World Bank lowers Poland's investment ranking

In a report entitled "Doing Business 2009" issued by the World Bank, Poland fell from the 72th position last year to 76th in the ranking of the easiest countries to invest in.

Poland has found itself just above Pakistan and below CzechRepublic. It still takes 31 days on average to establish a company in Poland, a result that is similar with Belarus and Nigeria. Meanwhile, it takes four days in Belgium, three days in Georgia and seven in Estonia. Moreover, a company needs to wait 308 days on average to receive a permit for construction and Korea ranked best in this category with the figure of 34 days.

"I've been studying rankings for years now and they all confirmed that Poland is not business friendly. We will continue to take even worse positions when other countries are reforming and there are no changes in Poland," said Bohdan Wyżnikiewicz, vice president at the Gdańsk Institute for Market Economics to Rzeczpospolita.

The World Bank report compares 181 countries in terms of how easy it is to run a business. According to the report, Signapore is the best place to do business, which has held the position for three years followed by New Zealand, USA, Hong Kong and Denmark.

Source: World Bank, Rzeczpospolita