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Slovakia still lags behind in business environment

Despite good development, the country still needs to do more to catch up, PAS report shows.

Illustrative stock photo(Source: Sme)

Though the ranking of Slovakia’s business environment slightly improved, it still lags behind more developed countries. This stems from the so-called Superindex report, where the Business Alliance of Slovakia (PAS) merges the data of four renowned international rankings issued by the World Economic Forum, the World Bank, the Heritage Foundation and Transparency International.

Slovakia’s ranking improved to 78.3 points, up by 0.46 point compared to last year. This was impacted mostly by its placement in the Doing Business report by the World Bank. Thanks to this development, Slovakia moved up two places to 35th position, overtaking Hungary and Bulgaria, according to the report.

“The business environment in Slovakia slightly improved during the past 12 months, as indicated by the results of four renowned institutions, and with quality of conditions for business-making it moved closer to the most successful countries in the world,” PAS wrote in a press release.

The report showed that the best business environment is in Singapore, followed by Hong Kong and New Zealand, while in Europe the best conditions are in Switzerland and Denmark. The country which improved their results the most compared with last year is the Czech Republic which placed 29th in this year’s list (up from 34th position last year). Another Visegrad Group country, Poland, placed 30th.

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