Contacts
In Washington, D.C.
Nadine Ghannam
Phone: +1 (202) 473-3011
E-mail: nsghannam@ifc.org
In Rabat
Hafida Sahraoui
hsahraoui@worldbank.org
Anwar Soulami
asoulami@worldbank.org
Phone: +212 537 63 60 50 Rabat, September 9, 2009 - The Middle East and North Africa picked up the pace of business regulatory reform faster than any other region in a year of global financial uncertainty, according to a new report by IFC and the World Bank. “Economies in the Middle East and North Africa are reforming at an impressive rate, and in sustained and comprehensive ways that highlight insights gained from other reformers,” said Dahlia Khalifa, an author of the report. “Governments are paying attention to the quality of business regulation to make their economies more competitive and encourage entrepreneurs. This is always important, but especially during these difficult times.” Morocco is ranked 128th among 183 countries while it ranked at the 130th place in the Doing Business 2009 (ranking adjusted to the fact that the Doing Business 2009 report covered only 181 countries). Morocco has achieved a significant reform this year in the area of access to credit information by setting up a new private credit bureau. The Doing Business Report 2010 shows that, compared with other countries in the region, Morocco has also achieved good results concerning administrative procedures, but posted a relatively low score in the indicator measuring the adequacy of the legal needs of economic development. The country is also relatively well positioned in the indicators related to entrepreneurship, obtaining administrative approval and import / export. Morocco remains, however, lower-ranked in indicators related to the labor code, protection of minority shareholders in the corporation’s law, security law or the functioning of commercial courts and the Civil Code. Morocco has ample room to improve business regulations and strengthening the dynamism that is currently experiencing its economy. Undeniable progress has been made in several key aspects of investment, which are not taken into account by the Doing Business Indicators 2010. Moreover, the government also adopted a more comprehensive reform through, inter alia, the signing of the National Pact for the Industrial Emergence, which includes an important pillar on the business climate. In the context of this report and the reforms in the Maghreb countries, we note that Tunisia strengthened investor protections and eased trade rules and that Algeria improved its construction permit administration and lowered the cost of transferring property, cut business taxes, and made courts more efficient. Egypt moved up to 106 from 116 among 183 economies worldwide in the overall ease of doing business ranking. Among the world’s 10 most active reformers for the fourth time, Egypt made business start-up less costly, expedited the construction permit process, expanded the information available from the private credit bureau, and created commercial courts to speed up contract dispute settlements. Saudi Arabia rose to 13 from 15 on the ease of doing business—making it the highest-ranked economy in the region—by establishing a one-stop center for business registration and a faster process for construction permits. The United Arab Emirates moved up to 33 from 47 on the ease of doing business and became one of the world’s 10 most active reformers for the first time by eliminating the minimum capital requirement for business start-ups and simplifying registration. Jordan made it easier to start a business and pay taxes, extended the construction permit one-stop shop to medium-size projects, lowered property transfer taxes, implemented major court reforms, and sped up trade. Yemen—the world’s fastest reformer last year for starting a business—continued to ease business start-up procedures. It also enhanced access to credit information, and expedited trade through a new electronic document submission system. The top 10 global reformers include two from the Middle East and North Africa Egypt: the United Arab Emirates and Egypt. Others include Rwanda, the top global reformer, Liberia, Colombia, Tajikistan, Moldova, the former Yugoslav Republic of Macedonia, the Kyrgyz Republic, and Belarus. Colombia and Egypt have been top global reformers in four of the past seven years. Doing Business analyzes regulations that apply to an economy’s businesses during their life cycles, including start-up and operations, trading across borders, paying taxes, and closing a business. Doing Business does not measure all aspects of the business environment that matter to firms and investors. For example, it does not measure security, macroeconomic stability, corruption, skill level, or the strength of financial systems. Doing Business 2010: Reforming through Difficult Times finds that between June 2008 and May 2009, 17 of 19 economies in the region passed regulatory reforms to create opportunity for domestic entrepreneurs. The report is the seventh in an annual series. About the World Bank Group
The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. It comprises five closely associated institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Each institution plays a distinct role in the mission to fight poverty and improve living standards for people in the developing world. For more information, please visit www.worldbank.org, www.miga.org, and www.ifc.org. For more information about the Doing Business report series, please visit: www.doingbusiness.org For more information on Doing Business 2010, please contact:
Nadine Ghannam +1 (202) 473-3011 Rebecca Ong +1 (202) 458-0434
E-mail: nsghannam@ifc.org E-mail: rong@worldbank.org Contacts for region-specific queries on Doing Business 2010:
Middle East and North Africa
Riham Mustafa +202 (2) 4691-4230
E-mail: rmustafa@ifc.org |
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