2019 were in the economies of sub-Sahara Africa with a total of 107 reforms of the sub-Sahara region. The BRIC economies like Brazil, the Russian Federation, India and China introduced a total of 21 reforms with getting electricity and trading across borders the most common areas of improvement.

The 10 top economics in the ease of doing business ranking as noted under share common features of regulatory e�ciency and quality, including mandatory inspection during construction, automated tools used by distribution utilities to restore service during power outages, strong safeguards available to creditors in insolvency proceedings and automated specialized commercial courts. The 10 top economies are listed in the following table:

The economies that ranked highest as in the table are those

that have consistently well designed business regulations or whose regulatory environments have thrived with the comprehensive reforms over the years. The top three economies this year New Zealand, Singapore and Denmark exemplify a business friendly environment.

The developing countries like Bangladesh should endeavour to amend their business regulations through reforms undertaken by concerned agencies and follow the steps taken by other countries notably the developed countries in this regard. If everything goes well in the right direction with the sincere e�orts of the concerned authorities, Bangladesh is expected to attain the ranking position at 100 against the present status of 176 within a short period of time which will be something tangible achievement of the Vision 2021.

the distribution Utilities are now able to accommodate more connection request and thereby reducing the time request for business to obtain a new electricity connection from more than 400 days in 2014 to less than 150 days in 2018. Bangladesh has taken an action plan to remove the barriers in Doing Business and to improve the Ease of Doing Business so that the rank comes down to 100 by 2021.

According to Mr. Zahid Hossain, Lead Economist of The World Bank, Dhaka, the action plan of the govt. is on track. However, in reaping the benefits, the govt. has to implement the action plan in right direction, but it is not happening so due to lack of institutional capacity. According to him, if there is accountabilities and a time bound plan and the govt. implements the plan e�ectively within the deadlines it would help to improve the ranking.

South Asia continues on a strong reform agenda which is possible due to political commitments of the govt. and the hard work that is involved in improving the domestic investment climates. This is particularly commendable in case of Afghanistan, where conflict and insecurity make the working so much more challenging, said Rita Ramalho, Senior Manager of the World Bank’s global Indicators Group, which produces the report. The results from the Doing Business 2019 report are great news for

ase of Doing Business has been sponsored by The World Bank Group and it

has been functioning since 2003. It deals with aspects of business regulations a�ecting small and medium sized domestic firms located in the largest business city of 190 economies across the globe. Doing Business covers 11 areas of business regulations, 10 of which are (1) Starting a business, (2) dealing with construction permits, (3) getting electricity, (4) registering property, (5) getting credit, (6) protecting minority investors, (7) paying taxes, (8) trading across borders, (9) enforcing contracts and (10) resolving insolvency.

These areas are considered while the score and the ease of doing business ranking are taken into account.

As per survey of The World Bank Group who prepared the report on “Ease of Doing Business 2019”, Bangladesh ranked 176 out of 190 countries.

The poor ranking is due to the weakness of the Regulatory Authorities and the poor governance of the concerned sectors of Bangladesh. To improve its ranking the World Bank recommended regulatory reforms to make Doing Business easier. On the basis of this recommendation Bangladesh has continued to invest in the electricity grid over the past 12 months. As a result there is a lot of improvement in the electricity supply and therefore

The Author is aChartered Accountant and

a Fellow Member of theInstitute of Chartered Accountants

of Bangladesh-ICAB

E

Ease of Doing Business Globallyand Ranking of Bangladesh

A Wahab FCA

35APRIL - JUNE 2019 | The Bangladesh Accountant

ARTICLE

South Asia and underscore the needs to persist with challenging reforms that can provide more opportunities for people to lift themselves out of poverty and spread prosperity move widely said Hartwig Schafer, Vice-President for the South Asia region of the World Bank. He says “we are looking forward to working with govt. s of the South Asia region to achieve more gains in coming years.” Dealing with di�erent aspects of the economic activities of the 190 global economies in the Ease of Doing Business, The World Bank Group came to the conclusion that New Zealand with a population of 47.90 lacs scored 86.59 points on average and topped the list.

