Business environment improves in Central and Eastern Europe
The World Bank’s for the first time evaluated business conditions in 87 countries. The report “Investing Across Borders 2010” concluded that Central and
Eastern Europe
has seen the highest improvement in conditions for investors.
The report looked at issues such as the influence and bureaucracies of governments when conducting business in a country. For example the report found that setting up a business in can take as long as six months and in up to ninety-nine days or longer. While compared to and , where all necessary documentation can be completed in less than 2 weeks, and in and where a business can now be setup over the internet.
According to the study nine out of ten countries don’t allow foreigners to run a business without heavy restrictions. Many governments require foreign investment approval, restricted foreign ownership and make it difficult to obtain simple permits.
The author of the study, Peter Kusek stated that, “
Eastern Europe
has benefited greatly from the new laws imposed in the process of joining the European Union.” This has helped to improve the environment for conducting business in Central and
Eastern Europe
. Unfortunately even with these reforms, the region has experienced a loss of half of its foreign investment capital during last year, attributed mainly due to the challenging economic situation across
Europe
.
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