The new Austrian government adopts a new economic policy to combat bureaucracy

4 days ago

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Vienna on March 9 / WAM / The new Austrian government announced the adoption of a new economic policy to combat bureaucracy, and to lead a campaign against unnecessary bureaucratic requirements that considered it a major priority as part of its efforts to enhance Austria’s competitive position to attract foreign business and investments and create framework conditions for economic growth.

Wolfgang Hatmandorf, the new Austrian Minister of Economy, said that excessive bureaucracy makes investment more difficult, in light of the increasing international competitive pressures, and stressed that the new government program includes concrete measures to simplify and abolish excessive regulatory restrictions to reduce the burden on companies, and overcome economic challenges of high energy costs and the lack of skilled labor.

He stressed that the main step to strengthen the industrial sector is to reduce bureaucracy and reveal the facilitation of procedures in the areas of the tax law and the approval of the establishment of companies, the simplification of business transfer operations, the speedy treatment of the issuance of permits, and the amendment of the direction of the supply chain to reduce the bureaucratic burden on companies and explained that the bureaucratic combat efforts come within the framework of a comprehensive approach at the level of the European Union.