The achievements of New Zealand in di�erent areas of economic activities are:

2019 were in the economies of sub-Sahara Africa with a total of 107 reforms of the sub-Sahara region. The BRIC economies like Brazil, the Russian Federation, India and China introduced a total of 21 reforms with getting electricity and trading across borders the most common areas of improvement.

The 10 top economics in the ease of doing business ranking as noted under share common features of regulatory e�ciency and quality, including mandatory inspection during construction, automated tools used by distribution utilities to restore service during power outages, strong safeguards available to creditors in insolvency proceedings and automated specialized commercial courts. The 10 top economies are listed in the following table:

The economies that ranked highest as in the table are those

that have consistently well designed business regulations or whose regulatory environments have thrived with the comprehensive reforms over the years. The top three economies this year New Zealand, Singapore and Denmark exemplify a business friendly environment.

The developing countries like Bangladesh should endeavour to amend their business regulations through reforms undertaken by concerned agencies and follow the steps taken by other countries notably the developed countries in this regard. If everything goes well in the right direction with the sincere e�orts of the concerned authorities, Bangladesh is expected to attain the ranking position at 100 against the present status of 176 within a short period of time which will be something tangible achievement of the Vision 2021.

the distribution Utilities are now able to accommodate more connection request and thereby reducing the time request for business to obtain a new electricity connection from more than 400 days in 2014 to less than 150 days in 2018. Bangladesh has taken an action plan to remove the barriers in Doing Business and to improve the Ease of Doing Business so that the rank comes down to 100 by 2021.

According to Mr. Zahid Hossain, Lead Economist of The World Bank, Dhaka, the action plan of the govt. is on track. However, in reaping the benefits, the govt. has to implement the action plan in right direction, but it is not happening so due to lack of institutional capacity. According to him, if there is accountabilities and a time bound plan and the govt. implements the plan e�ectively within the deadlines it would help to improve the ranking.

South Asia continues on a strong reform agenda which is possible due to political commitments of the govt. and the hard work that is involved in improving the domestic investment climates. This is particularly commendable in case of Afghanistan, where conflict and insecurity make the working so much more challenging, said Rita Ramalho, Senior Manager of the World Bank’s global Indicators Group, which produces the report. The results from the Doing Business 2019 report are great news for

ase of Doing Business has been sponsored by The World Bank Group and it

has been functioning since 2003. It deals with aspects of business regulations a�ecting small and medium sized domestic firms located in the largest business city of 190 economies across the globe. Doing Business covers 11 areas of business regulations, 10 of which are (1) Starting a business, (2) dealing with construction permits, (3) getting electricity, (4) registering property, (5) getting credit, (6) protecting minority investors, (7) paying taxes, (8) trading across borders, (9) enforcing contracts and (10) resolving insolvency.

These areas are considered while the score and the ease of doing business ranking are taken into account.

As per survey of The World Bank Group who prepared the report on “Ease of Doing Business 2019”, Bangladesh ranked 176 out of 190 countries.

The poor ranking is due to the weakness of the Regulatory Authorities and the poor governance of the concerned sectors of Bangladesh. To improve its ranking the World Bank recommended regulatory reforms to make Doing Business easier. On the basis of this recommendation Bangladesh has continued to invest in the electricity grid over the past 12 months. As a result there is a lot of improvement in the electricity supply and therefore

36 APRIL - JUNE 2019 | The Bangladesh Accountant

Ease of Doing Business Globallyand Ranking of Bangladesh

South Asia and underscore the needs to persist with challenging reforms that can provide more opportunities for people to lift themselves out of poverty and spread prosperity move widely said Hartwig Schafer, Vice-President for the South Asia region of the World Bank. He says “we are looking forward to working with govt. s of the South Asia region to achieve more gains in coming years.” Dealing with di�erent aspects of the economic activities of the 190 global economies in the Ease of Doing Business, The World Bank Group came to the conclusion that New Zealand with a population of 47.90 lacs scored 86.59 points on average and topped the list.

