PH slips 11 notches in World Bank's ease of doing business ranking

A general view shows the central business district Nairobi

A general view shows the central business district Nairobi

The slide in the rankings was attributed mainly to the country's "Getting Credit" indicator where the ease of doing business score plunged from 30 to 5.

A regional press release by the World Bank read: "Nigeria carried out four reforms which included making Starting a Business easier in Kano and Lagos, the two cities covered by Doing Business".

The World Bank's 2019 Doing Business Index (DBI) yesterday reported an improvement in Nigeria's ease of doing business as the country moved from 51.52 to 52.89.

The DOF and DTI said the World Bank's survey team was unable to correct the information on the country's credit information database.

"In the area of Starting a Business, the Philippines simplified tax registration and business licensing processes, but increased tax registration costs".

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"The UAE has become a global hub for innovation, entrepreneurship and investment thanks to significant efforts made by the Federal Government and other local departments to create a world class business-friendly environment, enabling the country to vie with the best", said Sheikh Mohammed bin Rashid, Vice President and Prime Minister, according to state news agency Wam.

The World Bank also commended Turkey's efforts regarding training land registry officers.

"It is encouraging to see that progress is being made to improve the business environment to promote investments by both domestic and foreign firms, so necessary to spur growth, provide jobs and further reduce poverty", said Henry Kerali, Country Director, World Bank, Ghana.

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.

The Doing Business Index is an annual ranking that objectively assesses prevailing business climate conditions across 190 countries based on 10 ease of doing business indicators.

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But it was in the area of "Registering property" that Malta fared worst, in a global 151 spot, requiring 15 days and seven different procedures.

Afghanistan was the most improved economy followed by Djibouti and China.

The report, "Doing Business 2019: Training for Reform", released on Wednesday night showed the Philippines, represented by Quezon City, garnering a score of 57.68 from a possible ideal score of 100.

"India has improved in rank in 6 out of 10 indicators and has moved closer to worldwide best practices.The most dramatic improvements have been registered in the indicators related "construction permits" and "trading across borders", the ministry said. 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. It is the highest ranked Sub-Saharan African economy. During the past year, Malaysia implemented six reforms and Mauritius five.

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