The last years saw a restructuring of the banking sector, meaning private access to credit is now easier. By and large, the government stays out of the financial sector, and foreign investors enjoy a mostly unconstrained access to the domestic capital market. Ten of the 16 private banks currently operating in the country are foreign-owned. The number of state-owned banks has been reduced. Additionally, there are 72 smaller, mostly unregulated lending institutions.
To start, run, and close a business is protected by the country's regulatory environment. Starting a business takes a mere 13 days, but declaring bankruptcy can be a lengthy and burdensome process.
Labour regulations are comparatively flexible. The non-salary cost of a worker is average, whereas firing an
employee is a straightforward and costless procedure. Regulations on work hours, however, are not flexible.