Osman Mekki AbdurrahmanHLCSMekki OsmanHLCSOsman OsmanHLCSAmal SharifMahmoud Elsheikh Omer &Associates AdvocatesAbdel Gadir WarsamaDr. Abdel Gadir WarsamaGhalib & Associates LegalFirmTag Eldin Yamani SadigMontag Trading &Engineering Co. Ltd.SurinameG. Clide CambridgeParamaribo Custom Broker& PackerAnoeschka DebipersadA.E. Debipersad &AssociatesMarcel K. EyndhovenN.V. EnergiebedrijvenSurinameCarel van HestArchitectHakrinbank N.V.Johan KasteleinKDV ArchitectsStanley MaricaAdvokatenkantoor MaricaLaw Firm MaricaAnouschka NabibaksBDO AbrahamsRaijmann &PartnersB.M. OemrawN.V. Global ExpeditionAngèle J. Ramsaransing-KargBDO AbrahamsRaijmann &PartnersAdiel SakoerN.V. Global ExpeditionInder SardjoeN.V. Easy ElectricAlbert D. SoedamahSoedamah & AssociatesRadjen A. SoerdjbalieNotariaat R.A. SoerdjbalieJennifer van Dijk-SilosLaw Firm Van Dijk-SilosM.E. van Genderen-RelyveldHigh Court of JusticeJ.R. von NiesewandHigh Court of JusticePerry D. WolframBroCad N.V.SwazilandVincent GaleromeloeTransUnion ITCTina Phumlile KhozaMunicipal Council ofManziniPaul LewisPricewaterhouseCoopersAndrew LinseyPricewaterhouseCoopersC.J. LittlerC.J. Littler & Co.Jerome NdzimandzeSpeed Limit ConstructionJosé RodriguesRodrigues & AssociatesP.M. ShilubaneP.M. Shilubane &AssociatesMahene ThwalaThlwawa AttorneysBradford Mark WalkerBrad Walker ArchitectsSwedenMats BerterMAQS Law FirmLinda Broström-CabreraPricewaterhouseCoopersRoger GavelinPricewaterhouseCoopersOlof HallbergAdvokatfirman LindahlEmil HedbergAdvokatfirman Vinge KB,member of Lex MundiPetter HolmGärde WesslauAdvokatbyråBengt KjellsonLantmäterietChristoffer MonellMannheimer SwartlingAdvokatbyråKarl-Arne OlssonGärde WesslauAdvokatbyråMattias ÖrnulfHökerberg & SöderqvistAdvokatbyrå KBCarl ÖstringMagnussonPatrik OttosonMAQS Law FirmPanalpina ABJesper SchönbeckAdvokatfirman Vinge KB,member of Lex MundiOdd SwartingSetterwalls AdvokatbyråSwitzerlandPeter R. AltenburgerAltenburgerRashid BaharBär & Karrer AGBeat M. BartholdFroriep RenggliMarc BernheimStaiger Schwald & PartnerBernhard G. BurkardNotariat BernhardBurkardMauro CavadiniBrunoni Molino MottisAdamiRobert P. DesaxPricewaterhouseCoopersCyrill DiemSuzanne EckertWenger PlattnerOlivier HariSchellenberg WittmerJakob HoehnPestalozzi Lachenal Patry,member of Lex MundiUeli HuberHomburgerDavid HürlimannCMS von Erlach HenriciAGVincent JeanneretSchellenberg WittmerHanspeter KlaeyWassilos LytrasAPM Global LogisticsSwitzerland Ltd.Christian P. MeisterNiederer Kraft & FreyValerie MeyerNiederer Kraft & FreyAndrea MolinoBrunoni Molino MottisAdamiGeorg NaegeliHomburgerGema OlivarElena SampedroSchellenberg WittmerDaniel SchmitzPricewaterhouseCoopersDaniel SteudlerSwisstopo, Directorate forCadastral SurveyingBarbara Stöckli-KlausFroriep RenggliAndrin WaldburgerPricewaterhouseCoopersZEK SwitzerlandSyriaMazen Abo NasrYaser Hmedan Law Office.Sulafah AkiliMinistry of Economy &TradeMouazza Al AshhabAuditing ConsultingAccounting CenterHani Al Jaza’riSyrian Arab ConsultantsLaw OfficeRawaa Al MidaniMinistry of Trade &EconomyAbd Anaser Al SalehSbanehAlissar Al-AhmarAl-Ahmar & PartnersNabih AlhafezSFS (Speed ForwardShipping)Bisher Al-HoussamiAL-ISRAA Int’l FreightForwarder(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 189Rasem Al-IkhwanHome Textile CompanyWasim AnanYaser Hmedan Law Office.Nasim AwadLegality - Lawyers &ConsultantsKaram I. BecharaBank AudiHani BitarSyrian Arab ConsultantsLaw OfficeRiad DaoudiSyrian Arab ConsultantsLaw OfficeLina El-HakimHakim Law FirmYoussef El-HakimHakim Law FirmWael HamedYaser Hmedan Law Office.Abdul Raouf HamwiCivil Engineering OfficeBashir HazaMinistry of Trade &EconomyYaser HmedanYaser Hmedan Law Office.Ibrahim IbrahimMinistry of Trade &EconomyJoumana JabbourAttorney-at-LawAntoun JoubranSyrian Arab ConsultantsLaw OfficeOsama KarawaniKarawani Law OfficeRaed KarawaniKarawani Law OfficeFadi KardousKardous Law OfficeMazen N. KhaddourLaw Office of M.Khaddour & AssociatesSalah KurdyYaser Hmedan Law Office.Moussa MitryUniversity of Damascus /Louka & Mitry Law OfficeGabriel OussiSyrian Arab ConsultantsLaw OfficeHousam SafadiSafadi BureauMaya SalehYaser Hmedan Law Office.Samer SultanSultans LawTaiwan, ChinaVictor ChangLCS & PartnersJohn ChenFormosa TransnationalNicholas V. ChenPamir Law GroupDin Shin ChenSupertech ConsultantsInternationalPaul F. ChenSupertech ConsultantsInternationalFrances F.Y. ChenTai E International Patent& Law OfficeYu-Li ChenTaiwan Shihlin DistrictCourtEdgar Y. ChenTsar & Tsai Law FirmTina ChenWinkler PartnersChun-Yih ChengFormosa TransnationalAbraham ChengLexcel PartnersYu-Chung ChiuMinistry of The InteriorJulie C. ChuJones DaySteven GoPricewaterhouseCoopersMay HanTai E International Patent& Law OfficeYuling HsuFormosa TransnationalTony HsuPamir Law GroupBarbara HsuSDV Ltd.Robert HsuSDV Ltd.Inu HsuTaipowerT.C. HuangHuang & PartnersMargaret HuangLCS & PartnersJoanne HungYangming PartnersZue Min HwangAsia World Engineering &Construction Co.Charles HwangYangming PartnersNathan KaiserWenfei LawWen-Horng KaoPricewaterhouseCoopersLawrence LeeHuang & PartnersMichael D. LeePamir Law