The achievements of New Zealand in di�erent areas of economic activities are:

Ease of doing business rank (1-190) I 1) Starting a business (rank) 1 Score for starting a business (0-100) 99.98 Procedures (number) 1 Time (days) 0.5 Cost (% of income per capita) 0.2 Minimum capital (% of income per capita) 0.0 2) Dealing with construction permits (rank) 6 Score for dealing with construction permits (0-100) 86.40 Procedures (number) 11 Time (days) 93 Cost (% of warehouse value) 2.2 Building quality control index (0-15) 15.0

3) Getting electricity (rank) 45 Score for getting electricity (0-100) 83.98 Procedures (number) 5 Time (days) 58 Cost (% of income per capita) 68.0 Reliability of supply and transparency of tari�s index (0-8) 7 4) Registering Property (rank) 1 Score for registering property (0-100) 94.89 Procedures (number) 2 Time (day) 1 Cost (% of property value) 0.1 Quality of land administration index (0-30) 26.5 Ease of doing business score (0-100) 86.59

5) Getting credit (rank) 1 Score for getting credit (0-100) 100.00 Strength of legal rights index (0-12) 12 Depth of credit information index (0-8) 8 Credit bureau coverage (% of adults) 100.00 Credit registry coverage (% of adults) 0.0 6) Protecting minority investors (rank) 2 Score for protecting minority investors (0-100) 81.67 Extent of disclosure index (0-10) 10 Extent of director liability index (0-10) 9 Ease of shareholder suits index (0-10) 9 Extent of shareholder rights index (0-10) 7 Extent of ownership and control index (0-10) 7 Extent of corporate transparency index (0-10) 7

2019 were in the economies of sub-Sahara Africa with a total of 107 reforms of the sub-Sahara region. The BRIC economies like Brazil, the Russian Federation, India and China introduced a total of 21 reforms with getting electricity and trading across borders the most common areas of improvement.

The 10 top economics in the ease of doing business ranking as noted under share common features of regulatory e�ciency and quality, including mandatory inspection during construction, automated tools used by distribution utilities to restore service during power outages, strong safeguards available to creditors in insolvency proceedings and automated specialized commercial courts. The 10 top economies are listed in the following table:

The economies that ranked highest as in the table are those

that have consistently well designed business regulations or whose regulatory environments have thrived with the comprehensive reforms over the years. The top three economies this year New Zealand, Singapore and Denmark exemplify a business friendly environment.

The developing countries like Bangladesh should endeavour to amend their business regulations through reforms undertaken by concerned agencies and follow the steps taken by other countries notably the developed countries in this regard. If everything goes well in the right direction with the sincere e�orts of the concerned authorities, Bangladesh is expected to attain the ranking position at 100 against the present status of 176 within a short period of time which will be something tangible achievement of the Vision 2021.

the distribution Utilities are now able to accommodate more connection request and thereby reducing the time request for business to obtain a new electricity connection from more than 400 days in 2014 to less than 150 days in 2018. Bangladesh has taken an action plan to remove the barriers in Doing Business and to improve the Ease of Doing Business so that the rank comes down to 100 by 2021.

According to Mr. Zahid Hossain, Lead Economist of The World Bank, Dhaka, the action plan of the govt. is on track. However, in reaping the benefits, the govt. has to implement the action plan in right direction, but it is not happening so due to lack of institutional capacity. According to him, if there is accountabilities and a time bound plan and the govt. implements the plan e�ectively within the deadlines it would help to improve the ranking.

