Poland advanced by 3 spots to the 45th place among 189 countries covered by the World Bank's Doing Business 2014 report. Its CEE neighbours were ranked as follows: Slovakia - 49th, Hungary - 54th, the Czech Republic - 75.
The World Bank pointed to two reforms carried out recently in Poland. It noted that the country made starting a business easier by eliminating the requirement to register the new company at the National Labor Inspectorate and the National Sanitary Inspectorate. Poland also made dealing with construction permits easier by eliminating the requirement to obtain a description of the geotechnical documentation of the land.
Still, in terms of the ease of starting a business Poland is ranked 116th, in terms of dealing with construction permits - 88th, getting electricity - 137th, registering property - 54th, getting credit - 3rd, protecting investors - 52nd, paying taxes - 113th, trading across borders - 49th, enforcing contracts - 55th and resolving insolvency - 37th.
The World Bank also stressed that the economic integration in the European Union over the past decade has been an effective mechanism in promoting convergence. Indeed, Poland is now classified as a high-income economy, a remarkable achievement over 2 decades, the institution concludes.
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