GroupPoching LeeWenfei LawChih-Shan LeeWinkler PartnersHung-Lieh LiangPricewaterhouseCoopersTory C.T. LiaoTai E International Patent& Law OfficePerkin T.Y. LiawTai E International Patent& Law OfficeMing-Yen LinDeep & Far, Attorneysat-LawJeffrey LinJoint Credit InformationCenterRich LinLCS & PartnersEmily LinPamir Law GroupYishian LinPricewaterhouseCoopersFrank LinRexmed Industries Co., Ltd.Youlanda LiuPamir Law GroupCharlotte LiuPricewaterhouseCoopersCatherine LiuSDV Ltd.Julia LiuSDV Ltd.Jennifer LoPricewaterhouseCoopersMike LuLexcel PartnersLloyd G. Roberts IIIWinkler PartnersMichael SchreiberYangming PartnersJasmine C. ShenPamir Law GroupTanya Y. TengHuang & PartnersBee Leay TeoBaker & McKenzieC.F. TsaiDeep & Far, Attorneysat-LawEric TsaiPuhua & Associates,PricewaterhouseCoopersLegal ServicesRita TsaiAPLJoe TsengLCS & PartnersRichard WatanabePricewaterhouseCoopersRobin J. WinklerWinkler PartnersMain-Main WuAsia World Engineering &Construction Co.Pei-Yu WuBaker & McKenzieQuiao-ling WuDeep & Far, Attorneysat-LawShin Mei WuJoint Credit InformationCenterEcho YehLexcel PartnersAndrew YehPanalpinaShih-Ming YouMinistry of The InteriorTajikistanBakhtiyor AbdulhamidovAkhmedov, Azizov &Abdulhamidov AttorneysArdak AiyekeyevaPricewaterhouseCoopersShavkat AkhmedovAkhmedov, Azizov &Abdulhamidov AttorneysDilshod AlimovUSAID/BEI, PragmaCorporationAbdulbori BaybayevLex Law FirmFaridun BoboevGolden Lion GroupCompaniesSergey ChetverikovPricewaterhouseCoopersAdkham ErgashevIFCCourtney FowlerPricewaterhouseCoopersElena KaevaPricewaterhouseCoopersAbdulkhamid MuminovPricewaterhouseCoopersMizrobiddin NugmanovGlobalink Logistics GroupMadina NurmatovaTajikistan BEE - SME PolicyProjectZarina OdinaevaIFCManuchehr RakhmonovUSAID/BEI, Pragma CorpNurali ShukurovUSAID/BEI, Pragma CorpDjasurbek TeshaevGolden Lion GroupCompaniesVictoria VictorovaIFCWendy Jo WernerIFCTanzaniaPatrick AcheMkono & Co.Krista Bates van WinkelhofFK Law ChambersSteven de BackerMkono & Co.Santosh GajjarSumar Varma AssociatesFarija GhikasREX AttorneysChristopher GiattasREX AttorneysEve Hawa SinareREX AttorneysJohnson JassonJohnson Jasson &Associates AdvocatesNgwaru MaghembeMkono & Co.Victoria Lyimo MakaniREX AttorneysBruno MarilhetSharbathoTabitha MaroREX AttorneysKen MkondyaREX AttorneysNimrod MkonoMkono & Co.Angela MndolwaFK Law ChambersArafa MohamedREX AttorneysChris MsuyaHorwarth TanzaniaLugano J.S. MwandamboREX AttorneysShabani MwatawalaPSM Architects Co. Ltd.Alex Thomas NgulumaREX AttorneysGilbert NyantanyiMkono & Co.Conrad NyukuriPricewaterhouseCoopersLegal ServicesAdalbert RusagaraBreakthrough HoldingsCharles R.B. RwechunguraREX AttorneysRishit ShahPricewaterhouseCoopersGeoffrey SikiraTanganyika Law SocietyEve Hawa SinareREX AttorneysMohamed H. SumarSumar Varma AssociatesDavid TarimoPricewaterhouseCoopersMustafa TharooRingo & Associates,member of the AfricaLegal NetworkThailandAllen & OveryKhunying NatthikaWattanavekin AngubolkulEastern Sugar and CaneCompany LimitedJanist AphornratanaPricewaterhouseCoopersAngsurus AreekulThai Contractorsassociation under H.M. TheKing’s PatronageChalee ChantanayingyongSecurities & ExchangeCommissionPhadet CharoensivakornNational Credit BureauCo., Ltd.Thunyaporn ChartisathianSiam Premier InternationalLaw Office Ltd.Chinnavat ChinsangaramWhite & CaseJohn FotiadisTilleke & GibbinsInternational Ltd., memberof Lex MundiSeetha GopalakrishnanPricewaterhouseCoopersVira KammeeSiam City Law Offices Ltd.Yingyong KarnchanapayapTilleke & GibbinsInternational Ltd., memberof Lex Mundi(c) The International Bank for Reconstruction and Development / The World Bank

190 Doing Business 2009Sakares KhamwaleeKomkrit KietduriyakulChaiyut KumkunCustoms StandardProcedure and ValuationDivisionLawPlus Ltd.William LehaneSakchai LimsiripothongWhite & CasePratchayapa MahamontreeSiam City Law Offices Ltd.Anawat MalawanVickery& Worachai Ltd.Douglas D. MancillDeaconsPauline A. ManzanoPricewaterhouseCoopersSteven MillerMayer Brown JSM, memberof Lex MundiKulachet NanakornWhite & CaseThawatchai PittayasophonSecurities and ExchangeCommissionViro PiyawattanamethSompong PongsakulrangseeMetropolitan ElectricityAuthorityCynthia M. PornavalaiTilleke & GibbinsInternational Ltd., memberof Lex MundiSupan PoshyanandaSecurities and ExchangeCommissionChanet PrecharonasetAPL Logistics Services Ltd.Sudthana PuntheeranurakNational Credit BureauCo., Ltd.Michael RamirezTilleke & GibbinsInternational Ltd., memberof Lex MundiPiyanuj RatprasatpornTilleke & GibbinsInternational Ltd., memberof Lex MundiDussadee RattanopasThavorn RujivanaromPricewaterhouseCoopersMaythawee SarathaiMayer Brown JSM, memberof Lex MundiKowit SomwaiyaLawPlus Ltd.Rachamarn SuchitchonSecurities and ExchangeCommissionPicharn SukparangseeSiam City Law Offices Ltd.Chusert SupasitthumrongTilleke & GibbinsInternational Ltd., memberof Lex MundiOrnjira TangwongyodyingPricewaterhouseCoopersKrisada ThamviriyarakChodthanawat Co., LtdAlongkorn TongmeeTilleke & GibbinsInternational Ltd., memberof Lex MundiPaisan TulapornpipatBlue Ocean Logistics Co.,Ltd.Pattara VasinwatanapongVickery& Worachai