Ministry of Economy signs an agreement with the World Bank Group to further improve the business regulatory environment in Poland.
Warsaw, May 14, 2010 — Today in the Ministry of Economy of the Republic of Poland, the representatives of the Ministry of Economy and the World Bank Group, represented by the International Finance Corporation, signed an Agreement to develop a “Doing Business Reform Memorandum”, which will serve as input to advise the Government on how to improve the business regulatory environment in Poland, as reflected in the Doing Business indicators.
The project work is expected to be completed by June 30, 2010, but parties may agree to extend the project beyond that date. Total costs for the implementation of the project are estimated to be 42,000 USD. The Ministry of Economy will cover 26,000 USD, while the rest of the costs will be borne by the International Finance Corporation.
The International Finance Corporation will advise and discuss with the Ministry of Economy the various reform measures that would substantially reduce the costs and risks of operating businesses in Poland by streamlining five key areas measured by the Doing Business Report:
- starting a business,
- obtaining construction permits,
- paying taxes,
- protecting investors and
- registering a property
The “Doing Business Reform Memorandum” will be prepared by a World Bank Group Team led by Penelope Fidas from the International Finance Corporation and coordinated by Marcin Piatkowski, Senior Economist in the World Bank office in Warsaw.
“We are very pleased to be part of this project offering our expertise and experience,” said Thomas Laursen, World Bank, Country Manager for Poland and the Baltic Countries. “The doing business reform agenda is very important for Poland and for the Ministry of Economy, and this agreement is a clear sign of The World Bank Group’s support to Poland’s efforts to improve the business regulatory environment. The Doing Business 2010 report recognizes the Polish Government’s involvement in improving the business climate in Poland. In the past year, there have already been significant improvements achieved in several crucial areas for the entrepreneurs such as: starting a business, getting credit, paying taxes and closing a business. Further progress can be made in these and other areas such as obtaining construction permits and registering a property. With this agreement we hope to be able to assist Poland in facing these challenges. For the World Bank Group it is also another step in changing our engagement in Poland from only direct lending to fee based analytical work.”