Bahrain among top 20 improvers in ‘Doing Business 2020’: World Bank

Bahrain is among the 20 economies that have improved most on the World Bank’s ‘Ease of Doing Business’ score based on improvements across 10 different regulatory areas Six Arab countries are there on the current list of top 20 improvers released ahead of the final ’Doing Business 2020’ list to be disclosed on October 24, 2019. “Bahrain implemented a comprehensive reform programme, making it easier to do business in nine of the 10 areas included in the ease of doing business ranking (all but starting a business),” the report said.

Movement of goods across the King Fahd Causeway has improved thanks to the deployment of new scanners and introduction of differentiated lanes for border crossing as part of Economic vision 2030. Kingdom’s property registration is easier now following the launch of a new electronic system. Besides, Bahrain adopted a new law on insolvency that gives the option of filing for reorganisation and protections for secured creditors during an automatic stay in reorganization proceedings. Bahrain also introduced dedicated venues to resolve commercial disputes with electronic service of process, the report said.

Bahrain ranked 62 in 2019 The Doing Business project, launched in 2002, looks at domestic small and medium-sized companies and measures the regulations applying to them through their life cycle. In the World Bank ‘Ease of Doing Business 2019’ report, Bahrain was ranked 62 with a score of 69.85 on a list of 190 world economies. The listed countries are not the ‘Top 20’ ranked countries on the ‘Doing Business List 2020” due to be released later this month.

Instead, the current list identifies the economies that made the most progress in their business score since last year’s edition. Selected economies implemented reforms making it easier to do business in three or more of the 10 areas in this year’s aggregate ease of doing the business score. The list was further tightened based on the increase in their ease of doing business score due to reforms from the previous year. Other Arab countries among the top 20 improvers are Djibouti, Jordan, Kuwait, Qatar and Saudi Arabia.

Saudi improved in nine areas

“Saudi Arabia improved in nine areas measured by Doing Business 2020, supported by reforms under its Vision 2030 plan,” the report said. World Bank said Saudi established a one-stop-shop for starting a business and no longer requires married women to provide additional documents when applying for a national identity card. Reforms like the new building code, online platform for building permits, a geographic information system to simplify review of new electrical connection requests made the kingdom’s business environment more attractive.

Others include strengthened access to credit by introducing new laws on secured transactions and insolvency, increased access to evidence at trial, updated insolvency framework by introducing a reorganisation procedure and hassle-free import proceeders by upgrading systems at the Jeddah Port.

Kuwait

According to the report, It’s now easier for entrepreneurs in Kuwait to obtain a commercial license when starting a business. The process of getting a new electricity connection was simplified. Registering property transfers is also faster thanks to an online system launched and a one-stop-shop launched by the Ministry of Justice. Kuwait improved access to credit information by guaranteeing borrowers the legal right to inspect their credit data and offering credit scores.

Besides, Kuwait amended its company law to help shareholders be better informed. The kingdom also made trading across borders easier by improving its customs risk management system and implementing a new electronic clearance system. The other in the top 20 list are Azerbaijan, Bangladesh, China, India, Kosovo, Pakistan, Tajikistan, Togo, Uzbekistan and Zimbabwe.

India improved in four areas

India, the report said, made it easier to do business in four areas measured by Doing Business. The most improved business regulatory areas have been starting a business, dealing with construction permits and resolving insolvency. Authorities in Mumbai and New Delhi made it easier to obtain construction permits by introducing a single-window clearance system.

Starting a business is now less costly thanks to abolished filing fees for the SPICe company incorporation form, electronic memorandum of association and articles of association. Exporting and importing is also easier following the integration of several government agencies into an online system and the upgrading of port equipment and infrastructure.

India’s achievements this year build on a sustained multi-year reform effort. Since 2003/04, India has implemented 48 reforms captured by Doing Business, the report said.