Ltd.Harold K. Vickery Jr.Vickery & Worachai Ltd.Pimvimol VipamaneerutTilleke & GibbinsInternational Ltd., memberof Lex MundiAvoot WannvongOffice of the PublicSector DevelopmentCommissionKobkarn WattanavrangkulToshiba Co. LtdSomsak WitnalakornMetropolitan ElectricityAuthorityTimor-LesteCandido da ConceiçãoUSAIDRoberto MonteiroSDVCornelio PachecoJVK International MoversTjia Soh SiangTjia & Tchai AssociatesFrancisco SoaresServiço do Imposto deTimor LesteTogoBolloré DTI - SDVJean-Marie AdenkaCabinet AdenkaDa-Blece Afoda-SebouOrdre Nationaldes Architectes duTogo,(ONAT)Kokou Gadémon AgbessiCabinet LucreatifKafoui AgboyiborCabiet Me Yawovi AgboyiboMartial AkakpoSCP Martial AkakpoAdzewoda AmetsiagbeDirection Générale del’Urbanisme et de l’HabitatKokou Darius AtsooSCP Martial AkakpoPhilippe AttohSCP Martial AkakpoSylvanus Dodzi AwuteyCabinet LucreatifJonathan DarbouxBCEAOFatimatou Zahra DiopBCEAOFoli Doe-BruceA.U.D.E.P. InternationalKoffi Joseph DogbeviCabinet LUCREATIFFirmin Kwami DzonoukouNotaireSonhaye GbatiFondation Heinrich KloseFranklin Koffi GbedeyEngineerJean Claude GnamienFIDAFRICA /PricewaterhouseCoopersHermann GnangoFIDAFRICA /PricewaterhouseCoopersEvelyne M’BassidgéFIDAFRICA /PricewaterhouseCoopersAdeline MessouFIDAFRICA /PricewaterhouseCoopersTiburce MonnouSCP Martial AkakpoOlivier PedanouCabinet LucreatifGalolo SoedjedeAvocat à la CourDominique TatyFIDAFRICA /PricewaterhouseCoopersInès Mazalo TekpaCabinet LucreatifFousséni TraoréFIDAFRICA /PricewaterhouseCoopersAdjé Prince Wilsom AdjeteAvocat à la CourPrince Zacharie Adjé Wilson-AdjeteCabinet de Maître GaloloSoedjede, avocat auBarreau du TogoTongaInoke AfuDateline Shipping & TravelLtd.Ramsay R. DalgetyTonga Electric PowerBoardFine TohiDateline Shipping & TravelLtd.William Clive EdwardsLaw OfficeAisake EkeMinistry of FinanceSione EtikaEtika Law OfficeAnthony FordSupreme CourtSalesi FotuLand RegistryL. Aloma JohanssonR. Albin Johansson & Co.Public Accountants andBusiness ConsultantsLusio Lausi’iMinistry of Labor,Commerce and IndustriesMaliu MafiIsland Enterprises Ltd.Mele Mafi OtuafiLee MillerWaste Management Ltd.Laki M. NiuLaki Niu OfficesSamiuela M. PaluMagistrate’s CourtSiaosi Peleki MoalaMinistry of WorksSipiloni RaasJaimi Associates -ArchitectsDavid ReesbyFletcher Royco JointVentureIan SkeltonShoreline DistributionLtd.Dana StephensonLaw OfficeRalph StephensonLaw OfficeMaliu TaioneSione Havea TaioneSupreme Court of JusticeHiva TatilaTonga Development BankChristine Uta’atuUta’atu & AssociatesIsileli VeaJaimi Associates -ArchitectsDiana WarnerSkip’s Custom Joinery Ltd.Trinidad andTobagoAndre BassThe Fast Freight GroupSteve BecklesR.D. Rampersad & Co.Tiffanny CastilloM. Hamel-Smith & Co.,member of Lex Mundi.Terry CurtisTransUnionRachael CyrusM. Hamel-Smith & Co.,member of Lex MundiGary EdwardsT & K Engineering LimitedNicole Ferreira-AaronM. Hamel-Smith & Co.,member of Lex MundiLarry HackshawCaribbean Shipping &Consolidating CorpPeter InglefieldPricewaterhouseCoopersColin LairdColin Laird AssociatesMarcia LeonardThe Fast Freight GroupKeomi LourencoM. Hamel-Smith & Co.,member of Lex MundiRamesh LutchmanTransUnionMarjorie NunezLEX CaribbeanGregory PantinM. Hamel-Smith & Co.,member of Lex MundiSonji Pierre ChaseLEX CaribbeanDeborah RagoonathPricewaterhouseCoopersMark RamkerrysinghFitzwilliam Stone Furness-Smith & MorganRamdath Dave RampersadR.D. Rampersad & Co.Danzel ReidTrinidad & TobagoElectricity CommissionBryan RooplalEmployers’ ConsultativeAssociation of Trinidadand TobagoWinston R. SimmondsCaribbean Shipping &Consolidating CorpStephen A. SinghLEX CaribbeanPatricia ThomasWorld Freight s.a.r.l.Jonathan WalkerM. Hamel-Smith & Co.,member of Lex MundiGrantley WiltshireM. Hamel-Smith & Co.,member of Lex MundiTunisiaSamir AbdellyAbdelly & AssociesMonêm AchourAchour & AssociatesMokhtar AmorSociété Tunisienne del’Electricité et du GazMohamed Moncef BarouniACRAdly BellaghaAdly Bellagha &AssociatesMohamed Ben AbdallahAgence de Promotion del’IndustrieHend Ben AchourAdly Bellagha &AssociatesRafika Ben Aissa BouslamaMinistère de la JusticeOthman Ben ArfaSociété Tunisienne del’Elecricite et du GazIsmail Ben FarhatAdly Bellagha &AssociatesBéatrice Ben HassenSLTC Graveleau, DachserGroupElyès Ben MansourAvocats Conseils AssociésMiriam Ben RejebPricewaterhouseCoopersLegal ServicesKamel Ben SalahGide Loyrette Nouel,member of Lex MundiAbdelfattah BenahjiFerchiou & AssociésMeziou KnaniBelkacem BerrahTribunal de 1ère Instancede TunisManel BondiPricewaterhouseCoopersSalaheddine Caid EssebsiCE&P Law Firm(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 191Salma ChaariAbdelly & AssociesFaouzi CheikhBanque CentraleAbdelmalek DahmaniDahmani TransitInternationalEric DouaySDVMohamed Lotfi El AjeriAvocat a la Cour etmediateur agree par leB.B.MCMourad El ArouiAmen BankYassine El HafiAdly Bellagha &AssociatesFaïza FekiBanque CentraleAbderrahmen FendriPricewaterhouseCoopersYessine FerahCE&P Law FirmAmel FerchichiGide Loyrette Nouel,member of Lex MundiNoureddine FerchiouFerchiou & associésMeziou KnaniAfif GaigiAvocats Conseils AssociésLamia HarguemGide