Slovakia placed 37th in World Bank business ranking

SLOVAKIA worsened its position in the ranking evaluating the quality of business environment compared to last year. According to the latest Doing Business 2015 report it fell to 37th place out of 189 countries ranked, down two positions compared to last year, the SITA newswire reported on October 29.

SLOVAKIA worsened its position in the ranking evaluating the quality of business environment compared to last year. According to the latest Doing Business 2015 report it fell to 37th place out of 189 countries ranked, down two positions compared to last year, the SITA newswire reported on October 29.

Singapore led the ranking, published by the World Bank, followed by New Zealand and Hong Kong. Among the Visegrad Group (V4) countries, Poland placed the best after it became 32nd, down by two positions compared to last year. The Czech Republic placed 44th and Hungary 54th, both up by three spots compared to the 2014 report.

The ranking showed that Slovakia dropped the most in the area of paying taxes: by nine places to 100th position. In getting credit category it dropped by six places to 36th, while in getting electricity it fell by four positions to 100th place. Slovakia also fell by three places to 100th position in protecting minor investors, as reported by SITA.

The country also reported a drop by three positions to 31st place in the area of resolving insolvency and by two positions to 110th place in dealing with construction permit. Moreover, it fell one position to 11th place in registering property, and by one place to 71st position in trading across the board, SITA wrote.

On the other hand, Slovakia moved up two places to 57th position in enforcing contracts and six places to 77th position in starting a business, according to SITA.

The World Bank study does not examine all aspects of business environment that may have impact on companies and investors. It, for example, does not evaluate the security situation, macroeconomic stability, corruption, labour force qualification and stability of financial systems.

Source: SITA

Compiled by Radka Minarechová from press reports

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