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Ministria e Tregtisë dhe Industrisë
Ministarstvo Trgovine i Industrije
Ministry of Trade and Industry
BASIC PERFORMANCE INDICATORS FOR
BUSINESS REGISTRATION IN KOSOVO
KOSOVO BUSINESS REGISTRATION AGENCY
OCTOBER 2016
CONTENTS
1. INTRODUCTION ............................................................................................................................. 3
II. AVERAGE DAYS TO REGISTER A BUSINESS ........................................................................... 4
III. AVERAGE DAYS TO REGISTER AN LLC .................................................................................. 6
IV. BUSINESS REGISTRATION TIME BY REGISTRATION CENTER ....................................... 7
V. REGISTRATION BY LEGAL FORM OF BUSINESS ORGANIZATION .............................. 8
VI. DEREGISTERED BUSINESS ORGANIZATIONS ................................................................... 10
VII. REGISTRATION OF BRANCHES OF FOREIGN COMPANIES BY COUNTRY OF
ORIGIN .......................................................................................................................................... 12
VIII. REGISTRATION OF BUSINESS ORGANIZATIONS BY GENDER ................................ 14
IX. CONCLUSION .............................................................................................................................. 16
3
1. INTRODUCTION
This report is a result of joint assessment conducted in the first half of 2016 by the Kosovo Business
Registration Agency (hereinafter “KBRA”) with the support of the USAID Partnerships for
Development Project (hereinafter “USAID PFD”) of a number of performance indicators related to
the business registration process in Kosovo, conducted in accordance with the Law on Business
Organizations.
This activity flows from the analysis of the Starting a Business Indicator of the World Bank Doing
Business Report, conducted as part of the doing business reforms launched by the Government of
Kosovo in December 2015. The development of this report was specified as one of the short-term
measures in the reform memorandum for the Starting a Business Indicator, developed by the Ministry
of Trade and Industry.
During this period, a joint team composed of KBRA officials and USAID PFD advisers analyzed a
range of indicators related to the performance of KBRA, including:
Times of business registration both generally and by municipality;
Total number of businesses registered by legal form and by municipality;
Total number of businesses deregistered by business form and by municipality;
Total number of branches of foreign companies registered by country of origin;
Total number of women participating (as partners or shareholders) in Kosovo business
organizations, and
Total number of women owned individual businesses.
USAID, through its current USAID Partnerships for Development Project, as well as previous
projects has continuously supported MTI and KBRA through legal improvements, staff training,
capacity building and other activities aimed at improving the business registration process. These
activities have contributed to the considerable reduction of the time required for business
registration and the elimination of steps in the business registration process, as reflected in the
World Bank’s Doing Business Report where Kosovo’s rank increased by 117 places since 2010
(from 164th in the world in 2010 to 47th, in the world in 2016).
Another purpose of this report is to initiate what is expected to become a regular assessment
process of the performance of the KBRA central office and municipal registration centers and to
inform decision-making aimed at further improving the business registration process which is an
ongoing process that has so far resulted in decreasing the cost of registration, decreasing the time
for registration and eliminating unnecessary barriers for registering a business.
As the business registration process progresses towards full electronic registration, it is expected
that the number of indicators and the quality of the data will be increased and reflected in
subsequent reports.
This report analyses data extracted from the business registry of KBRA on businesses required by
specific laws in Kosovo to be registered at KBRA. According to the Law on Business Organizations
the process of registration of business organizations in Kosovo is a formal, administrative and
informative act. Consequently, this report does not make any assumptions or provide any
information on the number of business organizations which are active and operating in Kosovo and
focuses instead only on business organizations registered or de-registered at KBRA. To obtain a
clearer picture of the number, size and operational status of business organizations and other
economic entities engaged in economic activity in Kosovo would require a more comprehensive
4
effort involving other Government institutions, including primarily the Tax Administration of Kosovo
and Ministry of Public Administration.
According to the Law on Business Organizations and other applicable laws, KBRA currently registers
the following legal forms of business organizations: Individual Business, General Partnership, Limited
Partnership, Limited Liability Companies, Joint Stock Companies, Branches of Foreign Companies
and Agricultural Cooperatives.