Loyrette Nouel,member of Lex MundiInstitut d’EconomieQuantitativeBadis JedidiGide Loyrette Nouel,member of Lex MundiNajla JeziACRSami KallelKallel & AssociatesAdlene KooliComete EngineeringMinistère duDéveloppement etde la CoopérationInternationaleAmina LarbiGide Loyrette Nouel,member of Lex MundiMohamed LouzirCabinet M.S. LouzirMabrouk MaalaouiPricewaterhouseCoopersSlim MaloucheMalouche law FirmKhaled MarzoukRépublique TunisienneCentre Informatique duMinistere des FinancesMohamed Ali MasmoudiPricewaterhouseCoopersLegal ServicesSarah MebezaaComete EngineeringRadhi MeddebComete EngineeringFaouzi MiliMili and AssociatesHedidar MoufidaAgence de Promotion deL’IndustrieMohamed Taieb MrabetBanque CentraleAhmed OuerfelliLegal and Judicialresearch CentreImed TanazeftiGide Loyrette Nouel,member of Lex MundiRachid TmarPricewaterhouseCoopersLegal ServicesAmine TurkiOrdre des Architectes deTunisieAnis WahabiAWT Audit & ConseilSebai YoussefRépublique Tunisienne,Ministère de L’Intérieur etdu développement localMohamed Ali MasmoudiPricewaterhouseCoopersLegal ServicesTurkeyMelike AkanMehmet Gün & Co.Ceyda AkbalTurunç Law OfficeMelis AkkurtBener Law Office, memberof Ius LaborisMiray AkovalıgilPekin & Pekin, member ofLex Mundi, member of SEELegalCeren AktaşPricewaterhouseCoopersBora AktürkAktürk & Çetiner ABMehmet AlakasAlaclothDuygu AlkanAlkan Deniz MavioğluDilmen Law OfficeMustafa AlperYASED - InternationalInvestors AssociationArda AlposkayDevres Law officeUğur AmasyaAmasya Law OfficeMelsa AraratCorporate GovernanceForum of Turkey, SabanciUniversityŞeref Can AratMehmet Gün & Co.Naci ArkanMinistry of FinanceÖzen AtihanPekin & Pekin, member ofLex Mundi, member of SEELegalPınar AybekBener Law Office, memberof Ius LaborisLevent AydaşAydaş Liman KurmanYasemin AydoğmuşMehmet Gün & Co.Elvan Aziz BikmenPaksoy & Co. Law FirmDerya Baksı PekyalçınTarlan & Pekyalçın LawOfficeSelin BarlakPaksoy & Co. Law FirmBurçin BarlasAlkan Deniz MavioğluDilmen Law OfficeCansel BaydinçHerguner Bilgen OzekeErim BenerBener Law Office, memberof Ius LaborisYvonne BensasonMehmet Gün & Co.Sinan BorovalıPekin & Pekin, member ofLex Mundi, member of SEELegalTuba Burcu SenelTurkish Confederation ofEmployer AssociationsGulnur CamcıSomay Hukuk BurosuEsin ÇamlıbelTurunç Law OfficeCan CankoPekin & Pekin, member ofLex Mundi, member of SEELegalM. Fadlullah CerrahoğluCerrahoğlu Law FirmF. Şebnem ÇetinerAktürk & Çetiner ABFikret ÇetinkayaKPMG Yetkin Ymm A.ŞGulnisa CoşkunPekin & Pekin, member ofLex Mundi, member of SEELegalEbru DabbaghTurunç Law OfficeKürşat DemirezenICT International TradingOrkun DenizKredit Kayit BureauEda DenizeAlkan Deniz MavioğluDilmen Law OfficeRüçhan Derici3e Danışmanlık Ltd. Şti.Emine DevresDevres Law officeBaşak DiclehanKPMG Yetkin Ymm A.ŞOnur DönmezOrhaner Law OfficeDilara DumanSarıibrahimoğlu LawOfficeErdem EgemenPricewaterhouseCoopersMurat EmirhanoğluKPMG Yetkin Ymm A.ŞSedat EratalarDeloitte & ToucheGökben Erdem DiricanPekin & Pekin, member ofLex Mundi, member of SEELegalEsin ErtekPricewaterhouseCoopersLuc FourcadeSDV - Horoz LogisticsHakkı GedikHerguner Bilgen OzekeArman GezerDeloitte & ToucheSait GözümDeloitte & ToucheAli GözütokPekin & Pekin, member ofLex Mundi, member of SEELegalHakan GüleçyuzUltrasonik Ltd.Onur GülsaranCerrahoğlu Law FirmRıfat GünayCentral BankA. Feridun GüngörErnst & YoungHande HameviPekin & Pekin, member ofLex Mundi, member of SEELegalŞebnem IşıkMehmet Gün & PartnersOğuz KainPekin & Pekin, member ofLex Mundi, member of SEELegalEgemen KaradumanErnst & YoungOzan KaradumanMehmet Gün & Co.Ekin KavukçuoğluDeloitte & ToucheGözde KayacıkPekin & Bayar Law FirmBetül KencebayYASED - InternationalInvestors AssociationÖzlem KızılÇakmak Avukatlık BürosuÖzcan KoçGulhan MarbleSertak KokenekBener Law Office, memberof Ius LaborisCumhur KöseoğluKentsel Machinery Co. Ltd.Cengiz KoyuncuTektron Dış Tic. Ltd. Şti.Kürşat KunterCentral BankBurcak KurtSomay Hukuk BurosuAlpaslan Hamdi KuzucuoğluIstanbul MetropolitanMunicipalityAltan LimanAydaş Liman KurmanKoshy MathaiIMFOrhan Yavuz MavioğluAlkan Deniz MavioğluDilmen Law OfficeRana Mazlum YılmazYilmaz Law OfficesLerzan NalbantoğluTurunç Law OfficeYılmaz NalçakarMed Shipping LogisticsTransport & Trade Ltd.CorporationJacques NaudinSDV - Horoz LogisticsZeynephan OğuzCerrahoğlu Law FirmFahri OkumuşCentral BankŞebnem ÖnderÇakmak Avukatlık BürosuErtaç ÖnerThe Chamber of Architectsof TurkeyÇağlayan Orhaner DündarOrhaner Law OfficeSelin ÖzbekOzbek Attorneys at LawSelin ÖzdoğanCerrahoğlu Law FirmEkin Vukçuoğlu ÖzgülsenDeloitte & ToucheFunda ÖzselBener Law Office, memberof Ius LaborisTuba ÖzsezenYASED - InternationalInvestors AssociationAlaattin ÖzyürekInvestment Support andPromotion Agency ofTurkeyFerhat PekinPekin & Bayar Law FirmÇağıl Şahin BiberPricewaterhouseCoopersBilge SaltanDülger Law FirmHasan SarıçiçekKPMG Yetkin Ymm A.ŞSelim SarıibrahimoğluSarıibrahimoğlu LawOfficeMustafa SerdaroğluPekin & Pekin, member ofLex Mundi, member of SEELegalAyşe SertÇakmak Avukatlik BürosuUfuk SoğütlüoğluDeloitte & ToucheSera SomaySomay Hukuk BurosuEmine SönmezPricewaterhouseCoopersLegal DepartmentNaz TamerMehmet Gün & Co.Aylin TarlanTarlan & Pekyalçın LawOfficeBülent TaşMinistry of FinanceGüzel TokerPricewaterhouseCoopersFiliz ToprakMehmet Gün & Partners(c) The International Bank for Reconstruction and Development / The World Bank

