GASABO - Rwanda is expecting to move from the 139th position in the 2009 World Bank Doing Business report to a double digit position, thanks to extensive reforms aimed at creating a favourable business climate.
The 2010 World Bank Doing Business Report is set to be launched on September 9.
According to Rwanda Development Board (RDB), hopes are high that a major leap in the rankings will be made following extensive initiatives by the government to promote investment.
Having ranked 150th, out of 181 countries, in the 2008 Report, Rwanda moved 11 places, to rank 139th over all.
According to Clare Akamanzi, the RDB Deputy CEO/Business Operations and Services, government has prioritized business climate reforms as a major tool to promote Rwanda as a favourable business destination and a way of encouraging private sector development as an engine of growth and poverty reduction.
“This year, we have focused our efforts mainly on several areas with maximum impact such as starting business, issuing construction licenses/permits, labour relations, protecting investors and getting credit. There is significant progress to this end,” said Akamanzi.
According to RDB, a permanent Doing Business Reform unit was established to champion the effort of promoting investment.
Major efforts have been concentrated on short term reforms which included easing procedures to start and operate a business, streamlining construction licenses, registering property, facilitating international trade and adjusting the legal and regulatory framework.
A study done indicates that the business climate in Rwanda is increasingly becoming favourable attracting several investors, both domestic and foreign, with RDB identifying areas of reform.
“We feel it is extremely important to keep working as a team to identify and do something on these business climate reforms,” Akamanzi said.
“We do not want to limit ourselves to just being top reformers globally, Rwanda would like to be among the top countries in doing business in the World.”
The World Bank annually publishes a Doing Business Report that measures a country’s business environment by assessing performance along 10 indicators: Starting a business, construction permits, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business.
It does this in 181 countries resulting in ranking according to ease of doing business.