Investor Presentaiton
IV.1 Institutions
Majority of institution-related indicators are showing further negative
results during 2022 survey
■ For example, the government is less responsive to changes (-0.18;
44.4%); private businesses' less ability to challenge government
decisions (-1.33; 74%) and poor corporate ethics (-0.67; 61.7%)
■ Some marginal improvement in perception (though below the average
level) was observed during 2022 compared to that in 2021
For example, protection of property rights (0.04%, 64.4%)
independence of judiciary (-0.9; 62.5%) and ethical standard of
politicians (-1.07; 67.6%)
■ Businesses further struggling in a poor governance situation in number of
public entities
▪ This is reflected in the lack of ability to ensure a stable policy
environment (-0.41; 49.3%); illegal diversion of public funds (-0.96,
65.3); burdensome public administration's compliance (-0.62;
57.5%) and inefficient legal & judicial system to settling dispute(-
0.71; 56.2)
■ Such inefficiencies and weaknesses made a severe adverse impact for
businesses particularly on SMES
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