of slovakia aims to be singapore of europe

Slovakia Aims to Be Singapore of Europe by Cutting Bureaucracy After Fico

Slovak Economy Minister Juraj Miskov plans to eliminate red tape and relax labor laws as the former advertising executive seeks to attract investors to what he says can be the Singapore of eastern Europe.

Slovakia, which prospered by luring carmakers to the country, became less attractive to investors as former Prime Minister Robert Fico increased the state’s role in the economy, Miskov said Aug. 25 at his office in the capital, Bratislava.

Singapore is the easiest country to do business in, according to 2010 rankings by the World Bank. Slovakia, which adopted the euro in 2009, slipped seven places to 42nd as Fico increased regulation and made it more difficult to fire workers.

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