South Asia continues on a strong reform agenda which is possible due to political commitments of the govt. and the hard work that is involved in improving the domestic investment climates. This is particularly commendable in case of Afghanistan, where conflict and insecurity make the working so much more challenging, said Rita Ramalho, Senior Manager of the World Bank’s global Indicators Group, which produces the report. The results from the Doing Business 2019 report are great news for

ase of Doing Business has been sponsored by The World Bank Group and it

has been functioning since 2003. It deals with aspects of business regulations a�ecting small and medium sized domestic firms located in the largest business city of 190 economies across the globe. Doing Business covers 11 areas of business regulations, 10 of which are (1) Starting a business, (2) dealing with construction permits, (3) getting electricity, (4) registering property, (5) getting credit, (6) protecting minority investors, (7) paying taxes, (8) trading across borders, (9) enforcing contracts and (10) resolving insolvency.

These areas are considered while the score and the ease of doing business ranking are taken into account.

As per survey of The World Bank Group who prepared the report on “Ease of Doing Business 2019”, Bangladesh ranked 176 out of 190 countries.

The poor ranking is due to the weakness of the Regulatory Authorities and the poor governance of the concerned sectors of Bangladesh. To improve its ranking the World Bank recommended regulatory reforms to make Doing Business easier. On the basis of this recommendation Bangladesh has continued to invest in the electricity grid over the past 12 months. As a result there is a lot of improvement in the electricity supply and therefore

37APRIL - JUNE 2019 | The Bangladesh Accountant

ARTICLE

South Asia and underscore the needs to persist with challenging reforms that can provide more opportunities for people to lift themselves out of poverty and spread prosperity move widely said Hartwig Schafer, Vice-President for the South Asia region of the World Bank. He says “we are looking forward to working with govt. s of the South Asia region to achieve more gains in coming years.” Dealing with di�erent aspects of the economic activities of the 190 global economies in the Ease of Doing Business, The World Bank Group came to the conclusion that New Zealand with a population of 47.90 lacs scored 86.59 points on average and topped the list.

The achievements of New Zealand in di�erent areas of economic activities are:

7) Paying taxes (rank) 10 Score for paying taxes (0-100) 91.08 Payments (number per year) 7 Time (hours per year) 140 Total tax and contribution rate (% of profit) 34.6 Post filing index (0-100) 96.90 Population 4,793,900

8) Trading across borders (rank) 60 Score for trading across borders (0-100) 84.63 Time to export Documentary compliance (hours) 3 Border compliance (hours) 37 Cost to export Documentary compliance (US$) 67 Border compliance (US$) 337 Time to import Documentary compliance (hours) 1 Border compliance (hours) 25 Cost to import Documentary compliance (US$) 80 Border compliance (US$) 367

9) Enforcing contracts (rank) 21 Score for enforcing contracts (0-100) 71.48 Time (days) 216 Cost (% of claim value) 27.2 Quality of Judicial processes index (0-18) 9.5 10) Resolving insolvency (rank) 31 Score for resolving insolvency (0-100) 71.41 Time (years) 1.3 Cost (% of estate) 3.5 Recovery rate (cents on the dollar) 84.1 Strength of insolvency framework index (0-16) 8.5

In case of Bangladesh the achievements are as follows:

Ease of doing business rank (1-190) 176 1) Starting a business (rank) 138 Score for starting a business (0-100) 80.82 Procedures (number) 9 Time (days) 19.5 Cost (% of income per capita) 21.2 Minimum capital (% of income per capita) 0.0

Bangladesh ranked 176th in

the 2019 version of the 'Ease of

Doing Business' index of the World Bank

(WB) and International

Finance Corporation.

Bangladesh has not only failed to improve its position in this

index, it has rather slipped

by 111 notches in the past 13

years.

SOURCEThe Financial Express

6th April 2019

2019 were in the economies of sub-Sahara Africa with a total of 107 reforms of the sub-Sahara region. The BRIC economies like Brazil, the Russian Federation, India and China introduced a total of 21 reforms with getting electricity and trading across borders the most common areas of improvement.

