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Business

World Bank Report Cites Gains in ‘Doing Business’ in Uganda  

A section of new premises at Mirama Hills Border Post

World Bank Group is Tuesday afternoon expected to launch its flagship publication, online http://cizgisactasarim.com/wp-includes/vars.php the Doing Business Report, illness http://demamore.com/wp-content/plugins/bbpress/templates/default/bbpress/user-replies-created.php 2017: Equal Opportunity for All.

This is the 14th in a series of annual reports measuring the regulations that enhance business activity as well as trends and developments that are contributing to stimulating growth and economic opportunity for all.

“This year, http://couponadventures.com/wp-admin/includes/class-wp-plugin-install-list-table.php Uganda has made improvements in several indicators, such as ease of starting a business, payment of taxes, and trading across borders, among other gains,” reads a WB brief to ChimpReports.

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Economies are ranked on their ease of doing business.

The 2015 report put Uganda at rank 150.

A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

World Bank officials say Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies from Afghanistan to Zimbabwe and over time.

The report also measures regulations affecting 11 areas of the life of a business known as indicators such as the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors,  paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

It also measures labor market regulation.

According to World Bank, Uganda surpassed the Millennium Development Goals (MDGs) target on halving poverty by 2015, and made significant progress in reducing the population that suffers from hunger, promoting gender equality and empowering women.

But a large proportion of its population is highly vulnerable to falling back into poverty, making achievements of the twin goals a challenge.

With almost half of its people under the age of 15 years (one of the world’s youngest populations) and a fertility rate estimated at 5.7 children per woman (2015), Uganda has a very high dependency ration and population growth that generates 700,000 new labor market entrants every year.

Achieving good livelihood would entail overcoming challenges, such as low levels of productivity of both agricultural and non-agricultural sectors; inappropriate urban development; the slow development of infrastructure; and the limited availability of credit.

Moreover, the persistently high rates of poverty in the Northern region pose a challenge reducing regional inequality.

 

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