For the purposes of this report, days have been calculated based on the measurement of calendar
days, and the report measures data collected and processed until June 30th, 2016. The report uses
the following time periods for the assessment:
Time periods of assessment
The time required for registration 1) January 1st 2010 – June 30th 2016
2) January 1st 2016 – June 30th 2016
The total number of registration and deregistration 1) January 1st 2003 – June 30th 2016
2) September 1999 – June 30th 2016
The total number of branches of foreign companies
registered in Kosovo 1) September 1999 – June 30th 2016
The total number of women as individual owners or
their participation as partners or shareholders in
partnerships or corporations
2) 2nd half of 2012 – June 30th 2016
The variance in the time periods assessed was needed to maintain data accuracy or due to data
availability, e.g KBRA only began collecting gender data in the second half of 2012.
II. AVERAGE DAYS TO REGISTER A BUSINESS
Business organizations as defined in the Law on Business Organizations are required to register at
KBRA central office in Pristina or in one of the 28 municipal business registration centers across
Kosovo. This section of the report measures the number of days needed to register a business
organization.
Chart I presents an overall view of the average time required to register a business organization
during the period January 1st, 2010 to June 30th, 2016 and presents a total average based on
registration of all legal forms of business organizations despite large variances in the time required
for the registration of the various types, e.g the time required for registering an Individual Business is
considerably shorter than the time required for registering a Joint Stock Company.
As can be seen in Chart 1 below, from January 1st, 2010 until June 30th, 2016, the average number of
days needed to register a business in Kosovo decreased from 2.92 to 2.28 days, which represents a
21.92 % improvement in time required for registering a business organization during this period.
5
Chart 1: Average days to register a business organization January 1st 2010 – June 30th 2016:
The doted red line shows the year when KBRA started to issue fiscal number for business
organizations at KBRA offices together with the business registration certificate. Before 2012, the
Tax Administration of Kosovo issued this number.
Furthermore, Chart 2 below shows that in just six months from January 1st, 2016 until June 30th,
2016, the average number of days needed to register a business in Kosovo decreased from an
average of 2.56 to 1.59 days, which represents a 37.89 % improvement in time required for
registering a business organization during this period.
Chart 2: Average days to register a business organization January 1st, 2016 – June 30th, 2016:
2.56
2.572.59
2.21
2.04
1.59
0
0.5
1
1.5
2
2.5
3
3.5
4
Jan Feb Mar Apr May Jun
Day
s
2.92 2.74
2.36 2.18
2.55 2.53
2.28
-
0.50
1.00
1.50
2.00
2.50
3.00
3.50
2010 2011 2012 2013 2014 2015 2016
Day
s
6
III. AVERAGE DAYS TO REGISTER AN LLC
As the most common corporate form, this section of the report analyzes the time required to
register a Limited Liability Company (LLC). Chart 3 below shows that from January 1st, 2010 until
June 30th, 2016, the average number of days needed to register a business in Kosovo decreased from
an average of 6.71 to 3.05 days, which represents a 54.54% improvement in time required for
registering an LLC for this period.
Chart 3: Average Days to Register an LLC in 2010 – 2016:
The doted red line shows the year when KBRA started to issue fiscal number for business
organizations at KBRA offices together with the business registration certificate. Before 2012, the
Tax Administration of Kosovo issued this number.
Furthermore, Chart 4 below shows that in just six months from January 1st 2016 until June 30th
2016, the average number of days to register an LLC decreased from an average of 3.80 to 1.95
days, which represents a 48.68% improvement in time required for registering an LLC during this
period.
Chart 4: Average days to register an LLC January 1st, 2016 – June 30th, 2016:
6.71
5.85
4.50 4.08 3.99 3.94
3.05
-
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
2010 2011 2012 2013 2014 2015 2016
Day
s
7
IV. BUSINESS REGISTRATION TIME BY REGISTRATION
CENTER
Table 1 below shows the average number of days needed to register a business organization by
municipal business registration center during the period from January 1st, 2010 until June 30th, 2016.
The table displayed below includes 28 municipal business registration centers and KBRA central
office which also covers Pristina and Obiliq/ć municipalities.
Dragash/š is the municipal business registration center with the best performance in terms of the
days needed to register a business organization during this period, followed by Istog/k, Peja/Peč,
Viti/Vitina and Klinë/a.
