The FINANCIAL -- In the newest edition of the World Bank’s Doing Business report, which compares conditions for doing business in 190 countries of the world, Poland ranks 27th.

Compared to other countries, Poland is doing well in the areas of trading across borders and access to credit. On the other hand, there is still a room for improvement in the areas of enforcing contracts and paying taxes. Those activities still take more time in Poland than in most other countries of the European Union.

While last year, at 24, Poland ranked higher overall in the report, its numeric indicator was somewhat lower than this year - 77.12 in Doing Business 2017, compared to 77.30 in Doing Business 2018.

“Comparing the Doing Business ranking to a marathon, we could say that Poland achieved a somewhat better time than a year ago, however other countries ran even faster, and that is why Poland’s position has dropped slightly. Despite that, Poland is still among the global leaders in terms of conditions for doing business,” says Carlos Piñerúa, World Bank’s Country Manager for Poland and Baltic States.

This year’s leader, in terms of most friendly business environment, is New Zealand, the same as last year. Singapore took second place, and Denmark came in third. In the period between July 2016 and June 2017, which is the basis for the newest edition of the report, 119 countries have implemented 264 reforms aimed at improving conditions for creating new jobs, investments, and competition. During this time, Poland did not implement the reforms included in the Doing Business ranking, says the report.

“This doesn’t mean that Polish authorities don’t try to make it easier to do business in Poland. Many regulatory changes have not yet entered into force, while others are available but companies don’t know about them yet. What’s important to note is that New Zealand owes its leading position not only to changes in the law, but also its e-government services, tailored for business. It is the digital services that are key to furthering improvements in the business environment conditions of Poland,” says Maciej Drozd, World Bank economist.

Doing Business 2018 is the 15th edition of World Bank’s flagship report. The objective of the report is to encourage the ranked countries to improve their business environment conditions. Business friendly environment makes it easier for companies to operate, allows them to invest and increase employment, thus improving living standards of various social groups, including those most vulnerable. The report analyzes the regulations, governing operation of the companies in scope of, among other things, obtaining permits, paying taxes, enforcing contracts or trading across borders.