Business climate improves in many developing countries, World Bank says
El Salvador, Malawi and India are among the countries that showed the strongest improvement in the World Bank’s 2018 Doing Business report, an annual ranking that measures ease of doing business. India, which this year ranked 100 among the 190 countries from New Zealand to Somalia that the report covers, showed the strongest improvement, jumping from 130 last year.
The report highlights India for adopting multiple reforms making it easier to protect investors, pay taxes, enforce contracts and start a business. As a region, Sub-Saharan Africa adopted the most reforms overall, and within Sub-Saharan Africa, Malawi, along with Zambia and Nigeria showed the strongest improvement in business climates. While most of the highest-ranking countries are in the developed world, Rwanda, ranked #41, topped the list of Sub-Saharan African countries in overall ease of doing business ranking.
This year’s report also highlights the growing role of the private sector in development and notes the growing need for private investment, particularly in developing economies, where the overall urban population is projected to double by 2030, creating a massive need for more modern infrastructure.
OPIC, which has active projects in almost 100 developing economies, supports development in several of the countries the report highlights, from financial services projects in India, to support for smallholder farmers in Malawi and power generation in El Salvador.