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WB hails Afghan business licence reform

WB hails Afghan business licence reform

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On
Oct 30, 2013 - 15:41

KABULinfo-icon (PANinfo-icon): The Worldinfo-icon Bank on Wednesday acknowledged Afghanistaninfo-icon had made starting a business easier by reducing the time and cost to obtain a business licence and eliminating the inspection of the premises of newly registered companies.

In a new report released today, the World Bank Group -- comprising five closely associated institutions -- confirmed Afghanistan had strengthened its secured transactions system by implementing a unified collateral registry.

Titled Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises, the report  said six of eight economies in South Asia had completed reforms simplifying business start-up, strengthening access to credit or easing the process for paying taxes.

Rita Ramalho, lead author of the report, said:  “Doing Business is about smart business regulations, not necessarily fewer regulations. We are encouraged by the rapid pace of regulatory reform in South Asia…”

The report’s global annual ranking puts Singapore in the top slot. Joining it on the list of the top 10 economies with the most business-friendly regulations are Hong Kong, China, New Zealand, the US, Denmark; Malaysia, the Republic of Korea, Georgia, Norway and the United Kingdom.

pr/mud

 

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