Poland made more progress in improving its business environment during the period June 2011 to June 2012 than any other country worldwide, according to a new IFC and World Bank report. Doing Business: Smarter Regulations for Small and Medium-Size Enterprises looked at 185 economies worldwide and analyzed regulations that apply to businesses during their life cycle, including start-up and operations, trading across borders, paying taxes, and protecting investors.
Poland has introduced four important institutional or regulatory reforms that have made it easier for businesses to operate:
- Property registration is now faster following the introduction of a new caseload management system for land and mortgage registries and by continued digitization of records.
- Paying taxes is easier for companies because of electronic filing and payment systems which are increasingly used by firms.
- The time required to enforce contracts in Warsaw has been cut by one third since 2005, because of more simplified procedures, efficient document handling and improved case monitoring.
- The efficiency of insolvency proceedings has improved over the past six years due largely to updated guidelines on information and a more streamlined process of bankruptcy petition.