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Economy Ministry presents report on state of business environment

The business environment in Slovakia in recent years has undergone major changes, with a favourable impact on entrepreneurship, reads an Economy Ministry report entitled Report on the State of the Business Environment in Slovakia, which was published on January 8.

The business environment in Slovakia in recent years has undergone major changes, with a favourable impact on entrepreneurship, reads an Economy Ministry report entitled Report on the State of the Business Environment in Slovakia, which was published on January 8.

The most important changes include the new Public Procurement Act and the elimination of illegal labour involving family members assisting in doing business.

"2007 was characterized by the passage of a new Labour Code," the report states about the law that delivered on the SMER party’s campaign promise to provide workers with more rights and job security.

Among persistent negatives are the high payroll tax and paperwork burden, low level of law enforceability, corruption involving the authorities and frequent changes in legislation. The ministry concedes in the report that Slovakia lacks a complete medium-term strategy for supporting small and medium-sized enterprises in Slovakia, and claims that it plans to draft one by the end of this year. TASR

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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