Nigeria Among Ten Most Improved Economies - World Bank

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Nigeria, China, and India are among ten countries in the world that improved in the ease of doing business worldwide.

 

The World Bank on Wednesday, 15th January 2020 made the disclosure.
 
Despite trade dispute, which the United States is demanding reforms from Beijing to protect intellectual property and open its economy further to American businesses, China made the top 10 list for the second year in a row.

With those improvements, China leapfrogged France to take the 31st spot in the “ease of doing business” ranking, moving up 15 places, according to the World Bank report.

Nigeria is also ranked 131 on the list after moving up by 15 places from its 2019 spot.

The report gathered that only two Sub-Saharan African economies rank in the top 50 on the ease of doing business rankings while most of the bottom 20 economies in the global rankings are from the region.

India landed on the most improved list for the third year in a row, making it easier to start a business by abolishing filing fees, lowering the time and cost of seeking construction permits and making trade easier with port improvements and an improved electronic platform for submitting documents.

The other eight economies where business climates improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, the study found.

New Zealand continues to top the global rankings, with Singapore, Hong Kong right behind, with Korea in fifth place, and the United States sixth.

The World Bank studies reforms in ten (10) areas of business activity in 190 economies, including issues like construction permits, getting electricity and paying taxes.

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