Commercial News

Govt announces reforms to improve ‘ease of doing business’ ranking

Vice President Dr. Mahamadu Bawumia has outlined various reforms being undertaken by government to see Ghana improve in the next ease of doing business ranking this year.
The vice president said he is positive such action will improve the economic situation in the country.
Ghana ranked 114 among 190 economies in the ease of doing business in 2018, according to the latest World Bank annual ratings.
This is four points up from the 120th rank it recorded the previous year.
The ease of doing business refers to how simple it is to start a business in a particular country compared to another.
As defined by The World Bank, Economies are ranked on their ease of doing business, from one to 190.
Following the latest ranking which saw Ghana move up four points, the Vice President Dr. Bawumia revealed that government has outlined some reforms aimed at improving the country’s ease of doing business.
Some of the reforms outlined include Tin Number Acquisition, Launch of Mobile Application and online platform for the ease of filing tax returns, Implementation of electronic Justice System among others.
Dr. Bawumia explained further the various improvements while giving his remarks at a stakeholders’ update on reforms by the government of Ghana to ease doing business in the country earlier today.
“We have worked on more reforms for 2020 doing business cycle and these reforms are very key and we hope that if we all work together these reforms will improve significantly in the next ease of doing business” he said
Meanwhile Senior Minister Yaw Osafo Maafo believes the reforms will most be needed to impact the private sector as they are a key force in driving business growth in Ghana.

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Source: citibusinessnews.com

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