CHINESE ECONOMIC REFORM

Doing Business 2020: Four of ten most improved countriesfrom the Middle East, North Africa

WASHINGTON, Oct 24, 2019—Governments of 115 economies around the world launched 294 reforms over the past year lớn make doing business easier for their domestic private sector, paving the way for more jobs, expanded commercial activity, & higher incomes for many, according khổng lồ the World Bank Group’s Doing Business 20trăng tròn study.

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This lademo edition of the study documents reforms implemented in 10 areas of business activity in 190 economies over a 12-month period ending May 1, 2019. Business-friendly environments are associated with lower levels of poverty, & improved regulatory efficiency can stimulate entrepreneurship, startups, innovation, access to credit, và investment. The study is the 17th in an annual series that evaluates regulations enhancing or constraining business activity for small và medium-size enterprises.

“Governments can foster market-oriented development and broad-based growth by creating rules that help businesses launch, hire, và exp&,”World Bank Group President David Malpasssaid.“Removing barriers facing entrepreneurs generates better jobs, more tax revenues, and higher incomes, all of which are necessary to reduce poverty and raise living standards.”

It is important to note thatDoing Businessis not meant to be an investment guide, but rather a measurement of indicators of ease of doing business.

The ten economies where business climates improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikisrã, Pakischảy, Kuwait, Trung Quốc, India, and Nigeria, the study found. Đài Loan Trung Quốc và Togo appear aao ước the top ten for the second consecutive year, while India makes the menu for the third consecutive year, indicating that business regulatory reform is a multi-year process. Bahrain implemented the highest number of reforms, improving in nine out of ten areas measured by the report. Đài Loan Trung Quốc & Saudi Arabia followed with eight reforms each.

The ten economies scoring the highest on the ease of doing business rankings were New Zealand, Singapore, Hong Kong SAR China, Denmark, Republic of Korea, United States, Georgia, United Kingdom, Norway, và Sweden. Top performers typically had online business incorporation processes, electronic tax filing platforms, and online procedures for property transfers.

At the same time, 26 economies took steps that posed new obstacles khổng lồ business activity. Many of these increased the costs of doing business.

An entrepreneur"s experience differs wildly in high- và low- performing economies. For example, it takes nearly six times as long, on average, lớn start a business in the economies ranked in the bottom 50 than in economies ranked in the top 20. Transferring property in the 20 top economies requires less than two weeks, compared lớn three months in the bottom 50. Obtaining an electrithành phố connection in an average bottom-50 economy takes twice as long as in an average top-trăng tròn economy; the cost of such a connection is 44 times higher when expressed as a percent of income per capita.

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The 10 areas measured in the report are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, & resolving insolvency. One additional area, employing workers, is also measured but is not included in the rankings.

Starting a business, dealing with construction permits, getting electriđô thị, and paying taxes were areas with the most active sầu reform over this period. Reforms in dealing with construction permits and getting electricity have jumped in recent years. Many of the 37 economies that made construction permitting simpler streamlined interactions with agencies for pre-approval & inspection. To connect businesses with the power grid more efficiently, 16 economies invested substantially in modernizing electrical infrastructure. One outcome: average global duration of power cuts fell more than 8 percent between 2017 và 2018.

Since its inception in 2003, more than 3,500 business reforms have been carried out in 186 of the 190 economies Doing Business monitors.

Regional Overviews:

East Asia & Pacific: Economies in this region carried out 33 business-climate-enhancing reforms during the past year. While many made doing business easy for small and medium-sized entrepreneurs by global standards, the overall pace of reforms slowed. The number of reforms in the region fell by ten over the 12-month period and reforms were implemented in fewer than half of its economies (12 out of 25). Even so, five are aao ước the top 25 global performers, including Singapore (2nd), Hong Kong SAR, Trung Quốc (3rd); Malaysia (12th); Taiwan, Đài Loan Trung Quốc (15th); & xứ sở của những nụ cười thân thiện (21st). China is aước ao the page đầu improvers for a second consecutive year.

Europe & Central Asia: Economies in this region accelerated an already svào momentum to improve sầu their business climates, enacting 56 reforms và leading globally in reforms on paying taxes and enforcing contracts. Europe & Central Asia is trang chính lớn two of the world’s top 20 best places to bởi vì business – Georgia (7th) and North Macedonia (17th). Tajikistung ranks among muốn the top ten most improved economies globally.Azerbaijan, the Kyrgyz Republic, Kosovo, & Uzbekistan were among mỏi the top 20 most improved economies world-wide.

Latin America và the Caribbean: Economies in the Caribbean carried out a record 19 reforms over the past year to make it easier for domestic enterprises to vị business, but the region has more work lớn bởi vì to reach global standards. Puerto lớn Rico và Jamaica were the region’s top-ranked economies, ranking 65th và 71th globally. Latin America continues to lớn lag other regions of the world, but there are some bright spots. Colombia has implemented a total of 37 reforms since 2005 & continues to lead resize efforts in the region. Mexiteo remains the region’s top-ranked country, 60th, but for the second year in a row Mexico did not introduce any major business climate improvements.

Middle East and North Africa: Reforms across the Gulf economies have sầu been on a steady rise, driven in part by the urgent need for economic diversification. Economies in the region implemented the most reforms on record to ease doing business for domestic enterprises -- 57 business regulatory reforms, up from 43 during the previous 12-month period covered by the study. The region hosted four of the most improved countries world-wide: Saudi Arabia, Jordan, Bahrain, & Kuwait. These countries tài khoản for almost half of the region’s reforms. Saudi Arabia implemented reforms including establishing a one-stop shop for business registration procedures, introducing a secured transactions law & an insolvency law, improving protections for minority investors, & measures to lớn empower women economically. The United Arab Emirates remained the strongest performer overall in the region, placing 16th on the ease of doing business rankings.

South Asia: Many South Asian economies kept up a solid pace of business regulatory reforms as India và Pakischảy both earned spots among mỏi the world’s top ten most improved economies & improved their global ease of doing business scores. Economies of the region carried out 17 reforms to lớn improve the business climate for domestic enterprises. India continues lớn be the region’s top ranked economy, placing 63rd in global ease of doing business rankings thanks lớn four reforms. In Pakistan, the time it took to lớn obtain an electrical connection was cut by 49 days.

Sub-Saharan Africa: While economies in this region continued to improve sầu their business climates, the pace of reforms has slowed, & the region lags other parts of the world in terms of rekhung impact và implementation. Economies of the region enacted 73 reforms, down from a record high of 108, & the number of countries implementing at least one rekhung fell khổng lồ 31 from 40. While resize efforts continued in many countries, much needs to be done on performance và ensuring the impact of the reforms. Only two Sub-Saharan African economies rank in the top 50 on the ease of doing business rankings while most of the bottom 20 economies in the rankings are from the region.