DUBAI: UAE has been named as the Middle East’s top country in the World Bank Group’s annual ease of doing business report.
The UAE, which scored in the world’s top 10 for obtaining construction permits, connecting to electricity services and registering property was ranked 31st overall in the list.
Bahrain (65), Qatar (68), Oman (70), Saudi Arabia (82) and Kuwait (101) completed the rankings of Gulf nations as reform activity picked up slightly in the Middle East in the past year.
The report said a total of 21 reforms were implemented in 11 of the region’s 20 economies. Economies that undertook more than one reform included the UAE, Morocco, Tunisia and Algeria.
Developing economies quickened the pace of their business reforms during the last 12 months to make it easier for local businesses to start and operate, said the World Bank Group’s annual ease of doing business measurement.
Doing Business 2016: Measuring Regulatory Quality and Efficiency found that 85 developing economies implemented 169 business reforms during the past year, compared with 154 reforms the previous year.
High-income economies carried out an additional 62 reforms, bringing the total for the past year to 231 reforms in 122 economies around the world.
IMF forecasts slower growth, higher inflation for Pakistan
ISLAMABAD: The International Monetary Fund has projected slower economic growth and higher inflation for Pakistan, highlighting the need for continued...
