Between June 2, 2017, and May 1 this year, 128 governments introduced a record 314 reforms benefitting small and medium business and entrepreneurs, enabling job creation, and stimulating private investment.
These reforms are tracked – and inspired – by the World Bank Group’s Doing Business Index ranking 190 countries on the ease of doing business within their borders.
The buy-in for Doing Business was slow to come in many corners of the world after it launched in 2003. The annual ranking has become increasingly influential, as evidenced by the accelerating pace of business regulation reforms in every region. Some key
- 4 of the 10 top improvers—Afghanistan, Djibouti, Côte d’Ivoire and Togo—are countries suffering from fragility, conflict and violence
- One-third of all business regulatory reforms were in the economies of Sub-Saharan Africa—a total of 107 reforms and a record for the region
- 2 countries from Eastern Europe and Central Asia made the top 10: FYR Macedonia in 10th and Georgia, edging up two spots to 6th
- Brazil recorded the largest score improvement in Latin America and the Caribbean, reforming in four areas.
- United Arab Emirates entered the top 20 in 11th place.
- China, one of this year’s top 10 improvers, advanced more than 30 spots to 46th place in the global rankings.
- India became South Asia’s top-ranked economy, advancing 23 spots to 77th place in the global ranking.