192 Doing Business 2009Şule TunalıSalkim Tarim Ürünleri San.ve Tic. Ltd. Şti.Turkish Industrialists’ andBusinessmen’s Association(TUSIAD)Noyan TurunçTurunç Law OfficeIbrahim TutarPenetra Consulting andAuditingEbru TuygunDeloitte & ToucheGökçe UcuzalBener Law Office, memberof Ius LaborisTuğçe UğurluHerguner Bilgen OzekeArzu UluçCentral BankHilal ÜnalGokser Machine LtdFurkan ÜnalPGlobal Advisory ServicesLtd.Begüm YavuzdoğanMehmet Gün & PartnersBanyu YılmazUnion of Chambers andCommodity ExchangesAsım Serdar YılmazÇakmak Avukatlik BürosuHülya YılmazDeloitte & ToucheCağatay YılmazYilmaz Law OfficesAylin YontarCerrahoğlu Law FirmMurat YülekPGlobal Advisory ServicesLtd.Serap ZuvinSerap Zuvin Law OfficesUgandaJoachim AlinaitweShonubi, Musoke & Co.AdvocatesJoseph BaliddawaPricewaterhouseCoopersWalugembe ChristopherMMAKS AdvocatesFrederick M.S Egonda-NtendeHigh CourtMoses Jurua AdrikoMMAKS AdvocatesFrancis KamulegeyaPricewaterhouseCoopersJohn Fisher KanyemibwaKateera & KagumireAdvocatesPhillip KarugabaMMAKS AdvocatesEdwin KarugireKiwanuka & KarugireAdvocatesJim KasigwaPricewaterhouseCoopersVincent KatutsiKateera & KagumireAdvocatesPeter KaumaKiwanuka & KarugireAdvocatesSophie KayembaPricewaterhouseCoopersRobert KiggunduArch Forum Ltd.Geoffrey KiryabwireJusticeKiryowa KiwanukaKiwanuka & KarugireAdvocatesRobert KomakecArch Forum Ltd.Eeshi KutuguPricewaterhouseCoopersJames KyazzeShonubi, Musoke & Co.AdvocatesJoseph LuswataSebalu & Lule Advocatesand Legal ConsultantsRobinah LutaayaPricewaterhouseCoopersBen LuwumBVL & Co.John MpambalaKampala City CouncilPaul Frobisher MugambwaPricewaterhouseCoopersSimon MuhumuzaKampala City CouncilCornelius MukiibiC. Mukiibi Sentamu & Co.Fatuma NabulimeSDV Transami Ltd.Plaxeda NamirimuPricewaterhouseCoopersRachel NansikombiPricewaterhouseCoopersDiana NinsiimaMMAKS AdvocatesAlex RezidaNangwala, Rezida & Co.AdvocatesKenneth RutaremwaKateera & KagumireAdvocatesAli SengendoMwebe, Sebaggala & Co.Stephen SerunjogiKateera & KagumireAdvocatesAlan ShonubiShonubi, Musoke & Co.AdvocatesManish SiyaniSeyani Brothers & Co. (U)LtdParbat SiyaniSeyani Brothers & Co. (U)LtdSebadduka SwaibuShaba Motors Ltd.Godfrey ZziwaMuwanguzi, Zziwa & MusisiAdvocatesUkraineOleg Y. AlyoshinVasyl Kisil & PartnersSasha AndroschukGrischenko & PartnersAleksandra AndroschykGrischenko & PartnersAndrey AstapovAstapov LawyersInternational Law GroupOlga BalytskaDLA PiperRon J. BardenPricewaterhouseCoopersIgor BessonovFlorentin BlancIFCTimur BondaryevArzinger & PartnersInternational Law FirmTatiana BuchkoShevchenko Didkovskiy &PartnersIgor DankovPricewaterhouseCoopersVladimir DidenkoPricewaterhouseCoopersEugene FreyukIlyashev & PartnersKaryna GorovayaInternational Law OfficesKseniya GuretskayaInternational Law OfficesLesia IakovenkoIFCSanjar IbragimovIFCNataliya KhutoryanetsZamorska & Partners LLCAndriy KirmachChadbourne & Parke LLPKateryna KokotThe Silecky FirmSergei KonnovKonnov & SozanovskyMaksym KopeychykovIlyashev & PartnersKseniya KoryukalovaKonnov & SozanovskyTatyana KuzmenkoAstapov LawyersInternational Law GroupBorys LobovykKonnov & SozanovskyValeriy LukinovVenissa Ltd.Mikhail MalkovDmitry MaximovRem Shipping Ltd.Vadym MizyakovShevchenko Didkovskiy &PartnersaghNatalya MyroshnychenkoInternational Law OfficesSergiy OnishchenkoChadbourne & Parke LLPKateryna OnulIFCDmytro OrendaretsArzinger & PartnersInternational Law FirmOleksandr PadalkaShevchenko Didkovskiy &PartnersMagdalena PatrzykPricewaterhouseCoopersOlexiy V. PokotyloHannes Snellman,Attorneys-at-Law Ltd.Sava P. PoliakovGrischenko & PartnersVitaliy PravdyukKonnov & SozanovskyAnna PutintsevaChadbourne & Parke LLPDmitry PyatachenkoIFCMarina SavchenkoAstapov LawyersInternational Law GroupOlga SerbulLaw Firm IP & C. ConsultLLCMykhailo ShchitkaVasyl Kisil & PartnersOlga ShumikhinaGrischenko & PartnersMarkian B. SileckyThe Silecky FirmSvitlana SileckyThe Silecky FirmAnna SisetskaVasil Kisil & PartnersArtem SkorobogatovInternational Law OfficesOleksander SubbotinArzinger & PartnersInternational Law FirmIryna TelychkoGrischenko & PartnersOleg VusochinskiyGrischenko & PartnersTetyana VydoboretsKonnov & SozanovskyAnna YakubenkoPricewaterhouseCoopersOlexiy YanovLaw Firm IP & C. Consult,LLCTatiana ZamorskaZamorska & Partners LLCSergiy ZhekaChadbourne & Parke LLPUnited ArabEmiratesAllen & Overy LLPTaleb Abdel Karim JafarDubai MunicipalityDaoud Abdel RahmanAl-HajriDubai MunicipalityMohamed Ahmed SalehDubai MunicipalityMahmood Al BastakiDubai TradeRasha Al SaeedBaker Botts LLPSaeed Al-HamizCentral BankAshraf AliGolden Building MaterialsTradingSaaran AlshammariJubail PearlKhaled AminShalakany Law Office,member of Lex MundiAli AwaisBaker Botts LLPJennifer BibbingsTrowers & HamlinsSalmeen Dahi Bin SalmeenDubai MunicipalityLisa DaleAl Tamimi & Co.Precilla D’SouzaAl Tamimi & Co.Sydene HelwickAl Tamimi & Co.Zaid KamhawiEmcreditManijeh KhanShalakany Law Office,member of Lex MundiSuneer KumarAl Suwaidi & Co.Ravi KumarDubai TradeJohn KunjappanMaersk LineMohamed MahmoodMashroomDubai MunicipalityKhulood ObaidYasser OmarShalakany Law Office,member of Lex MundiIqbal PedhiwalaSilk Bridge Trading EstHenrik PetersenMaersk Kanoo LLCDean RolfePricewaterhouseCoopersLuke SajanDamcoMunir SubohAbu-Ghazaleh LegalNeil TaylorMariel YardPricewaterhouseCoopersNatasha ZahidBaker Botts LLPUnited KingdomAllen & Overy LLPKon AsimacopoulosKirkland & Ellis LLPJon AtkeyHer Majesty’s LandRegistryNick BenwellSimmons & SimmonsGeorgie BlythPricewaterhouseCoopersLegal Services LLPBecky BormanPricewaterhouseCoopersTechia BraveboyCleary Gottlieb Steen &Hamilton LLP(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 193Penny BrucePricewaterhouseCoopersLegal LLPRichard Collier-KeywoodPricewaterhouseCoopersSimon CooksonAshurstLaura CramAshurstDavid CrosthwaiteDavis Langdon LLPShreya DamodaranCleary Gottlieb Steen &Hamilton LLPKirsten DettmanlSimmons & SimmonsAaron EspinCleary Gottlieb Steen &Hamilton LLPNick FrancisPricewaterhouseCoopersPaul GilbertFiners Stephens InnocentLLPHelen GortySimmons & SimmonsLynn HiestandSkadden, Arps, Slate,Meagher & FlomNeville HowlettPricewaterhouseCoopersStefano IacomelliIosto InternationalServices LTDSimon JayCleary Gottlieb Steen &Hamilton LLPNistha Jeram-DavePricewaterhouseCoopersLegal LLPTam JohnAddison Technology LtdGillian Key-ViceExperian Ltd.Shinoj KoshyCleary Gottlieb Steen &Hamilton LLPKwame AsamoahHW CharteredAccountantsKristi LehtisSimmons & SimmonsEmma MalkinWeil, Gotshal & MangesChristopher MallonSkadden, Arps, Slate,Meagher & FlomCharles MayoSimmons & SimmonsDavid McCulloghTPS ConsultancyJohn MeadowsHM Land Registry,England & WalesAlison MurrinAshurstLyndon NorleyKirkland & Ellis LLPOludare OmoyayiConjor Investment Ltd.Fiona PattersonSimmons & SimmonsChristian PilkingtonSkadden, Arps, Slate,Meagher & FlomSecurity Foiling LimitedAndrew ShutterCleary Gottlieb Steen &Hamilton LLPKatherine StonesWeil, Gotshal & MangesLance TerryGlanvilles SolicitorsPaul TimminsApproved InspectorServices LimitedAndrew van der LemBetter RegulationExecutiveMaria-Eleni VlachakouPricewaterhouseCoopersSally WillcockWeil, Gotshal & MangesUnited StatesStephen AndersonPricewaterhouseCoopersBirute AwasthiCompetent AmerindeConsolidatedAsheet AwasthiFortune Law GroupLuke A. BarefootCleary Gottlieb Steen &Hamilton LLPDonald BernsteinWalter BobadillaAgouti ConstructionConsulting, LLC.Agne CeskeviciuteFortune Law GroupVictor ChiuCleary Gottlieb Steen &Hamilton LLPRichard ConzaCleary Gottlieb Steen &Hamilton LLPJean Pierre de NesBollore – SDVJoshua L. DitelbergSeyfarth Shaw LLPLindsay DunnCraig EiseleTrans-AfricanDevelopment Strategies,L.L.C.Julija GecaiteCompetent AmerindeConsolidatedBenjamin E. GehrtSeyfarth Shaw LLPLindsee P. GranfieldCleary Gottlieb Steen &Hamilton LLPSteven HorowitzCleary Gottlieb Steen &Hamilton LLPMonika KnyzelyteFortune Law GroupArthur KohnCleary Gottlieb Steen &Hamilton LLPAzniv KsachikyanOrrick, Herrington &Sutcliffe LLPFiana KwasnikCleary Gottlieb Steen &Hamilton LLPMichael LazerwitzCleary Gottlieb Steen &Hamilton LLPBradford L. LivingstonSeyfarth Shaw LLPColin LloydCleary Gottlieb Steen &Hamilton LLPPaul MarquardtCleary Gottlieb Steen &Hamilton LLPKaren MonroeSiller Wilk LLPRobert MorrisPricewaterhouseCoopersKelly J. MurrayPricewaterhouseCoopersPhilippe A. NaudinSDVSamuel NolenRichards, Layton & Finger,P.A., member of Lex MundiSean O’NealCleary Gottlieb Steen &Hamilton LLPJeffrey PennCleary Gottlieb Steen &Hamilton LLPMaria PriezzhevaOrrick Herrington &Sutcliffe LLPStephen RaslavichUnited States BankruptcyCourtSandra RocksCleary Gottlieb Steen &Hamilton LLPOlga SirodoevaOrrick Herrington &Sutcliffe LLPCatharine SlackDavid SnyderSnyder & Snyder, LLPMy Chi ToDebevoise & Plimpton LLPFrederick TurnerSnyder & Snyder, LLPMikhail UsubyanOrrick, Herrington &Sutcliffe LLPPenny VaughnPricewaterhouseCoopersKaren WagnerUruguayBernardo AmorínOlivera & DelpiazzoJonás BergsteinEstudio BergsteinCorina BoveGuyer & Regules, memberof Lex MundiCarlos BrandesGuyer & Regules, memberof Lex MundiNicolas BrauseJiménez de Aréchaga, Viana& BrauseVirginia BrauseJiménez de Aréchaga, Viana& BrauseJorge De VitaJorge de Vita StudioLeonardo DecarliniPricewaterhouseCoopersMaría DuránHughes & HughesNoelia EirasHughes & HughesGabriel EjgenbergEstudio BergsteinFabrizio FavaPanalpina WorldTransport LtdMarcelo Femenías VidalBado, Kuster, Zerbino &RachettiAgustina FernádezGiambrunoGuyer & Regules, memberof Lex MundiJavier Fernández ZerbinoBado, Kuster, Zerbino &RachettiJuan Federico FischerLVM Attorneys at LawFederico FormenLVM Attorneys at LawSergio FrancoPricewaterhouseCoopersNelson Alfredo GonzalesSDV S.A.Gabriela GutierrezEstudio BergsteinAriel ImkenSuperintendenciade Instituciones deIntermediación Financiera- Banco Central delUruguayAlfredo Inciarte BlancoEstudio Pérez del Castillo,Inciarte, Gari AbogadosAlma KubachekEstudio Juridico Notarialde Alma KubachekRicardo MezzeraEstudio Dr. MezzeraAlejandro Miller