TOP20 INITIATIVE AIMS TO PUSH SLOVAKIA INTO WORLD’S BEST BUSINESS ENVIRONMENTS (Atlas Network)

Atlas Network publikoval 9.8.2016 článok venovaný iniciatíve Iness na zvýšenie konkurencieschopnosti Slovenska - Top20

For the past two years, Slovakia has placed 29th out of 189 measured global economies in the World Bank Group’s “Doing Business” rankings. The country has stellar ratings for registering property and ranks highest in the world for the ease of trading across borders, but these are counterbalanced by much lower ratings for crucial economic activities like starting a business and dealing with construction permits. The Bratislava-based Institute of Economic and Social Studies (INESS) has launched a new set of reform proposals, Top20, aimed at moving Slovakia’s “Doing Business” ranking up from 29th place and into the top 20 economies in the world.

“The Top20 project aims to join forces from the nonprofit sector, politicians, the media, businesses, and individuals to make Slovakia a better place to do business, fostering employment and economic development for companies and individuals,” INESS explains (translated from Slovak). “Top20 is not a criticism, but about solutions. Our reform agenda includes dozens of specific proposals aimed at improving the business position in Slovakia. From large reforms such as changes in the tax or contribution system, to smaller reforms that require only political will, these … are steps for any government wishing to advance the competitiveness of Slovakia.”

The INESS proposals are concrete, politically feasible targets that would each bring a greater level of freedom and flexibility to the Slovakian economy. The Top20 project’s proposals to reduce bureaucracy in Slovakia include establishing a three-year sunset clause for any new regulation that impacts the business environment, passing a requirement for any new business regulation to be paired with the cancellation of an existing regulation, reducing the number of professions that are protected by restrictive licenses, and eliminating restrictions on which activities entrepreneurs are allowed to pursue.

Additional proposals include several practical tax reforms, modifications to levies of health insurance and other social service contributions, streamlining of required accounting procedures, and adding new flexibility to labor code regulations.

“Top20.sk will, in the years to come, serve as an information portal through which we will analyze, measure, and annotate various existing regulations, as well as the coming challenges of the business environment in Slovakia,” INESS explains (translated from Slovak). “We will discuss possible solutions and, last but not least, monitor the government and individual politicians in their activities that favor or disfavor the business environment.”

Atlas Network, 9.8.2016