Slovakia number one in reforms

THE WORLD Bank (WB) has rated Slovakia as the most economically pro-reform state of the world among the 145 countries it evaluated, Hospodárske noviny wrote.

According to the WB's Doing Business in 2005 analysis Slovakia also ranked 18th among states with the most business friendly environment.

The analysis considered seven main criteria - starting business, hiring and firing staff, enforceability of contracts, acquiring loans, business failures, property registration and protection of investors.

According to the WB Slovakia's success stems from the fact that the state has approved measures for cutting down the time needed to set up business, labor market flexibility, and publishing business information.

Slovak officials welcomed the WB's evaluation. Finance Minister Ivan Mikloš said that "apart from the ongoing structural reforms, which improve the overall investment environment, the cabinet would like to concentrate on the legislation related to law enforcement."

Compiled by Martina Jurinová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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