Table 1: Average days to register a business organization by Business Registration Center January 1st, 2010 –
2016:
Municipality 2010 2011 2012 2013 2014 2015 2016 Average
Deqan/Dečane 2.41 2.22 2.55 2.43 5.35 2.86 1.89 2.84
Dragash/š 3.75 1.59 1.32 1.17 1.39 2.17 1.80 1.83
Ferizaj/Uroševac 2.53 3.03 2.79 2.48 2.57 2.20 2.08 2.55
Fushë Kosovë/Kosovo
Polje 3.30 2.64 2.14 2.35 2.41 3.33 2.68 2.68
Gjakova/Ðjakovica 3.00 2.13 2.24 1.90 2.29 2.13 2.04 2.25
Gjilan/Gnjilane 2.40 1.95 1.57 1.52 2.00 2.16 2.31 1.97
Gllogoc/Glogovac 2.17 1.98 2.12 1.60 2.55 1.97 1.78 2.03
Graqanicë/Gračanica 4.58 4.91 2.36 2.38 3.09 2.78 2.58 2.85
Hani i Elezit 5.00 1.00 3.00 2.67 7.17 2.98 2.44 3.49
Istog/k 2.18 1.53 1.60 1.48 2.12 2.15 2.16 1.88
Kaqanik/Kačanik 1.82 2.03 1.77 1.60 2.55 2.42 3.38 2.11
Kamenicë/a 2.48 2.04 2.22 1.52 1.70 2.24 2.07 2.02
Klinë/a 2.96 2.72 1.88 1.54 1.73 1.91 1.41 1.96
Lipjan 2.91 2.23 2.33 1.88 2.23 2.17 1.85 2.23
3.80
3.36 3.49
3.18
2.51
1.95
-
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
Jan Feb Mar Apr May Jun
Day
s
8
Malishevë/Mališevo 2.64 3.91 1.99 1.54 2.55 3.45 2.15 2.63
Mitrovicë 2.57 2.54 2.79 1.60 1.90 1.74 1.68 2.13
North Mitrovica 2.36 2.78 2.48 6.83 4.62 3.33 1.92 3.69
Novo Brdo/Novobërdë 2.00 2.93 3.16 3.76 4.30 3.69 5.38 3.73
Peja/Peć 2.89 2.25 1.55 1.31 2.00 1.78 1.91 1.92
Podujevë/o 4.13 2.64 2.05 1.45 2.01 1.70 1.51 2.07
Pristina 3.43 3.29 2.80 3.00 2.83 3.32 3.06 3.09
Prizren 2.55 2.84 2.19 1.68 2.02 2.01 1.69 2.17
Rahovec/Orahovac 3.28 3.27 2.89 1.82 2.47 1.67 1.53 2.44
Štrpce/Shëtrpce 4.04 4.39 2.46 2.60 2.69 4.93 2.70 3.27
Shtime/Štimlje 2.09 2.09 2.32 2.80 2.34 1.82 1.94 2.21
Skenderaj/Srbica 2.57 2.62 1.73 1.52 2.27 2.91 2.19 2.16
Suhareka/Suva Reka 3.08 2.48 2.63 1.60 3.24 2.30 2.05 2.46
Viti/Vitina 2.21 2.42 1.83 1.35 1.88 1.99 2.40 1.93
Vushtrri/Vučitrn 2.56 2.41 2.28 2.00 2.40 2.25 2.06 2.28
*The red color indicates higher average number of days to register a business organization.
*The green color indicates small average number of days to register a business organization.
V. REGISTRATION BY LEGAL FORM OF BUSINESS
ORGANIZATION
Table 2 below presents the number of registered business organizations by legal form of business
organization and by year of registration for the period from 1999 to June 30th, 2016. This table
presents the total number of registered business organizations in a given year, it does not reflect
deregistration which are reflected in Tables 4 and 5 below. The data shows that the most registered
legal form of business organization is the Individual Business followed by the Limited Liability
Company. The least registered legal form of business is the Limited Partnership.
