Italy To Trim Environmental Regulations

A small step toward making doing business in the country even remotely possible

Italy will this week pass a decree to drastically cut the bureaucratic steps required by companies to assess their environmental impact, saving businesses some 1.2 billion euros ($1.55 billion) a year.

According to a government statement, the Ministry for Public Administration will present the decree at a cabinet meeting on Friday. It will enable thousands of small and medium-sized companies to benefit from a simplified assessment of the environmental impact of their business.

The decree is part of government attempts to ease Italy's tortuous and costly permitting process for companies, among the factors that have paralyzed growth in the recession-hit country.