Kenya Posts Improvement in 2018 Ease of Doing Business Rankings
- Author: Eleanor Harrison Nov 02, 2018,
Nov 02, 2018, 2:08
Prabhu said India's leap of 23 ranks in the ease of doing business ranking is significant considering that past year India improved its ranking by 30 places, a rare feat for any large country the size of India.
It is now ranked first among South Asian countries compared to 6th rank in 2014.
Grant of a construction permit, trading across the borders, starting a business, getting credit, getting electricity and enforcing contracts showed improvement.
The annual report, which ranks countries on business-friendliness, procedural ease, regulatory architecture and absence of bureaucratic red tape, comes at a time when the recently elected Pakistan Tehreek-e-Insaf government is approaching friendly countries and the International Monetary Fund to ease the economic crisis facing the country.
On the back of the sustained efforts of the Presidential Enabling Business Environment Council (PEBEC), the report also acknowledged that Nigeria implemented four reforms, her second highest number of reforms since the beginning of the Doing Business Index.
Malta, according to the World Bank, will be the most hard place in the whole of the European Union in which to do business, according to the World Bank's annual Ease of Doing Business Survey released yesterday.
India jumped 23 positions in the World Bank's Ease of Doing Business Index and is now ranked 77 out of 190 countries in 2018, a development that could help the country attract more foreign investments.
The reforms of the past year covered the "doing business" areas of "starting a business", "registering property" and "resolving insolvency".
- In notable changes to the top 20 ranked economies this year, UAE joins the grouping for the 1st time, in 11th place, while Malaysia and Mauritius regain spots, in 15th and 20th places, respectively.
Another area where the country made positive strides is that of starting a business.
Claver Gatete, the Minister for Infrastructure, said the reforms that the country has been implementing have translated into tangible results for businesses operating in Rwanda.
Similarly, India witnessed improvement in the ranking for "trading across borders", which rose to 80 from 146 past year. China has carried out massive reforms and where it outshone India is the key area of registering property. For example, getting an electricity connection now takes 185 days as compared to 215, previously.
"This year, Doing Business captured a record 107 reforms across 40 economies in Sub-Saharan Africa, and the region's private sector is feeling the impact of these improvements", it says.
The country, however, ranked poorly in construction permitting due to the long, tedious process to get approvals.
The most significant improvement has been seen in "dealing with construction permits", where the ranking has improved to 52 from 181.