Kenya optimistic on World Bank Doing Business Index 2018
World Bank is set to announce the 2018 Doing Business Index on October 31.
According to Cabinet Secretary for the East African Community (EAC) and Regional Development Adan Mohamed, this is a looming victory for the country.
“We are confident that the reforms we have put in place as a country especially under the ease of doing business program would go a long way in making Kenya a pace setter in the region and encourage other member states to follow suit,” he said in a statement.
Kenya has previously been part of the 190 economies in the world considered to have a “regulatory environment conducive to the starting and operation of a local firm”.
The Kenyan economy ranked 136th in 2014 and improved to 80th last year.
Last year, it was listed as the third best African country for doing business after Rwanda and Morocco which ranked 41 and 69 respectively.
Kenya targets to hit top 50 by 2020, a goal which CS Mohamed says the country has been working towards.
“The trajectory towards this goal continues to be on track, as competitiveness in EAC and globally, heightens as a critical ingredient to attracting investments”, CS Adan.
The Doing Business index measures the ease of doing business, starting a business, registering property, construction permits, paying taxes, trading across borders, getting credit, getting electricity and protecting minority investors.
Recent infrastructural developments to ease doing business include the construction of the Standard Gauge Railway, increased supply of energy and road constructions.
CS Adan also highlighted the completion of the five OSBPS (One Stop Border Posts) at Malaba, Busia, Holili, Namanga and Isibania, which reduce the long queues of export-carrying trucks at the various border points.
These, he says, will go a long way to increase Kenya’s ranking on the Doing Business rankings this year.
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