Addis Ababa November 10/2017 Ethiopian Investment Commission (EIC) has conducted a workshop that will work to improve Ethiopia’s investment climate and its rank on the World Bank's Doing Business Report.
Speaking about the Investment Climate Reform Program, EIC Commissioner Fitsum Arega said the reform is aimed at supporting the country to improve its rank in doing business by improving the small and medium business enterprises.
The Investment Climate Reform chaired by Prime Minister Hailemariam will reportedly meet weekly to finalize the program within a few months, it was learned.
“We need to do a lot of improvement as we have learned a lot in the last two years in an effort to coordinate this initiative and improve the business climate”, Fitsum said. Doing Business report is an independent evaluation flagship of the World Bank that evaluates ease of doing business in 190 countries. Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in the ranking on 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. Doing Business also measures labor market regulation.
The indicators are used to analyze economic outcomes and identify what reforms of business regulation have worked, where and why.
Ethiopia was ranked 161 out of 190 countries in doing business in 2016/17.