In the World Bank "Doing Business 2018", Lithuania is ranked 16th and is among the most favored nations in the 20th among 190 countries. Compared to 2017, Lithuania has improved its position in 5 places - last year it was 21st.
Among the European Union member states, our country ranks 6th bypassing countries such as Ireland (17th place), Latvia (19th place), Germany (20th place).
The World Bank, in assessing the progress of the countries in terms of the ten indicators, acknowledged that Lithuania implemented positive reforms in four areas during the evaluation period: obtaining building permits, connecting to electricity networks, protecting small investors and paying taxes. In the European and Central Asian region, Lithuania is second in terms of the number of reforms implemented to improve business conditions.
In the area of small investor protection, the World Bank has recognized one major reform - Lithuania has increased transparency in companies.
Lithuania has the highest ranking in terms of the world's business environment rating in the field of property registration (3rd place), also occupying the 4th place in the world ranking of business conditions in the field of contract enforcement, and the court process index has improved.
The biggest breakthrough this year - the rise of 22 positions - was achieved in the area of connection to the power grid, where Lithuania has risen from 55 to 33. The Ministry of Energy has simplified the process of connecting the consumers of electrical equipment to the electricity grids, and now, when new users sign a connection service agreement with the distribution network operator, they receive both the development of the network design and the network connection service. In addition, the National Control Commission for Prices and Energy reduced the cost of connecting new customers to electricity networks, reducing the cost of connecting to electricity networks.
The rise in "Doing Business 2018" overall has contributed significantly to the reform of tax payments - the World Bank has estimated that the electronic tax filing and payment system helped the medium-sized enterprise to reduce VAT, corporate income tax and social security contributions by 61.7 hours (36%) declaration and payment time. This information technology solution helped Lithuania rise from the 27th to the 18th place.
2018 Doing Business: 1st place - New Zealand, 2nd place - Singapore, 3rd place - Denmark, 4th place - P. Korea, 5th place - Hong Kong (China), 6th place - United States, 7th place - United Kingdom, 8th place place - Norway, 9th place - Georgia, 10th place - Sweden, 11th place - Macedonia, 12th place - Estonia, 13th place - Finland, 14th place - Australia, 15th place - Taiwan (China), 16th place - Lithuania, 17th place - Ireland, 18th place - Canada, 19th place - Latvia, 20th place - Germany.