Economy Ministry unveils measures to improve the business environment

Government admits to deterioration of the business environment in Slovakia

Red tape burdens entrepreneurs in Slovakia.Red tape burdens entrepreneurs in Slovakia.(Source: TASR)

Apart from the social package targeting seniors and families, the government is working on a package for entrepreneurs. The Economic Ministry has already submitted it for interdepartmental review.

The second package of measures aimed at improving the business environment in Slovakia will contain 25 measures, mostly designed to improve conditions for family businesses, extend electronisation and cut red tape for employers, the TASR newswire reported.

Read also:Ruling coalition targets pensioners with record social package

The government has admitted that the business environment in Slovakia has deteriorated. It ascribes its lower quality to a lack of labour, as well as instability of the legislative environment, often changes in conditions for doing business as well as bureaucracy. The document does not mention corruption at all, even though business people in Slovakia perceive corruption as one of the biggest obstacles to doing business in Slovakia, the Hopodárske Noviny daily pointed out.

The package

The Economy Ministry drew inspiration for individual measures from 200 proposals, with an eye towards improving Slovakia’s rankings in international charts, make the country more attractive to investors and facilitate the running of businesses.

Under the new legislation, employers will no longer have to report the start and end of maternal and paternal employee leave to the social security provider Sociálna Poisťovňa. The conditions for firms willing to join the dual education system will also be improved, while entrepreneurs will no longer be obliged to submit certain documents accessible from public registries.

The measures propose the introduction of systemic tools to boost employee skills in IT and communications technology. Entrepreneurs will also be better informed about which original documents they will need when trying to carrying out administrative procedures at various offices.

The Office of Vice-premier for Investments and Informatisation has been tasked with ensuring that state institutions will no longer demand the most frequently required printouts and other documents from both individuals and companies.

Current procedures for granting temporary residence to foreigners will also be analysed.

“The registering of foreigners for residence in Slovakia, the granting of work permits as well as procedures at the foreign police represent an undue burden,” said the Economy Ministry.

Other areas to be streamlined concern assigned tax identification numbers and the collection of taxes.

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