The International Finance Corporation (IFC) and the World Bank (WB) have just published the report “Doing Business in the East African Community 2012.”
According to the study, 2010/11 saw improvements to the business environment in all five economies of the East African Community (EAC): Burundi, Kenya, Rwanda, Tanzania and Uganda.
The EAC saw its five governments implement a total of 10 regulatory reforms last year to improve the business environment for local businesses and encourage entrepreneurship in the region. Continuous improvement of the business environment is important for economies seeking to benefit from increased trade and investment through regional integration.
Here’s a summary of the report’s main findings:
– Over the past seven years, all five EAC economies implemented a total of 62 regulatory reforms which have helped to improve the business environment for local entrepreneurs.
– Burundi was among the most active economies in the world, implementing regulatory reforms across several areas in 2010/11. Burundi implemented policy changes in four key areas measured by Doing Business: dealing with construction permits, paying taxes, protecting investors and resolving insolvency.
-Rwanda made the greatest progress in improving its business environment between 2005 and 2011, followed by Burundi.Rwanda was also the second economy globally to advance in closing the gap to the frontier.
– Sharing good practices could bring East Africa closer to global top performers.
– New data show the importance of access to regulatory information. The rise in e-government initiatives in the region and around the world provides an opportunity to increase access to information and transparency
Read the full report on the web.