Mr Minister, distinguished guest, dear colleagues,
Please let me extend a very warm welcome to all of you. Great that we are together today to present World Bank recommendations and Government plans to further improve business regulation.
I have a 4 year old son, and as all kids at his age he is exploring the world. As a parent, I am confronted with many questions, and most of these questions start with WHY, WHAT, WHERE and HOW. Please let me apply these question words to our today’s event: • WHY is good business regulation important?
• WHAT is good business regulation?
• WHERE does Bulgaria stand in terms of business regulation?
• HOW to further improve business regulation in Bulgaria?
These questions bring us together today. Minister Traikov and his team as well as my colleague Daniel Pollner and his team are here today to suggest answers to these questions, but please allow me to start off with a few basic remarks.
WHY is good business regulation important?
Business regulation sets the “rules of the game” for private sector activities. And good business regulation should achieve three things: Lower costs for business, reduce informality, and provide transparency for all actors involved.
WHAT is good business regulation?
Good business regulation is based on clear policies, good legislation - and strong institutions to ensure effective implementation of these policies and legislation.
WHERE does Bulgaria stand today in terms of business regulation?
Over the last few years, Bulgaria has made progress in reducing the administrative and regulatory burden on business. Today, Bulgaria’s business environment is ranked in the top third of countries worldwide as assessed by the World Bank’s Doing Business report – but most EU countries score better. This leaves space for improvement.
HOW to further improve business regulation in Bulgaria?
The Government is very committed to further improve business regulation in Bulgaria, and Minister Traikov will present in a minute Government plans. My colleague John Pollner will add suggestions from our side. After these presentations, we encourage all participants to join a lively discussion centered on the HOW – how to further improve business regulation in Bulgaria. I very much count on your active participation, and I very much appreciate the time you took to join us today to discuss this crucially important topic - how to further improve business regulations in Bulgaria - in order to improve competitiveness and stimulate higher growth, for the benefit of all citizens. Thank you