Poland has slightly improved its score in the annual Index of Economic Freedom, which measures the ease of doing business worldwide.
The country’s score has inched up to 68.5 points from 68.3 points a year ago.
Poland has kept its 45th spot globally in this year’s Index of Economic Freedom, which is compiled by the Heritage Foundation think tank and The Wall Street Journal.
Poland maintained 21st place among 44 European economies in the annual ranking.
According to the Warsaw Enterprise Institute, the Polish partner of the Index of Economic Freedom report, Poland remains a “moderately free” economy in terms of the index, which ranks 180 countries.
”Poland has been recognised as a country friendly to investment,” Tomasz Wróblewski, head of the Warsaw Enterprise Institute, told reporters as the report was released on Friday.
“There are practically no obstacles to investing in Poland,” he added.
The average level of global economic freedom has risen by 0.2 points in this year’s index, reaching a record 61.1 points. The average score for Europe is 68.0 points.
Hong Kong, Singapore, New Zealand and Switzerland topped the global ranking, while Switzerland, Ireland and Estonia were the top three European economies.
Making life easier for businesses
Jadwiga Emilewicz, the Polish minister for entrepreneurship and technology who attended the presentation of the report, described Poland as an “investment hub in Europe.”
She announced plans for a new package of regulations to make life easier for Poland’s small and medium-sized enterprises, to add to a “constitution for business” recently approved by lawmakers in Warsaw.
These policy measures “will improve some of the indicators that are taken into account in this ranking,” Emilewicz said.
Launched in 1995, the Index of Economic Freedom evaluates countries in four broad policy areas that affect economic freedom: rule of law; government size; regulatory efficiency; and open markets, according to the Heritage Foundation.