Table 2: Number of business organizations registered by legal form and year of registration
Year
Ind
ivid
ual
Bu
sin
ess
Gen
era
l
Part
ners
hip
s
Lim
ited
Part
ners
hip
s
Lim
ited
Lia
bilit
y
Co
mp
an
y
Join
t S
tock
Co
mp
an
y
Bra
nch
of
Fo
reig
n
Co
mp
an
y
Agri
cu
ltu
ral
Co
op
era
tive
To
tal
2003* 47,427 1,425 77 649 284 11 1 49,874
2004 11,374 258 2 745 67 34 9 12,489
2005 7,916 281 752 42 54 20 9,065
2006 5,254 247 5 792 66 50 10 6,424
2007 4,529 244 859 44 57 9 5,742
2008 6,652 314 2 952 39 82 8 8,049
2009 6,313 226 899 18 111 5 7,572
2010 6,460 209 1 1014 21 94 6 7,805
2011 6,550 203 1113 14 59 1 7,940
2012 7,930 181 2 1477 31 70 8 9,699
2013 7,373 113 1982 18 42 4 9,532
2014 7,355 91 1 2125 29 66 4 9,671
9
2015 7,385 78 2527 27 50 8 10,075
2016 1,847 14 1032 6 10 1 2,910
Total 134,365 3,884 90 16,918 706 790 94 156,847
*The total number of business organizations registered in 2003 as presented in the Table 2, includes 43,796
business organizations registered from 1999 until February 21, 2003 and 6,078 business organizations
registered from February 22, 2003 until December 31, 2003.
Table 3 presents the number of registered business organizations by legal form and by the
municipality in which the business organization has its registered address. This table presents data
for businesses registered from 1999 to June 30th, 2016.
Table 3: Number of business organizations registered by legal form and by municipality of registered address
Regis
trati
on
Cen
ter
Ind
ivid
ual
Bu
sin
ess
Gen
era
l
Part
ners
hip
s
Lim
ited
Part
ners
hip
s
Lim
ited
Lia
bilit
y
Co
mp
an
y
Join
t S
tock
Co
mp
an
y
Bra
nch
of
Fo
reig
n
Co
mp
an
y
Agri
cu
ltu
ral
Co
op
era
tive
To
tal
Deqan/Dečane 2,131 25 107 5 1 1 2,270
Dragash/š 1,333 12 29 2 6 1,382
Ferizaj/Uroševac 10,357 314 2 973 26 21 4 11,697
Fushë Kosovë/Kosovo
Polje 3,399 84 3 624 13 26 4,149
Gjakova/Ðjakovica 7,292 151 24 652 69 6 6 8,200
Gjilan/Gnjilane 8,725 175 2 767 17 22 4 9,712
Gllogoc/Glogovac 3,484 40 1 189 4 10 5 3,733
Gračanica/Graqanicë 458 14 210 5 5 2 694
Hani i Elezit 57 1 20 78
Istog/k 2,416 29 197 6 3 6 2,657
Kaqanik/Kačanik 2,518 67 3 143 3 6 3 2,743
Kamenicë/a 2,436 50 110 1 1 1 2,599
Klinë/a 2,418 42 2 104 10 2 4 2,582
Lipjan 3,720 107 2 324 4 25 2 4,184
Malishevë/Mališevo 2,127 31 118 2 4 4 2,286
Mitrovicë/a 6,666 169 1 382 63 10 1 7,292
North Mitrovica 2,654 94 6 210 19 5 4 2,992
Novo
Brdo/Novobërdë 250 4 23 277
Peja/Peč 8,434 242 6 648 15 17 3 9,365
Podujevë/o 4,567 63 2 253 5 2 2 4,894
Pristina 28,598 1,537 29 8,795 398 575 8 39,940
Prizren 12,377 305 4 919 15 31 7 13,658
Rahovec/Orahovac 2,814 49 2 229 3 4 5 3,106
Štrpce/Shtërpce 744 4 1 47 2 1 799
Shtime/Štimlje 1,652 30 104 1 5 1,792
Skenderaj/Srbica 2,452 54 98 3 1 5 2,613
10
Suharekë/Suva Reka 2,904 41 252 7 3 1 3,208
Viti/Vitina 3,344 96 190 7 6 2 3,645
Vushtrri/Vučitrn 4,038 54 201 1 4 2 4,300
Total 134,365 3,884 90 16,918 706 790 94 156,847
VI. DEREGISTERED BUSINESS ORGANIZATIONS
Table 4 presents the number of business organizations deregistered at KBRA from 1999 until June
30th, 2016 by legal form of business organization and by year of deregistration. The process of
deregistration of business organizations for the purposes of the Law on Business Organizations and
this report means deregistration of the business organization from the KBRA registry, which results
in the termination of the existence of a business organization as a separate entity. Deregistration
from the KBRA registry, in the majority of cases, is done after voluntary termination of the business
organization, but can also be mandatory, as a result of bankruptcy procedures or by court order in
accordance with applicable law. The highest number of deregistered business are Individual
Businesses with a total of 12212 Individual Businesses deregistered during this period, whereas the
second most deregistered business organization legal form is the Limited Liability Company with 452
Limited Liability Companies deregistered.
