HomeNewsZim poorly ranked in ease of doing business

Zim poorly ranked in ease of doing business

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Zimbabwe slipped to 171 out of 183 countries in the ease of doing business report, according to the 2012 world ranking statistics compiled by the World Bank.

The 2011 report ranked Zimbabwe 168.
In the category of starting a business, the country was ranked 144, register property 85, while trading across borders 172.

In getting credit 126 and in dealing with construction permits 166, taking 614 days for public registry coverage. For enforcing contracts 112 with a cost of $6 154,3 of income per capital taking 410 days .

“Zimbabwe went the furthest in making business regulation less business-friendly.

“Some economies have gone particularly far in closing the gap with the regulatory systems of top-performing economies such as Singapore, New Zealand and the Northern European economies,” said World Bank, vice-president and head of network financial and private sector development, Janamitra Devan.

The report said between 2010 and 2011, 35 economies implemented reforms making it easier to do business in three or more areas measured by Doing Business.

In getting electricity Zimbabwe was ranked 167, protecting investors 122 and resolving insolvency 153. In paying taxes 127.

The government launched a one-stop investment shop in December last year aimed at re-profiling the country’s business competitiveness and removing several bureaucratic burdens from potential investors previously exposed to protracted and disjointed regulatory approvals.

Doing Business 2012 is the ninth in a series of annual reports investigating the regulations that enhance business activity and those that constrain it.

Doing Business presents quantitative indicators on business regulation and the protection of property rights that can be compared across 183 economies — from Afghanistan to Zimbabwe — and over time.

Regulations affecting 11 areas of the life of a business are covered: starting a business; dealing with construction permits; getting electricity; registering property; getting credit; protecting investors; paying taxes; trading across borders; enforcing contracts; resolving insolvency (formerly closing a business) and employing workers.

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