Zimbabwe Improves On The Easy of Doing Business

Image Credit: The Zimbabwean

Zimbabwe has improved on the World Bank annual ratings as it moved up twice on rankings, a development that takes place at a time when the country implements the 200 days Rapid Results Initiative this year.

The country is now ranked 159 a positive move as it was on 161 out of 190 economies last year.

“Ease of Doing Business in Zimbabwe averaged 162.60 from 2008 until 2017, reaching an all time high of 171 in 2011 and a record low of 153 in 2014,” states the Trading Economics website.

The government this year is implementing 200-day Rapid Results Initiative (RRI) to accelerate synchronisation and amendment of export regulations and procedures.

Zimbabwe is also showing some improvement in its economy as it appears also on countries that reduced regulatory complexity and cost and/or strengthened legal institutions in 2016/17.

The country made it easier to start a business as it falls into the category of states that cut or simplified post-registration procedures (tax registration, social security registration, licensing).

Other economies in the same category as Zimbabwe include the Bahamas; Brunei Darussalam; Greece; India; Iraq; Kenya; Kosovo; Madagascar; Malta; Niger; Tajikistan and Thailand.

Zimbabwe is expected to grow by 2.8 percent according to the International Monetary Fund (IMF).

The Doing Business project provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the sub-national and regional level according to the World Bank.

The project which was launched in 2002 looks at domestic small and medium-size companies measuring the regulations applying them through their life cycle.

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