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Article: World Bank report criticizes Czech business environment.
- Article from:
- Czech Business News
- Article date:
- May 27, 2004
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World Bank report criticizes Czech business environment
Prague. May 27 INTERFAX EUROPE -A new report by the World Bank (WB) on the business environment in countries around the world criticizes the Czech Republic on a number of points, including the lengthy process involved in setting up a business in the country and inefficient bankruptcy proceedings.
The process for establishing a company in the Czech Republic is far too lengthy compared to that in Western Europe or neighboring countries, the WB's Simeon Djankov told journalists in Prague. In Australia, for example, a company can be set up in a mere two days, while the average for OECD member states is ...