Align reforms to practicalities— World Bank

Post was last updated: November 19, 2019

The World Bank has urged local authorities to be practical when developing business-related policies and reforms.

The call comes as Malawi moved up two steps on the latest World Bank Doing Business Report 2020 released recently.

The country moved from position 111 to position 109, despite registering no reforms this year.

Last year, the country recorded two reforms on the Doing Business Report.

The report shows that Malawi recorded a score of 60.9 up from 60.4 on the Doing Business 2019 report.

Speaking recently, World Bank Senior Private Sector Development Specialist, Ephraim Chilima, said some reforms are not translated into significant improvement of the business environment.

“Private sector in the country continues to face challenges to operate effectively. It is clear that there is a gap between policy reforms and practicalities on the ground.

“This is the most opportune time to encourage various players to join hands and consolidate gains made so far, and speed up on this agenda for the country to move forward,” Chilima said.

Director of Planning in the Ministry of Industry, Trade and Tourism, Francis Zhuwao, said some reforms have not produced desired results.

“We are engaging stakeholders to agree on reforms that government should implement both in the short to medium terms, guided by the Doing Business report 2020 but not restricted to the recommendations of the report,” Zhuwao said.

Let us know what you think of this update and remember to add us on our facebook and follow us on our twitter. Make sure to come back daily for more Malawi business news updates.

Quick Links: Malawi Banking News | Malawi Technology News | Download Business eBooks | Ten Signs You Are An Entrepreneur | What is a Managing Director?

Today’s top business story: Top Commercial Banks In Malawi

Source link