How electricity helped India gain on Ease of Doing Business Ranking

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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.

Kenya posted a significant improvement in the 2018 Ease of Doing Business report released by the World Bank on Wednesday.

The country was ranked at 70th in 2002 and 85th in 2009.

World Bank put India among the top 10 economies to make the most improvements, saying it focused on streamlining business processes.

Ministers Arun Jaitley, Suresh Prabhu speak on the ease of doing business rankings in New Delhi, Wednesday.

He said, it is all because of teamwork of Central government, State governments and Local government. Jaitley also said the impact of GST has not been entirely accounted for in the ranking due to an early cut off date. "We also expect more improvements in contract enforcements and property registrations as these are critical for business investments and protection of ownership rights", he said.

According to the report, Nigeria carried out four reforms which included making starting a business easier in Kano and Lagos, the two cities covered by Doing Business.

Answering a question regarding PM Imran's visit to China, Dawood said, "Pakistan wants to expand the scope of China-Pakistan Economic Corridor to increase cooperation in industries, market access and agriculture cooperation".

A view of Nairobi at night
A view of Nairobi at night

Turkey carried out a record number of business reforms in the past year, earning the country a spot in this year's top 10 global improvers, read the World Bank Group's Doing Business 2019: Training for Reforms report on October 31. During the past year, Malaysia implemented six reforms and Mauritius five.

India has improved its rank in 6 out of 10 indicators and has moved closer to worldwide best practices (Distance to Frontier score) on 7 out of the 10 indicators. The region also hosts two of this year's top improvers, Azerbaijan and Turkey.

Globally, New Zealand topped the list, followed by Singapore, Denmark, Hong Kong, Korea, Georgia, Norway, the USA, the United Kingdom and Macedonia. "It's a collaborative effort and a combination of several interventions that has resulted in improvement into this "Ease of doing Business" index".

Speaking on "Ease of Doing Business" dealing with construction permits, DIPP Secretary further said, "Online single window in Delhi & Mumbai has streamlined the processes".

The rank has improved by a whooping 129 notches with regards to "construction permits", 66 points in "trading across borders", 19 in "starting a business", and 7 points in "getting credit".

As a result, the country significantly improved its global ranking in this area to 53, from 82 previous year. China has carried out massive reforms and where it outshone India is the key area of registering property.

"While the World Bank has taken governments to task by fostering an enabling environment characterized by efficient business regulations, so must the World Bank exercise responsibility and greater transparency in its methodology".