Ease of doing business Index 2019

6:28 pm
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6:28 pm rising Kenyans walking in Nairobi Twitter

Just two years ago, India was languishing at 131 spot among 190 nations.

On the methodology adopted, the report said the indicators presented and analysed in Doing Business measure business regulation, the quality and strength of legal frameworks, the protection of property rights-and their effect on businesses, especially small and medium-sized domestic firms. The Middle East and North Africa region scaled a new high with 43 reforms.

"During this past year, Kenya has once again showcased itself as one of the global leaders in adopting worldwide best practices in business regulation", said Felipe Jaramillo, the WB Kenya country director.

Some of the reforms implemented in the past year were also mentioned in the report.

Finance Minister Arun Jaitley said BJP wanted to rank within top 50, in "Ease of Doing Business", today reached 77 and this is the largest single jump.

Regarding mainland China, the World Bank said the country demonstrated "impressive reform agendas" to improve the business regulatory environment. The reforms in Mauritius included the elimination of gender barriers for starting a business.

According to the report published Wednesday, Turkey received 74.33 points out of 100, improving 4.34 points since previous year.

This is the second consecutive year that India has been recognized as a top improver.

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Governments must accelerate efforts to create the conditions for private enterprise to thrive, added World Bank Group president Jim Yong Kim.

This year, Doing Business collected data on training provided to public officials and users of business and land registries.

However, it noted that the Philippines made trading more hard this year. As a result, the time needed for exporters to comply with documentation requirements was reduced to 14 hours, from 38 hours.

The report further says last year's decision to introduce an online system to pay fees has helped cut the time required for a business to register property from 61 days to 49.

Capitalising on these improvements, there are more opportunities for improvement in many other Doing Business areas. New Zealand, Singapore, and Denmark landed in the top three spots for the third year in a row, followed by Hong Kong and South Korea.

The United States is placed eight and China has been ranked 46th. "As a result of this reform, Turkey catapulted to 32nd place globally in this area from 77 past year", it added. India is now the region's top-ranked economy. The report notes that India has supported its ambitious reform agenda by providing regular training to both customs officials and private sector agents, as well as by establishing Customs Clearance Facilitation Committees which bring together actors involved in global trade at regular meetings.

Over the past 12 months, collectively these economies implemented a total of 23 reforms. The lowest ranked economies are Somalia (190), Eritrea (189) and Venezuela (188). These are Togo, Kenya, Côte d'Ivoire, and Rwanda. Improvements thereon would likely be incremental, with little separating the countries on most parameters.

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