The 10 top economics in the ease of doing business ranking as noted under share common features of regulatory e�ciency and quality, including mandatory inspection during construction, automated tools used by distribution utilities to restore service during power outages, strong safeguards available to creditors in insolvency proceedings and automated specialized commercial courts. The 10 top economies are listed in the following table:

The economies that ranked highest as in the table are those

that have consistently well designed business regulations or whose regulatory environments have thrived with the comprehensive reforms over the years. The top three economies this year New Zealand, Singapore and Denmark exemplify a business friendly environment.

The developing countries like Bangladesh should endeavour to amend their business regulations through reforms undertaken by concerned agencies and follow the steps taken by other countries notably the developed countries in this regard. If everything goes well in the right direction with the sincere e�orts of the concerned authorities, Bangladesh is expected to attain the ranking position at 100 against the present status of 176 within a short period of time which will be something tangible achievement of the Vision 2021.

the distribution Utilities are now able to accommodate more connection request and thereby reducing the time request for business to obtain a new electricity connection from more than 400 days in 2014 to less than 150 days in 2018. Bangladesh has taken an action plan to remove the barriers in Doing Business and to improve the Ease of Doing Business so that the rank comes down to 100 by 2021.

According to Mr. Zahid Hossain, Lead Economist of The World Bank, Dhaka, the action plan of the govt. is on track. However, in reaping the benefits, the govt. has to implement the action plan in right direction, but it is not happening so due to lack of institutional capacity. According to him, if there is accountabilities and a time bound plan and the govt. implements the plan e�ectively within the deadlines it would help to improve the ranking.

South Asia continues on a strong reform agenda which is possible due to political commitments of the govt. and the hard work that is involved in improving the domestic investment climates. This is particularly commendable in case of Afghanistan, where conflict and insecurity make the working so much more challenging, said Rita Ramalho, Senior Manager of the World Bank’s global Indicators Group, which produces the report. The results from the Doing Business 2019 report are great news for

ase of Doing Business has been sponsored by The World Bank Group and it

has been functioning since 2003. It deals with aspects of business regulations a�ecting small and medium sized domestic firms located in the largest business city of 190 economies across the globe. Doing Business covers 11 areas of business regulations, 10 of which are (1) Starting a business, (2) dealing with construction permits, (3) getting electricity, (4) registering property, (5) getting credit, (6) protecting minority investors, (7) paying taxes, (8) trading across borders, (9) enforcing contracts and (10) resolving insolvency.

These areas are considered while the score and the ease of doing business ranking are taken into account.

As per survey of The World Bank Group who prepared the report on “Ease of Doing Business 2019”, Bangladesh ranked 176 out of 190 countries.

The poor ranking is due to the weakness of the Regulatory Authorities and the poor governance of the concerned sectors of Bangladesh. To improve its ranking the World Bank recommended regulatory reforms to make Doing Business easier. On the basis of this recommendation Bangladesh has continued to invest in the electricity grid over the past 12 months. As a result there is a lot of improvement in the electricity supply and therefore

South Asia and underscore the needs to persist with challenging reforms that can provide more opportunities for people to lift themselves out of poverty and spread prosperity move widely said Hartwig Schafer, Vice-President for the South Asia region of the World Bank. He says “we are looking forward to working with govt. s of the South Asia region to achieve more gains in coming years.” Dealing with di�erent aspects of the economic activities of the 190 global economies in the Ease of Doing Business, The World Bank Group came to the conclusion that New Zealand with a population of 47.90 lacs scored 86.59 points on average and topped the list.

The achievements of New Zealand in di�erent areas of economic activities are:

38 APRIL - JUNE 2019 | The Bangladesh Accountant

Ease of Doing Business Globallyand Ranking of Bangladesh

2) Dealing with construction permits (rank) 138 Score for dealing with construction permits (0-100) 60.82 Procedures (number) 15.8 Time (days) 273.5 Cost (% of warehouse value) 1.8 Building quality control index (0-15) 10.0

3) Getting electricity (rank) 179 Score for getting electricity (0-100) 30.81 Procedures (number) 8.6 Time (days) 150.2 Cost (% of income per capita) 2155.9 Reliability of supply and transparency of tari�s index (0-8) 0

