Meeting at the BCCI with World Bank Mission

On 25 November 2010, BCCI President Mr. Tsvetan Simeonov had a meeting with the World Bank Mission. The representatives of the world organisation visited Bulgaria on the occasion of a joint seminar of the Ministry of Economy, Energy and Tourism and the World Bank, on the subject of “Better Regulation for Higher Growth”, which took place on 23 November 2010. During the event, conclusions and suggestions of World Bank reports in the field of the regulatory reform were presented.

During the meeting at the BCCI a discussion was held on the need of improvement of the economic environment for the business. Mr. Simeonov clearly stated BCCI’s support in this respect. Specific measures were discussed, which the two organizations will take in order to proceed from analyses and advice to actions for the pilot implementation of some of the World Bank’s suggestions. Joint trainings on the subject of financing innovative companies were planned.

Mr. Simeonov shared that an e-government will offer solution to a lot of the problems currently faced by the business (administrative obstacles, corruption and the administration’s incompetence) and the BCCI is going to defend this position.

Some of the World Bank’s recommendations coincide with BCCI’s position on reducing the regulatory and administrative burden for companies:

o It is necessary for the government to develop and adopt a general policy, as well as internal regulations, with clear criteria for calculation of state fees and increasing of transparency.

o Regular consultations with national business associations and other key interested parties should be held in order to increase the predictability and transparency of the Better Regulation Policy.

o Adopting a Business Associations Act to strengthen the functions of business associations in supporting their members.
o Introducing a mandatory Regulatory Impact Assessment (RIA) of key legislative acts in order to define the costs for all interested parties. The Impact Assessment will not only guarantee against unnecessarily burdening regulation of companies, but will also respond to the business’ appeal for increased stability, consistency and transparency of legislation.

o An on-line Administrative Register documenting regulatory regimes and related procedures must be set up, in order to increase efficiency, predictability and transparency.

o It is necessary to improve the conditions for making business at the municipal level. Removing unnecessary rules and inefficient practices at local level will save companies time and money. In particular, it is necessary firstly to optimize or to eliminate the requirement to present documents which have been issued by the municipal bodies themselves; secondly to deal with the unlawful imposition of registration regimes; and thirdly to reduce the time period for issuing of documents.

o The strengthening and enforcing of the Act on Limiting Administrative Regulation and Administrative Control on Economic Activity (LARACEA Act) and the  implementation of the Better Regulation Program 2010-2013 are important prerequisites for all these reforms.