The Malawi government has set a target of 2017 for the country to get into the top 100 list of countries on the World Bank Doing Business Index.
Minister of Trade and Industry, Joseph Mwanamvekha, said while the country has improved its ranking; it will take at least two more years for Malawi to make it into the top 100.
“We are currently on the right track as witnessed by the recent upward movement. However, our target is to get into the top 100 and we think we can be able to do that in two years, said Mwanamvekha.
He said reforms will continue so that the doing business environment is completely eased, citing a number of bills that are yet to be passed in Parliament.
“We will continue coming up with policies that will see us improving on the doing business index,” said Mwanamvekha.
The recent World Bank report puts Malawi on position 164 from 171 in 2014.
Last year, Malawi plunged 14 places on the rankings from 157 to 171 out of 189 economies, despite a commitment from the then government to take the country into the top 100.
The World Bank recognised several reforms that Malawi has done to improve on the ranking although some of them have not yet been implemented yet.
The 2015 report, which covers the period from July 2013 to June 2014, recognises Malawi’s positive reforms in starting a business and getting electricity.
“In starting a business, the country made strides in simplifying business registration through streamlining the company name search and registration processes, and eliminating requirements for inspection of company premises prior to issuance of a business license,” reads part of the World Bank report.