On its tenth anniversary, the association of Multinational Companies with Spain published a report highlighting the need to simplify regulatory and administrative processes to attract more foreign investment into the country. Under the heading ‘Good legislation’. The association is exploring the importance of attracting more investment to Spain by improving regulatory processes. regulatory stability and a safe and quality frameworkThrough “proportionate, transparent, effective” regulation. Because both political stability and regulation are two basic elements in foreign investment decisions.
This regulatory framework is considered “extremely burdensome”, especially for economic operators, and the research questions “Spain stands out with its abundant regulatory production”. he says complicated and messy. And he argues that this complexity increases costs and “artificially fragments the market.”
The country is also “a obvious weakness in assessment According to the association, “subsequent regulations”. Because once approved and implemented, “there is no systematic review of the main texts”, so the opportunity to refine and improve the regulations is lost. The text also includes improving criteria such as citizen participation.
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All of the above “slow down economic and business activities, consume resources that could be used in productive investments, reduces transparency and agilityIt inhibits free competition, slows innovation and job creation, and discourages entrepreneurial spirit.” These effects are stronger in small and young companies and in the manufacturing sector due to the complexity of the business.
It proposes some changes, such as expanding the temporal scope of the regulatory scheme from the current annuity to the legislature. Reducing the number of approved standards not included in planning. “The search for simplicity, certainty and minimizing administrative burdens” is once again emphasized, as well as increasing the duration of citizen participation and conducting more intensive evaluations.