Kenya was also ranked as the world’s third most reformed country. FILE PHOTO | FREDRICK ONYANGO | NATION MEDIA GROUP
Kenya's
standing has improved by 21 places in the latest World Bank ease of
doing business report, signalling that a raft of business reforms
initiated by the government may be paying off.
The Doing Business 2017
report released on Tuesday showed that Kenya was placed at position 92
out of 190 countries surveyed, with Mauritius and Rwanda outpacing Kenya
at 49th and 56th place respectively.
New Zealand replaced Singapore this year as the easiest place in the world to do business.
Kenya’s
improvement was credited to five reforms in the areas of starting a
business, obtaining access to electricity, registering property,
protecting minority investors and resolving insolvency.
“This
is a marathon and we will not be complacent until we attain position 50
by 2020,” said Industrialisation Cabinet Secretary Adan Mohamed in
Nairobi while welcoming the results of the report.
Kenya was also ranked as the world’s third most reformed country.
A
record 137 economies around the world were reported to have adopted key
reforms that make it easier to start and operate small and medium-sized
businesses, said the World Bank.
The latest survey
found that developing countries carried out more than 75 per cent of the
283 reforms in the past year, with sub-Saharan Africa accounting for
over a quarter of all reforms.
The world's top 10
improvers, based on reforms undertaken, are Brunei Darussalam,
Kazakhstan, Kenya, Belarus, Indonesia, Serbia, Georgia, Pakistan, the
United Arab Emirates and Bahrain.
In its global country
rankings of business efficiency, the World Bank awarded its coveted top
spot to New Zealand, with Singapore ranking second, followed by
Denmark, Hong Kong, China and the Republic of Korea.
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