Table 4: Number of business organizations deregistered by legal form and by year of deregistration
Year
Ind
ivid
ual
Bu
sin
ess
Gen
era
l
Part
ners
hip
s
Lim
ited
Part
ners
hip
s
Lim
ited
Lia
bilit
y
Co
mp
an
y
Join
t S
tock
Co
mp
an
y
Bra
nch
of
Fo
reig
n
Co
mp
an
y
Agri
cu
ltu
ral
Co
op
era
tive
To
tal
1999-2007* 1,476 23 9 1,508
2008 652 24 15 3 5 699
2009 1,051 29 20 6 4 1,110
2010 1,324 52 78 11 3 1,468
2011 861 38 1 39 2 12 1 954
2012 1,026 39 54 3 5 1,127
2013 1,426 37 48 8 1,519
2014 1,538 45 74 4 24 1 1,686
2015 2,095 43 80 15 2,233
2016 763 10 35 4 812
Total 12,212 340 1 452 29 80 2 13,116
*The data on the total number of business organizations deregistered from 1999 – 2007, were migrated in the
KBRA database in 2007. The data in this table for year 2007 includes business organizations deregistered from
1999 to 2007.
11
Table 5 shown below, presents the number of business organizations deregistered at KBRA from
1999 to June 30th, 2016 by legal form of business organization and by municipality in which the
business organization has its registered address.
Table 5: Number of business organizations deregistered by legal form and by municipality of registered address
Regis
trati
on
Cen
ter
Ind
ivid
ual
Bu
sin
ess
Gen
era
l
Part
ners
hip
s
Lim
ited
Part
ners
hip
s
Lim
ited
Lia
bilit
y
Co
mp
an
y
Join
t S
tock
Co
mp
an
y
Bra
nch
of
Fo
reig
n
Co
mp
an
y
Agri
cu
ltu
ral
Co
op
era
tive
To
tal
Deqan/Dečane 256 2 258
Dragash/š 231 1 232
Ferizaj/Uroševac 786 21 18 3 828
Fushë Kosovë/Kosovo
Polje 271 7 17 4 299
Gjakova/Ðjakovica 820 23 29 1 873
Gjilan/Gnjilane 645 18 21 2 686
Gllogoc/Glogovac 338 2 5 1 2 348
Gračanica/Graqanicë 43 3 1 47
Hani i Elezit 6 6
Istog/k 147 2 3 152
Kaqanik/Kačanik 246 10 5 261
Kamenicë/a 210 2 3 215
Klinë/a 190 4 194
Lipjan 216 5 8 3 232
Malishevë/Mališevo 198 3 2 203
Mitrovicë/Mitrovica 720 26 7 2 755
North Mitrovica 52 1 3 1 57
Novo
Brdo/Novobërdë 8 8
Peja/Peč 939 27 8 2 3 1 980
Podujevë/o 484 6 11 501
Pristina 1,785 115 1 239 21 60 2,221
Prizren 1,425 38 41 2 1,506
Rahovec/Orahovac 201 1 6 208
Štrpce/Shtërpce 66 2 1 69
Shtime/Štimlje 130 1 131
Skenderaj/Srbica 395 7 402
Suharekë/Suva Reka 594 8 2 1 605
Viti/Vitina 181 4 2 187
Vushtrri/Vučitrn 629 10 13 652
Total 12,212 340 1 452 29 80 2 13,116
12
VII. REGISTRATION OF BRANCHES OF FOREIGN
COMPANIES BY COUNTRY OF ORIGIN
Based on the Law on Business Organizations, a foreign company is defined as any business
organization that has been duly established and is currently validly existing under the law of a
jurisdiction outside Kosovo and which may engage in business activities in Kosovo through the
registration of a branch in Kosovo at KBRA. Table 6 below shows the total number of branches of
foreign companies registered in Kosovo pursuant to the Law on Business Organizations, by country
of origin from 1999 until June 30th, 2016.
