Doing Business; Afghanistan Earns Spot Among 10 Global Improvers
Afghanistan carried out a record number of business reforms in the past year, earning the country a spot in this year’s top 10 global improvers, according to the World Bank’s report released on Wednesday.
Afghanistan carried out a record number of business reforms in the past year, earning the country a spot in this year’s top 10 global improvers, according to the World Bank’s report released on Wednesday.
With five reforms in the past year, Afghanistan advanced to 167th place in the global ease of doing business rankings, the report said.
According to the report, the latest reforms were in the Doing Business areas of Starting a Business, Getting Credit, Protecting Minority Investors, Paying Taxes, and Resolving Insolvency.
“Improving the business environment is essential for Afghanistan to stimulate domestic investment and create jobs. Given the exceptional challenges of conflict and violence in the country, the government’s resolve to improve the business climate for private enterprise is doubly commendable,” said Shubham Chaudhuri, World Bank Country Director for Afghanistan. “We look forward to continuing to record Afghanistan’s successes in years to come.”
During the past year, Afghanistan made Starting a Business less costly by reducing the fees for business incorporation. As a result, the cost for an entrepreneur to start business in the country has significantly been reduced from 82.3 percent of the income per capita to only 6.4 percent.
Afghanistan has a global ranking of 26 in the area of Protecting Minority Investors.
Afghanistan also adopted a new insolvency framework in 2018.
