Business News

Ministry Hopes to Further Improve Business Conditions

Ljubljana, 26 October (STA) - The Economic Development Technology Ministry commented on Friday on the results of the World Bank's Doing Business survey, saying that Slovenia preserving the 35th rank among 185 countries was an expected result, which showed that a lot of work remained to be done to improve conditions for business.

The ministry said that some measures boosting the economy had already been adopted this year, while the key steps were envisaged in a third package of measures, which is presently subject to social dialogue.

It highlighted the labour market reform and the fixing of the banking system, saying that these measures "will have the most decisive effect on business conditions".

Slovenia, whose ranking in the survey published on Thursday is identical to last year's, fared best in investor protection, even improving its position by seven places, climbing to 17th place.

It achieved the biggest leap in the paying of taxes, where it jumped by 17 spots to 63rd. On the other hand, the biggest drop was recorded in getting credit, where it dropped seven places to end in 104th.

Slovenia moreover dropped a spot in the getting electricity segment to rank 31st and lost two when it comes to starting a business, to end up in 30th.

Slovenia has also dropped three spots in terms of solving insolvency to rank 42th. In terms of trading across borders, the country also dropped three spots to 57.

It gained a spot in the enforcing contracts category, climbing to 56th, but slid four spots to rank 83rd in registering property. The country remained in 61st in dealing with construction permits.

Singapore, Hong Kong and New Zealand remained at the top in the World Bank's Doing Business survey.

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