(MOTI) – The World Bank will issue a ranking report of 190 countries in accordance with the Ease of Doing Business Program, which was launched in 2002 to improve trade efficiency.
This level is designed to reflect the countries’ ability to do business in detail, and is indicative of the country’s attractiveness for trade and economic improvement.
In addition to business convenience, the standard also takes into account property protection.
- The convenience of starting a new business and shortening the time it takes.
- Reduce the time and process required to obtain a building permit;
- Simplify the asset registration process
- Summarize the convenience and process of obtaining a loan.
- Improve protection and support for small investors;
- Increase taxpayer experience and streamline the process.
- Ensure the timely completion and submission of contracts.
- Improve the convenience of doing business anywhere in the country.
- Being able to supply electricity in a short time and process.
- In terms of loss prevention and resolution, Ethiopia’s focus is on improving its standards.
The Ethiopian government has given priority to economic growth, especially investment flow and capacity building, to make Ethiopia a viable business country. In the process, it has significantly changed the multifaceted nature of trade and investment, improving Ethiopia’s growth rate in a short period of time. It is undertaking a series of reforms under the leadership of the Prime Minister’s Office and under the coordination of the Ministry of Trade and Industry.
In addition to the Home Grown Economic Reform Agenda, which has been announced by the administration of Prime Minister Abiy Ahmed, Dr. Modern proclamations have been developed to continuously improve proclamations and directives and simplify procedures. This clearly demonstrates the government’s commitment to making the national economy more conducive to trade.
According to the World Bank’s 2018/19 Ease of Doing Business, Ethiopia ranks 159th out of 190 countries. Ethiopia ranks 167th, especially in terms of business potential. The government is working to make Ethiopia one of the top 100 countries by the end of 2021 by implementing a number of measures to improve this low level of business viability.
Economists suggest that investors should set a number of criteria for success before investing in a variety of sectors in a country, and that international organizations should review the report on those countries.
In the face of this, Ethiopia is already doing something that can make the sector more effective, recognizing the need for an Ease of Doing Business in the global economy.
Although efforts by the previous administration to encourage private sector actors have reduced the economic role of the private sector rather than achieving the desired results. To address this, a number of initiatives have been undertaken by the government over the past three years to facilitate access to online services that will ease the burden on law enforcement. In general, these improvements are expected to provide a level playing field for the country’s emergence from a low-level, non-commercial level.
You can get more information from the Ministry of Trade and Industry by clicking on the following links.
Source: Ministry of trade and industry