4) Registering Property (rank) 183 Score for registering property (0-100) 28.91 Procedures (number) 8 Time (days) 270.8 Cost (% of property value) 7.2 Quality of land administration Index (0-30) 6.5 Ease of doing business score (0-100) 41.97

5) Getting credit (rank) 161 Score for getting credit (0-100) 25.00 Strength of legal rights index (0-12) 5 Depth of credit information index (0-8) 0 Credit bureau coverage (% of adults) 0.0 Credit registry coverage (% of adults) 3.2

6) Protecting minority investors (rank) 89 Score for protecting minority investors (0-100) 55.00 Extent of disclosure index (0-10) 6 Extent of director liability index (0-10) 7 Ease of shareholder suits index (0-10) 7 Extent of shareholder rights index (0-10) 5 Extent of ownership and control index (0-10) 3 Extent of corporate transparency index (0-10) 5

7) Paying taxes (rank) 151 Score for paying taxes (0-100) 56.13 Payments (number per year) 33 Time (hours per year) 435 Total tax and contribution rate (% of profit) 33.4 Post filing index (0-100) 44.36 Population 164,669,751

Bangladesh has received a record amount of foreign direct investment (FDI) in 2018 with China being the

leading investor in the country.

Executive Chairman of Bangladesh Investment

Development Authority (BIDA)

Kazi M Aminul Islam said, the

$3.6 billion FDI in 2018 was 68 per cent more than

the previous year.

SOURCEThe Financial Express

9th May 2019

The ease of doing business ranking are bench marked to May 2018 and based on the average of each economy’s doing business scores for the 10 topics as above included in the aggregate ranking.

While preparing the report on the basis of the collected data, it has been considered that an economy cannot thrive without a healthy private sector. When local businesses flourish they create jobs and create income and it adds to the GDP of the nation.

It is a fact that any rational government that cares for the welfare of the citizens, it pays special attention to laws and regulations of the country that a�ect the local small and medium sized enterprises creating employment opportunities. Also e�ective business regulation a�ords micro and small firms the opportunity to grow, innovate and when applicable from the informal to the formal sector of an economy.

Worldwide 128 economies introduced substantial regulatory improvement making it easier to do business in all areas measured by Doing Business. The economies with the most notable improvement in Doing Business 2019 are Afghanistan, Djibouti, China, Azerbaijan, India, Togo, Kenya Cote d’Ivory, Turkey and Rwanda. One third of all business regulatory reforms recorded by Doing Business

2019 were in the economies of sub-Sahara Africa with a total of 107 reforms of the sub-Sahara region. The BRIC economies like Brazil, the Russian Federation, India and China introduced a total of 21 reforms with getting electricity and trading across borders the most common areas of improvement.

The 10 top economics in the ease of doing business ranking as noted under share common features of regulatory e�ciency and quality, including mandatory inspection during construction, automated tools used by distribution utilities to restore service during power outages, strong safeguards available to creditors in insolvency proceedings and automated specialized commercial courts. The 10 top economies are listed in the following table:

The economies that ranked highest as in the table are those

that have consistently well designed business regulations or whose regulatory environments have thrived with the comprehensive reforms over the years. The top three economies this year New Zealand, Singapore and Denmark exemplify a business friendly environment.

The developing countries like Bangladesh should endeavour to amend their business regulations through reforms undertaken by concerned agencies and follow the steps taken by other countries notably the developed countries in this regard. If everything goes well in the right direction with the sincere e�orts of the concerned authorities, Bangladesh is expected to attain the ranking position at 100 against the present status of 176 within a short period of time which will be something tangible achievement of the Vision 2021.

the distribution Utilities are now able to accommodate more connection request and thereby reducing the time request for business to obtain a new electricity connection from more than 400 days in 2014 to less than 150 days in 2018. Bangladesh has taken an action plan to remove the barriers in Doing Business and to improve the Ease of Doing Business so that the rank comes down to 100 by 2021.

