WORLD BANK EVALUATES POSITIVELY BULGARIA'S BUSINESS CONDITIONS
09:04 Thu 07 Sep 2006
In the period between 2005 and 2006 business conditions in Bulgaria have improved, a report of the World Bank said.
The country ranked better in a business environment chart, taking the 54th position among 175 countries evaluated, a Council of Ministers press release said. Bulgaria moved up five places in the ranking since its previous edition.
Based on these developments Bulgaria has turned into one of the countries implementing reforms at the fastest pace.
According to the Doing Business 2007- How to Reform report Bulgaria and 12 other countries have taken measures to improve their business environment. Some of these countries include Australia, the Czech Republic, Latvia, Lithuania, India and Israel.
These reforms aimed at simplifying administrative rules, decreasing taxation, facilitating the access to credits and lowering expenditure on the import and export of goods.
Bulgaria and the Czech Republic facilitated business establishment procedures and reduced corporate taxation. Access to credits and to information on setting up a company has also become easier.
EU accession prospects have motivated East European countries to implement more reforms than countries in other regions, the report concluded.
