POSLOVNO OKRUŽENJE U ZEMLJAMA ZAPADNOG BALKANA – BUSINESS ENVIRONMENT IN THE WESTERN BALKAN COUNTRIES – A FACTOR FOR FASTER ACCESSION TO THE EUROPEAN UNION

Abstract

The paper presents the research of the economies and business environment of the countries of the Western Balkans, as well as the problems they encounter. The aim of the research is to define measures for providing a more favorable business environment and faster development. The results of the survey show that the business environment in the countries of the Western Balkans is still not stimulating, which adversely affects the rate of economic growth. According to the Doing Business Report of World Bank, BiH is the worst ranked country in the region in terms of business environment (125 out of 180 countries). The authors cite the assumption that it is possible to significantly accelerate the economic growth of the countries of the Western Balkans, with a special accent on BiH. In this respect, it points to the need for regulatory reforms, introduction of tax reliefs and other incentive measures that would encourage potential investments and domestic entrepreneurs. The paper proposes measures, including regulatory reforms, introduction of tax reliefs for effective incentives of state institutions, educated workforce, quality infrastructure and access to finances.