According to Mr. Zahid Hossain, Lead Economist of The World Bank, Dhaka, the action plan of the govt. is on track. However, in reaping the benefits, the govt. has to implement the action plan in right direction, but it is not happening so due to lack of institutional capacity. According to him, if there is accountabilities and a time bound plan and the govt. implements the plan e�ectively within the deadlines it would help to improve the ranking.

South Asia continues on a strong reform agenda which is possible due to political commitments of the govt. and the hard work that is involved in improving the domestic investment climates. This is particularly commendable in case of Afghanistan, where conflict and insecurity make the working so much more challenging, said Rita Ramalho, Senior Manager of the World Bank’s global Indicators Group, which produces the report. The results from the Doing Business 2019 report are great news for

ase of Doing Business has been sponsored by The World Bank Group and it

has been functioning since 2003. It deals with aspects of business regulations a�ecting small and medium sized domestic firms located in the largest business city of 190 economies across the globe. Doing Business covers 11 areas of business regulations, 10 of which are (1) Starting a business, (2) dealing with construction permits, (3) getting electricity, (4) registering property, (5) getting credit, (6) protecting minority investors, (7) paying taxes, (8) trading across borders, (9) enforcing contracts and (10) resolving insolvency.

These areas are considered while the score and the ease of doing business ranking are taken into account.

As per survey of The World Bank Group who prepared the report on “Ease of Doing Business 2019”, Bangladesh ranked 176 out of 190 countries.

The poor ranking is due to the weakness of the Regulatory Authorities and the poor governance of the concerned sectors of Bangladesh. To improve its ranking the World Bank recommended regulatory reforms to make Doing Business easier. On the basis of this recommendation Bangladesh has continued to invest in the electricity grid over the past 12 months. As a result there is a lot of improvement in the electricity supply and therefore

South Asia and underscore the needs to persist with challenging reforms that can provide more opportunities for people to lift themselves out of poverty and spread prosperity move widely said Hartwig Schafer, Vice-President for the South Asia region of the World Bank. He says “we are looking forward to working with govt. s of the South Asia region to achieve more gains in coming years.” Dealing with di�erent aspects of the economic activities of the 190 global economies in the Ease of Doing Business, The World Bank Group came to the conclusion that New Zealand with a population of 47.90 lacs scored 86.59 points on average and topped the list.

The achievements of New Zealand in di�erent areas of economic activities are:

39APRIL - JUNE 2019 | The Bangladesh Accountant

ARTICLE

8) Trading across borders (rank) 176 Score for trading across borders (0-100) 31.76 Time to export Documentary compliance (hours) 147 Border compliance (hours) 168 Cost to export Documentary compliance (US$) 225 Border compliance (US$) 408.2 Time to import Documentary compliance (hours) 144 Border compliance (hours) 216 Cost to import Documentary compliance (US$) 370 Border compliance (US$) 900 9) Enforcing contracts (rank) 189 Score for enforcing contracts (0-100) 22.21 Time (days) 1,442 Cost (% of claim value) 66.8 Quality of Judicial processes index (0-18) 7.5 10) Resolving insolvency (rank) 153 Score for resolving insolvency (0-100) 28.20 Time (years) 4.0 Cost (% of estate) 8.0 Recovery rate (cents on the dollar) 29.2 Strength of insolvency framework index (0-16) 4.0

2019 were in the economies of sub-Sahara Africa with a total of 107 reforms of the sub-Sahara region. The BRIC economies like Brazil, the Russian Federation, India and China introduced a total of 21 reforms with getting electricity and trading across borders the most common areas of improvement.

The 10 top economics in the ease of doing business ranking as noted under share common features of regulatory e�ciency and quality, including mandatory inspection during construction, automated tools used by distribution utilities to restore service during power outages, strong safeguards available to creditors in insolvency proceedings and automated specialized commercial courts. The 10 top economies are listed in the following table:

The economies that ranked highest as in the table are those

that have consistently well designed business regulations or whose regulatory environments have thrived with the comprehensive reforms over the years. The top three economies this year New Zealand, Singapore and Denmark exemplify a business friendly environment.

