50626 Kampala
A new report on doing business in East Africa has indicated that in a year of fast-paced reform, the region’s economies have continued to improve performances.
The report entitled: Doing Business in the East African Community 2010, was prepared as part of the EAC forecasted need to improve on the region’s investment climate. It draws data of the annual global Doing Business study and takes a detailed look at business regulations in Burundi, Kenya, Rwanda, Tanzania, and Uganda.
The report authored by the International Finance Corporation and the World Bank Group notes that the region’s economies are at different stages of regulatory reforms and the average ranking for the countries was 116 out of 183 economies overall in the Doing Business 2010 report. It however adds that if each East African country were to adopt the region’s best practices for each doing business indicators, East Africa would be ranked at position 12.
In his remarks at the launch of the report on Monday the EAC Secretary General Ambassador Juma Mwapachu said: “A key objective of the EAC is to develop an effective common market. The Report provides a good basis for comparing regulatory performance across the region, and how this contributes to deeper regional integration”.
Mr Mwapachu said partner states are in the process of harmonising all the laws pertaining to doing business with the view to getting rid of all the “inconveniencing” tax practices that impede business and investment in the region.
A new report on doing business in East Africa has indicated that in a year of fast-paced reform, the region’s economies have continued to improve performances.
The report entitled: Doing Business in the East African Community 2010, was prepared as part of the EAC forecasted need to improve on the region’s investment climate. It draws data of the annual global Doing Business study and takes a detailed look at business regulations in Burundi, Kenya, Rwanda, Tanzania, and Uganda.
The report authored by the International Finance Corporation and the World Bank Group notes that the region’s economies are at different stages of regulatory reforms and the average ranking for the countries was 116 out of 183 economies overall in the Doing Business 2010 report. It however adds that if each East African country were to adopt the region’s best practices for each doing business indicators, East Africa would be ranked at position 12.
In his remarks at the launch of the report on Monday the EAC Secretary General Ambassador Juma Mwapachu said: “A key objective of the EAC is to develop an effective common market. The Report provides a good basis for comparing regulatory performance across the region, and how this contributes to deeper regional integration”.
Mr Mwapachu said partner states are in the process of harmonising all the laws pertaining to doing business with the view to getting rid of all the “inconveniencing” tax practices that impede business and investment in the region.
