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LTRK: ALL PREVIOUS PROBLEMS STILL FOUND IN THE LATEST "DOING BUSINESS” RANKING

Doing Business

Even though the plan for improving the business environment is being elaborated since 1999, the latest "Doing Business” ranking revealed that Latvia has retained the 19th place, meaning that all the problems established earlier are still topical and keep challenging entrepreneurs.

The largest association of Latvian entrepreneurs, the Latvian Chamber of Commerce and Industry, has arrived to this conclusion, when reading the latest "Doing Business” ranking where the same areas as in previous years have been rated as the worst — a possibility to create new electricity connection (61st place), receiving of construction permits (56th place), insolvency proceedings (55th place) and protection of minority shareholders (45th place).

"For many years we have been talking about the same problems that are not being solved. That is noticed not only by us as, the local entrepreneurs, but also the entire world, including potential investors, therefore there is no way to say that we are contented with such ranking,” the president of LTRK, Aigars Rostovskis, comments adding that the in-depth assessment of Latvia shows also other problems, for example, disproportionally high number of hours that takes to pay taxes, and this number continues growing, so that one of goals of tax reform was to reduce the administrative burden.