Poland ranked 24th in Doing Business

The World Bank presents an annual Doing Business report on the ease of conducting business activity in 19 countries around the globe. In this year’s ranking, Poland took the 24^th position, which is the country’s historical best. The first spot in the ranking was taken by New Zealand, followed by Singapore and Denmark.

The evaluated countries are ranked with respect to several categories connected with business environment. These are: Starting a Business, Dealing with Construction Permits, Getting Electricity, Registering Property, Getting Credit, Protecting Minority Investors, Paying Taxes, Trading Across Borders, Enforcing Contracts, and Resolving Insolvency.

Poland got good scores with respect to Trading Across Borders, Resolving Insolvency, and Getting Credit. What still falls behind expectations is Starting a Business. In Poland, it takes a lot longer to formally launch operations in comparison with other European countries.

In the last year’s report, Poland was ranked 25^th. The move one position up was possible due to good changes in regulations on construction law and restructuring law. Thanks to the reforms, getting a construction permit got easier and restructuring proceedings are simpler and take less time than previously.

Poland was placed higher than many other European economies, for example France, the Netherlands, and Switzerland. Among the OECD economies, the country got into the top 20.

Mariusz Haładyj, a Deputy Minister of Development, was glad when he heard the news. “Polish economy is going in good direction” – he commented.

The Doing Business list is being published since 2003. Its goal is to compare the ease of doing business and regulatory environment in the economies across the world. The easier it is to conduct business operations in each country, the higher the position. The distance to top-scorers is also taken into consideration when estimating the final position.

Several subnational reports are also available, and one of them concerns Poland. The city in Poland with the highest ease of business is Bydgoszcz. The two cities that follow are Olsztyn and Białystok. As to Warsaw, the capital of Poland, the city took the 17^th place out of 18 ranked cities.

Polish government is hoping to make conducting business less complicated. The Ministry of Finance is working on a so-called “Constitution for Business” and a set of new solutions which are to make entrepreneurs’ life in Poland easier. The scheme is to be revealed in November 2016. Entrepreneurs in Poland are waiting.