The developing countries like Bangladesh should endeavour to amend their business regulations through reforms undertaken by concerned agencies and follow the steps taken by other countries notably the developed countries in this regard. If everything goes well in the right direction with the sincere e�orts of the concerned authorities, Bangladesh is expected to attain the ranking position at 100 against the present status of 176 within a short period of time which will be something tangible achievement of the Vision 2021.

the distribution Utilities are now able to accommodate more connection request and thereby reducing the time request for business to obtain a new electricity connection from more than 400 days in 2014 to less than 150 days in 2018. Bangladesh has taken an action plan to remove the barriers in Doing Business and to improve the Ease of Doing Business so that the rank comes down to 100 by 2021.

According to Mr. Zahid Hossain, Lead Economist of The World Bank, Dhaka, the action plan of the govt. is on track. However, in reaping the benefits, the govt. has to implement the action plan in right direction, but it is not happening so due to lack of institutional capacity. According to him, if there is accountabilities and a time bound plan and the govt. implements the plan e�ectively within the deadlines it would help to improve the ranking.

South Asia continues on a strong reform agenda which is possible due to political commitments of the govt. and the hard work that is involved in improving the domestic investment climates. This is particularly commendable in case of Afghanistan, where conflict and insecurity make the working so much more challenging, said Rita Ramalho, Senior Manager of the World Bank’s global Indicators Group, which produces the report. The results from the Doing Business 2019 report are great news for

ase of Doing Business has been sponsored by The World Bank Group and it

has been functioning since 2003. It deals with aspects of business regulations a�ecting small and medium sized domestic firms located in the largest business city of 190 economies across the globe. Doing Business covers 11 areas of business regulations, 10 of which are (1) Starting a business, (2) dealing with construction permits, (3) getting electricity, (4) registering property, (5) getting credit, (6) protecting minority investors, (7) paying taxes, (8) trading across borders, (9) enforcing contracts and (10) resolving insolvency.

These areas are considered while the score and the ease of doing business ranking are taken into account.

As per survey of The World Bank Group who prepared the report on “Ease of Doing Business 2019”, Bangladesh ranked 176 out of 190 countries.

The poor ranking is due to the weakness of the Regulatory Authorities and the poor governance of the concerned sectors of Bangladesh. To improve its ranking the World Bank recommended regulatory reforms to make Doing Business easier. On the basis of this recommendation Bangladesh has continued to invest in the electricity grid over the past 12 months. As a result there is a lot of improvement in the electricity supply and therefore

South Asia and underscore the needs to persist with challenging reforms that can provide more opportunities for people to lift themselves out of poverty and spread prosperity move widely said Hartwig Schafer, Vice-President for the South Asia region of the World Bank. He says “we are looking forward to working with govt. s of the South Asia region to achieve more gains in coming years.” Dealing with di�erent aspects of the economic activities of the 190 global economies in the Ease of Doing Business, The World Bank Group came to the conclusion that New Zealand with a population of 47.90 lacs scored 86.59 points on average and topped the list.

The achievements of New Zealand in di�erent areas of economic activities are:

40 APRIL - JUNE 2019 | The Bangladesh Accountant

Ease of Doing Business Globallyand Ranking of Bangladesh

The Asian Development

Bank will extend its support to

Bangladesh even after its graduation to a developing country, said its president

Takehiko Nakao on Thursday.

SOURCEThe Financial Express

2nd May 2019

Sl. No. Name of the country Ease of Doing Business Glove

1) New Zealand 86.59 Points

2) Singapore 85.24 Points

3) Denmark 84.64 Points

4) Hong Kong SAR-China 84.22 Points

5) Korea Rep. 84.14 Points

6) Georzia 83.28 Points

7) Norway 82.95 Points

8) United States 82.75 Points

9) United Kingdom 86.65 Points

10) Macedonia, FYR 81.55 Points