Kenya up 5 Places to 56 in World Bank Ease of Doing Business 2020
The Ease of Doing Business in Kenya has greatly improved According to the recently released World bank ease of doing business 2020 report. Kenya has moved to position 56 from Position 61 making Kenya the second most attractive country to do business in Sub Saharan Africa after Rwanda.
According to the report, The top 10 best places in the world to do business are;
1. New Zealand (with a score of 86.8 out of 100)
2. Singapore (86.2)
3. Hong Kong SAR
4. China (85.3)
5. Denmark (85.3)
6. The Republic of Korea (84)
7. The United States (84) Georgia (83.7)
8. The United Kingdom (83.5)
9. Norway (82.6)
10. Sweden (82).
The top best places in Africa to do business are;
4. South Africa
The Ease of doing Business in Kenya report captures several important dimensions of the regulatory environment as it applies to local firms. It provides quantitative indicators on regulation for 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
The Ease of doing business in Kenya ranking was boosted by an improvement in Business Registration Regulation, ease of acquiring construction and property permits, ease of credit access, Ease of paying taxes due to online filing of taxes, resolving insolvency issues and reduction of fees levied on building permits, which attracted more investors to the construction sector.
On the flip side, Kenya did not perform so well on the aspect of contract enforcement and Resolving Insolvency.
In conclusion the report is a good indicator that Kenya is indeed a good investment destination for both the local and foreign investors. Some of the fastest growing sectors with a lot of opportunities include the ICT sector, Agricultural Sector, Construction and the Manufacturing Sector.
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