ArtolaGuyer & Regules, memberof Lex MundiMatias MorgareSDV S.A.Luis MuxiLVM Attorneys at LawJuan Martín OliveraOlivera & DelpiazzoMaría Concepción OliveraOlivera & DelpiazzoRicardo Olivera-GarcíaOlivera & DelpiazzoGabriel PedroPricewaterhouseCoopersJuan Pablo PesceConatel S.A.Ismael Pignatta SánchezGuyer & Regules, memberof Lex MundiMaría José PoeyGuyer & Regules, memberof Lex MundiVerónica RaffoFerrere AttorneysAejandro Rey Jiménez deAréchagaGuyer & Regules, memberof Lex MundiMaría Noel RiotortoGuyer & Regules, memberof Lex MundiAnalía RodríguezBanco CentralAgustina RodríguezFerrere AttorneysMonica SantosOlivera & DelpiazzoJuan TroccoliLVM Attorneys-at-LawGerardo ViñolesVinoles StudioAlexandra WeiszDovat, Carriquiry &AsociadosUzbekistanJakhongir AbdurazaqovAvent AdvocatRimat AchmedshinFidesMels AkhmedovBASDildar M. AlimbekovaBusiness Women’sAssociation of UzbekistanUmid AripdjanovGrata Law FirmNelly DjurabaevaM&MKhalid FarooqGlobalink Logistics GroupIrina GostevaDenton Wilde SapteNail HassanovLaw Firm Leges AdvokatRustam IkramovHimoya Law OfficeMansurkhon KamalovForeign Enterprise ofHuawei Tech Investment ofTashkentMouborak KambarovaDenton Wilde SapteBabur KarimovGrata Law FirmKhurshid KasimdzhanovM&M LogisticsNurali EshibaevichKhalmuratovCentral BankZafar KhashimovAnglesey FoodArif NasibovIFCVera NiAnglesey FoodMalika NorovaGrata Law FirmVsevolod PayevskiyIFCPricewaterhouseCoopersLaziza RakhimovaGrata Law Firm(c) The International Bank for Reconstruction and Development / The World Bank

194 Doing Business 2009Valeria SamborskayaNational Centre ofGeodesy & CartographyAlexander SamborskyNational Centre ofGeodesy & CartographySofiya ShaikhraziyevaGrata Law FirmNizomiddin ShakhabutdinovLaw Firm Leges AdvokatAlisher ShaykhovChamber of Commerce andIndustryAlishev ShurkurlaevBerad Group Co.Petros TsakanyanAzizov & PartnersIhtiyorjon TuraboyevIFCRafael ValyulinGeneral MotorsVanuatuChristopher DawsonDawson BuildersExpress Customs ServicesLtd.David HudsonHudson & SugdenMark StaffordBDO Barrett & PartnersDani YawaPacific LawyersVenezuelaJorge Acedo-PratoHoet Pelaez Castillo &Duque, member of LexMundiJuan Enrique AigsterHoet Pelaez Castillo &Duque, member of LexMundiServio T. Altuve Jr.Servio T. Altuve R. &AsociadosCarlos Bachrich NagyDe Sola Pate & Brown,Abogados - ConsultoresMercedes BriceñoCONAPRIDiego CastagninoHoet Pelaez Castillo &Duque, member of LexMundiLubín ChacónBenson, Perez Matos,Antakly & WattsMaría Paola D´OnghiaHoet Pelaez Castillo &Duque, member of LexMundiArturo De Sola LanderDe Sola Pate & Brown,Abogados - ConsultoresCarlos Domínguez HernándezHoet Pelaez Castillo &Duque, member of LexMundiJose FereiraRodriguez & MendozaFrancisco Gámez ArcayaGámez & Vera AbogadosAlejandro GiolitoPricewaterhouseCoopersRuben GottbergPricewaterhouseCoopersJose GuerraPricewaterhouseCoopersMaigualida IfillPricewaterhouseCoopersEnrique ItriagoRodriguez & MendozaLorena Mingarelli LozziDe Sola Pate & Brown,Abogados - ConsultoresFernando MirandaPricewaterhouseCoopersFernando MirandaPricewaterhouseCoopersLegal ServicesBruno ParedesLogistika TSMJohn R. PateDe Sola Pate & Brown,Abogados - ConsultoresBernardo PisaniRodriguez & MendozaEduardo PorcarelliCONAPRIMelissa Puga SantaellaCONAPRILaura Silva AparicioHoet Pelaez Castillo &Duque, member of LexMundiJohn TuckerHoet Pelaez Castillo &Duque, member of LexMundiVietnamVuong Kim AnhHoa Binh Chinh Phuc DinhCaoA.T.A Architects Co. LtdNicolas AudierGide Loyrette NouelNguyen Xuan BangDescon ConstructionCorporationTam BuOrrick, Herrington &Sutcliffe LLPAnne-Lise ChatelainGide Loyrette NouelDaniel ChernovDFDL MekongGiles Thomas CooperDuane Morris LLCAnna CravenFreshfields BruckhausDeringerTrong Hieu DangVision & AssociatesNguyen Dang VietBizconsultMinh DayOrrick, Herrington &Sutcliffe LLPDang The DucIndochine CounselMinh DuongAllens Arthur RobinsonTieng Thu DuongVision & AssociatesJohn FarmerOrrick, Herrington &Sutcliffe, LLPDavid FitzgeraldPricewaterhouseCoopersAlbert FranceskinjDS AvocatsGiang Ha Thi PhuongPricewaterhouseCoopersPham HanhDuane Morris LLCLe Hong PhongBizconsultLê Thj Hônh HaiHoa Binh Chinh Phuc DinhCaoKonrad HullLucy Wayne & AssociatesTuong Long HuynhGide Loyrette NouelEtienne LaumonierGide Loyrette NouelKevin LeCity Ocean Logistics Co.,Ltd.Cong Dinh LeDC LawViet Hai LeHoa Binh Chinh Phuc DinhCaoNguyen Huy Thuy LeIndochine CounselTruan Chien LeNovapro & AssociatesThi Loc LeYKVN LawyersThuy Anh Le PhanKevin Lê Viêt HáCity Ocean Logistics Co.,Ltd.Tien Ngoc LuuVision & AssociatesHoang Minh DucDuane Morris LLCMichelle MobleyFreshfields BruckhausDeringerHoang Kim Oanh NguyenBaker & McKenzieLinh Chi NguyenBaker & McKenzieTran Van Quynh NguyenBaker & McKenzieNgoc Bich NguyenDC LawCong To NguyenGide Loyrette NouelBien NguyenHoai Trung Tea CompanyPhan Manh Long NguyenHung & PartnersThi Xuan Trinh NguyenLucy Wayne & AssociatesDao NguyenMayer Brown JSMVan Anh NguyenVietbid Law FirmLinh D. NguyenVILAF - Hong Duc Law FirmTram Nguyen – HuyenGide Loyrette NouelTuan Nguyen AnhDP Consulting LtdPanalpinaBac Pham Nghiem XuanVision & AssociatesAnh Vu PhanIndochine