BusinessNational

World Bank ranks Zim among top 10 improvers on easy of doing business

Business Reporter

Zimbabwe may have recorded a significant rise on the implementation of polices to enhance easy of doing business. This follows a survey done by the World Bank.

Ministry of Finance and Economic Development briefed the Government last week Tuesday during the onset of Press Cabinet Briefing.

“The Ease of Doing Business assessment ranks the country’s business environment based on a set of indicators compiled by the World Bank Doing Business Project which cover ten (10) areas in the life cycle of a business.”

According to the government, current forms of legislation weighed in to give a remarkable progress. This include Zimbabwe Investment Development Agency(ZIDA) and establishment of new courts within judiciary systems.

“During the 2019/2020 period, Zimbabwe was ranked among the top twenty improvers in Doing Business Reforms. In general, there has been considerable progress in the country’s World Bank ranking from number 171 out of 190 countries in 2015 to the current position of 140 out of 191 countries,” says Information,Publicity and Broadcasting Services Minister, Monica Mutsvangwa.

“To date, eight (8) of the ten (10) pieces of legislation requiring amendment or enactment have been assented to. Zimbabwe Investment Development Agency (ZIDA) was established in 2019, while four commercial courts have been set up in the major cities and some administrative procedures streamlined to reduce investment-related bottlenecks.”

Amid all significant progress recorded, poverty situation for the country is likely to remain the same. The same World Bank, earlier this year projected a deterioration of Zimbabwe’s economic situation. Massive poverty was seen as inevitable.

Tendai Guvamombe