In Summary

This year, the World Bank researchers said they observed a peak in reform activity worldwide with 128 economies undertaking a record 314 reforms in 2017/18.

Kampala. Government has drawn up a new policy within which it will conduct quarterly reviews on the ease of doing business.
The reviews, which will begin next financial year, will seek to improve Uganda’s poor ranking in the World Bank Ease of Doing Business report.
In the 2019 World Bank Doing Business report, Uganda was ranked 127 out of 190 surveyed countries.

This was a drop from the 2018 ranking where Uganda stood at 122.
Speaking during a breakfast meeting in Kampala on Tuesday, Dr Gabriel Ajedra, the Finance state minister in charge of general duties, said Uganda’s ranking as measured by the World Bank has remained poor thus deliberate efforts must be put in place for it to improve.
“Because Uganda has continuously been ranked lowly in the doing business report, we are fast tracking adopting quarterly reviews as one of the ways to improve our ranking,” he said.

Since its launch in 2003, the Doing Business has inspired more than 3,500 reforms in 10 areas of business regulation measured by the report.
This year, the World Bank researchers said they observed a peak in reform activity worldwide with 128 economies undertaking a record 314 reforms in 2017/18.

The World Bank said across the globe, registering a business now takes an average of 20 days and costs 23 per cent of income per capita, compared to 47 days and 76 per cent of income per capita in 2006.
Sub-Saharan Africa has had the highest number of reforms with the report capturing 107 reforms across 40 economies in the region’s private sector since 2012.

Ease of doing business ranking
Because of the World Bank annual reviews, many countries have been pushed into implementing with the average time and cost to register a business, for example, declining from 59 days and 192 per cent of the income per capita in 2006 to 23 days and 40 per cent of income per capita today. Additionally, the average paid-in minimum capital has fallen from 212 per cent of income per capita to 11 per cent of income per capita in the same period.

moketch@ug.nationmedia.com