Doing Business by Giving A Chance to The Young People – Appraisal of Sylvia Solf, The World Bank Representative

A meeting-discussion by a presentation of Sylvia Solf, representative of the World Bank was held at the Maxima Hall of UNWE. In the discussion on Doing Business 2012 took part Boryana Pentcheva, Vice-Minister of Finance, a lot of economists, financiers, bankers, businessmen, representatives of the state institutions and employers` organizations. Assoc. Prof. Emil Harsev was a moderator of the meeting organized by the Students Council of UNWE.

What is it doing business? It means to realize how do we live because is there anything that is not a business today, pointed out at the opening of the meeting Prof. Valentin Kisimov, Vice-Rector of UNWE. “It is important for us to work with you, the young people, because we rely you`ll build up the future of our country”, said Boryana Pentcheva who illustrated the financial stability of Bulgaria using the statistic data. However, on this stability now we need to build up the growth ant it requires to be undertaken the necessary active steps to increase the employment (especially the employment of young people) as well as the development of the small and average-sized enterprises, added the Vice-Minister of Finance. Boryana Pentcheva reminded that it had been approved a strategy by the World Bank and the ways for accelerated rates of economic growth of our country would be searched out in close collaboration and partnership with the World Bank.

Bulgaria is at the 59th place in the annual ranking of the World Bank on Doing Business 2012, pointed out Sylvia Solf in her presentation. The first place is taken by Singapore followed by Hong Kong, New Zealand, USA and Denmark. The report published on Doing Business 2012: Doing Business in A More Transparent World analyzes the legal regulations concerning the local companies in 183 countries. The state economies in the research are ranked by 11 indicators treating the business regulations as they follow: starting a business, time for termination of the business, external trade, etc.

Bulgaria keeps its stable position in the ranking. Positively are reported the reforms in the field of cross-borders trade and the simplification of the procedures in bankruptcy. It places Bulgaria in the global ranking in front of the countries like Czech Republic, Italy, Poland and Romania. “The increase of transparency is important for the establishment of more convenient business environment”, outlined Sylvia Solf.

Sylvia Solf answered also the numerous questions of students at the Maxima Hall.