Montenegro ranks 74th on Forbes Best Countries for Business list
30.03.2009
Forbes has released its fourth annual Best Countries for Business ranking list with Montenegro taking 74th spot. The Forbes rankings take a look at business conditions in 127 economies. The list gives an indication of the countries which are in a much better position than others to rebound from the current malaise by attracting entrepreneurs, investors and workers.
According to Forbes, unemployment and regional disparities in development are key political and economic problems. Forbes noted that Montenegro has privatized its large aluminum complex as well as most of its financial sector, and has begun to attract foreign direct investment in the tourism sector. It added that the global financial crisis is likely to have a significant negative impact on the economy.
Montenegro has done best in the area of technology (No.40) and monetary freedoms (No.41), and worst in the area of property rights (No.92) and tax burden (No.95). For the innovation criteria Montenegro ranks 83rd, investor protection and corruption 71st, personal freedom 66th and trade freedom 62nd.
Countries from the region with higher rankings include Slovenia (No. 36), Croatia (No. 50) and Macedonia (No. 51), while Albania (No. 71), Serbia (No. 82) and Bosnia and Herzegovina (No. 119) have lower rankings.
Denmark, for a second straight year, takes the No. 1 spot, the US is No. 2, Canada No. 3, Singapore No. 4 and New Zealand is at No. 5.
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