Table 6: Branches of foreign companies registered in Kosovo
Nr. Country Branches of Foreign Companies
1. Albania 168
2. Macedonia 58
3. Germany 58
4. Switzerland 51
5. Turkey 50
6. United States 38
7. Slovenia 38
8. Croatia 35
9. Italy 31
10. Serbia 19
11. Bosnia and Herzegovina 19
12. United Kingdom 19
13. Bulgaria 15
14. Austria 8
15. Greece 8
16. Montenegro 7
17. Netherlands 7
18. Hungary 7
19. France 6
20. Denmark 5
21. Sweden 5
22. Belgium 4
23. Czech Republic 4
24 Romania 3
25. Spain 3
26. Slovakia 2
27. Norway 2
13
28. Ireland 2
29. Poland 2
30. Canada 2
31. Marshall Islands 2
32. Seychelles 1
33. Kenya 1
34. Malta 1
35. Panama 1
36. Finland 1
37. Luxembourg 1
38. Bahamas 1
39. Portugal 1
40. Cyprus 1
41. Belize 1
42. Iceland 1
43. San Marino 1
44. Afghanistan 1
45. Cayman Islands 1
46. Latvia 1
47. Virgin Islands, British 1
48. Liechtenstein 1
49. Lithuania 1
Total 696
14
VIII. REGISTRATION OF BUSINESS ORGANIZATIONS
BY GENDER
The data in Charts 5 and 6 present the gender participation in business organizations registered
from the second half of 2012 until June 30th 2016, since the gender of owners, partners and
shareholder first started to be recorded at KBRA in the second half of 2012. Due to the different
nature of legal forms of business organizations, the data below is presented separately for women-
owned Individual Businesses, which usually tend to be smaller sole proprietorships and separately for
other legal forms of business organizations were women participate as partners or shareholders in a
larger or more diverse business organization.
As the most common form of business organization in Kosovo, Chart 5 below measures the
percentage of female owners in Individual Businesses. While still relatively low, the data shows an
increasing trend of registration of Individual Businesses by women.
Chart 5: Percentage of Individual Businesses by Gender
87.8% 88.9% 90.4% 86.4% 85.7%
12.2% 11.1% 9.6% 13.6% 14.3%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
2012 2013 2014 2015 2016
% M % F
15
Chart 6 reflects the percentage of partners or shareholders according to gender, in business
organizations, excluding individual businesses, registered in Kosovo. While still relatively low, the
data shows an increasing trend of participation of females as partners or shareholders.
Chart 6: Percentage of Partners and Shareholders by Gender
83.8% 82.7% 83.2% 78.2% 76.7%
16.2% 17.3% 16.8% 21.8% 23.3%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
2012 2013 2014 2015 2016
% M % F
16
IX. CONCLUSION
The Ministry of Trade and Industry, in order to further improve the efficiency of registration at
KBRA undertook a number of actions:
Initiated development, institutionalization, and regular use of performance metrics drawing
on official registration data to monitor the time across municipal registration centers for
processing of registration applications and identify best performers and most improved;
Increased focus on ensuring compliance with the Law on Business Organizations;
Deepened coordination between the Kosovo Business Registration Agency and the Tax
Administration of Kosovo to improve the process time for registration applications and
issuance of tax identification numbers at KBRA registration centers, including the
development and execution of a formal Memorandum of Understand between KBRA, TAK
and the Ministry of Public Administration for deeper and continued cooperation in February
2016. KBRA and TAK systems are fully integrated;
Conducted comprehensive customer service training programs with all KBRA and municipal
business registration staff.
The methodology used for the development of this report, is expected to be replicated by KBRA
and to result in the publication of regular performance measurement reports prepared and published
by the KBRA to inform further process improvements. USAID Partnerships for Development will
continue to support the approach until full institutionalization.
Going forward, it is also crucial that the new Draft Law on Business Organizations, being currently
drafted at MTI, to include the same principals of the current Law on Business Organizations
regarding business registration, namely that business registration is a formal administrative process,
which imposes no barriers and burdens on businesses wishing to register at KBRA.