CounselDinh Thi Quynh VanPricewaterhouseCoopersIsabelle RobineauDFDL Mekong Law GroupNguyen ThangVietcombank (Bank ofForeign Trade of Vietnam)Pham Thi Thanh HuyenIndochine CounselNguyen Thi Thu HuyenGide Loyrette NouelNhung Thieu HongPricewaterhouseCoopersNgo Quanc ThuyDuane Morris LLCTan Heng ThyeChen Shan & PartnersTrung TranMayer Brown JSMLan TranOrrick, Herrington &Sutcliffe LLPHai Tran ThanhPBC PartnersNam Hoai TruongIndochine CounselRobert VernonVietnam Consultants LtdNguyen Thu Thuy VoSDV Ltd.Tuyêt Hanh Vō ThiChen Shan & PartnersThu Hang VuBaker & McKenzieTrang VuCredit Information Centre- State Bank of VietnamDzung VuYKVN LawyersBenjamin YapKelvin Chia PartnershipWest Bank andGazaNidal Abu LawiPalestine Real EstateInvestment Co.Amal AbujaberPalestinian MonetaryAuthoritySafwan Al-NatherGerman TechnicalCooperationSharhabeel Al-ZaeemSharhabeel Al-Zaeem andAssociatesHaytham L. Al-Zu’biAl-Zu’bi Law Office,Advocates & LegalConsultantsMohammed AmarnehLegal Aid& Human RightscoordinatorMoyad AmouriPricewaterhouseCoopersKhalil AnsaraCatholic Relief ServicesNizam AyoobMinistry of NationalEconomyAli FarounPalestinian MonetaryAuthorityAli HamoudehJerusalem DistrictElectricity Co. Ltd.Samir HuleilehPADICOHiba HusseiniHusseini & HusseiniFadi KattanTransjordanianEngineering Ltd.Mohamed KhaderLausanne TradingConsultantsWadee NofalNofal Law firmSamer OdehLand RegistrationMichael F. OrfalyPricewaterhouseCoopersAli SaffariniSaffarinin Law firmMaha SbeihMinistry of NationalEconomyKarim Fuad ShehadehA.F. & R. Shehadeh LawOfficeRamzi SkakiniSkakini FirmSamer TammamTammam TradeHisham ZiadPalestinian MonetaryAuthorityYemenAbdulalah A. Al karrazLands & SurveyingAuthorityQusai AbdallaAbdalla Al-Meqbeli &AssociatesWalaa AbdallaAbdalla Al-Meqbeli &AssociatesMohamed Taha HamoodAl-HashimiMohamed Taha Hamood& Co.Louai Al-MeqbeliAbdalla Al-Meqbali &AssociatesAbdalla Al-MeqbeliAbdalla Al-Meqbeli &AssociatesAlaa Al-MeqbeliAbdalla Al-Meqbeli &AssociatesMohamed Hamoud BaiderIFC(c) The International Bank for Reconstruction and Development / The World Bank

Acknowledgments 195Randall CameronMejanni, Hazem Hassan &Co. KPMGNowar M. MejanniMejanni, Hazem Hassan &Co. KPMGZayed Mohammed BudierLands & SurveyingAuthoritySanjay PrajapapiRatco for Trading &ServicesMayad Saeed Abdullah YafaiIFCZambiaShaira AdamaliPricewaterhouseCoopersPeter ArmondCredit Reference BureauAfrica LimitedCandice ArnoldGlobal LogisticsJim BarnhartUSAIDDeborah BwalyaCorpus Globe AdvocatesChewe K. BwalyaD.H. Kemp & Co.Anthony BwembyaPACROFelix ChabalaEnvironmental Council ofZambiaBonaventure ChibambaMutaleEllis & Co.Mwelwa ChibesakundaChibesakunda & Co./ DLAPiperElias ChipimoCorpus Globe AdvocatesSteven ChisengaCorpus Globe AdvocatesEmmanuel ChuluPricewaterhouseCoopersDavid DoyleManica LtdArshad A DudhiaMusa DudhiaRobin DurairajahChibesakunda & Co./ DLAPiperKarl FrickSDVAllan GarrawayZambia Customs andForwarding AgentsAssociationPassmore HamukomaZambia Business ForumJames HarleyPricewaterhouseCoopersEdgar HamuweleGrant ThorntonGrant HendersonChibesakunda & Co./ DLAPiperAndrew HowardSharpe Howard & MwenyeJacqueline JhataCorpus Globe AdvocatesChance KaongaNational Council forConstructionHarriet Kapampa KapekeleCorpus Globe AdvocatesCalvin KasandaMinistry of Commerce,Trade and IndustryMutale KasondePixie Kasonde-YangailoP.H. Yangailo & Co.Chipepo KasumpaZambia Business ForumAnila KuntawalaCeltic FreightYogesh KuntawalaCeltic FreightKim LeneveuAGS FrasersWalusiku LisuloLisulo + BwalyaAlexander LwatulaBarclays BankClyde MbazimaChibesakunda & Co./ DLAPiperBonaventure MbeweBarclays BankJyoti MistryPricewaterhouseCoopersMwape MondolokaBarclays BankPriscilla MoyoGlobal LogisticsBarnaby B. MulengaMinistry of LandChipo MunkombwePricewaterhouseCoopersHenry MusondaKiran & MusondaAssociatesMakungo MuyembeMinistry of LaborTeddie MwaleZESCO LtdFrancis MwapeNational Council forConstructionShupi MweeneMinistry of Commerce,Trade and IndustryMarjorie Grace MwendaM.G. Johnson-Mwenda& Co.Kanti PatelChristopher, Russell Cook& Co.Solly PatelChristopher, Russell Cook& Co.Aleksandar PerunicicSDVMiriam SabiZRA- Customer ServiceCenterMabvuto SakalaCorpus Globe AdvocatesValerie SesiaCustomized Clearing AndForwarding Ltd.Nicole Sharpe-PhiriSharpe Howard & MwenyeKim ShelsbyZambia Threshold ProjectKayula SiameMinistry of Commerce,Trade and IndustryJason VillarUSAIDAlbert M. WoodAlbert M Wood & Co.ZimbabweGulshen AfridiSDVMark BadenhorstPricewaterhouseCoopersRichard BeattieThe Stone/ Beattie StudioInnocent ChagondaAtherstone & CookPaul De ChalainPricewaterhouseCoopersBeloved DhlakamaByron Venturas & PartnersHarry KantorKantor & ImmermanPeter LloydGill, Godlonton & GerransManuel LopesPricewaterhouseCoopersJoão MartinsPricewaterhouseCoopersJim McComishPearce McComishArchitectsSternford MoyoScanlen & HoldernessOstern MuteroSawyer & MkushiVanani NyanguluV.S. Nyangulu & AssociatesMalaika RibeiroPricewaterhouseCoopersUnity SakheKantor & Immerman(c) The International Bank for Reconstruction and Development / The World Bank

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