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China-Africa Trade Information Service
Photo from Citizen
Uhuru Kenyatta, President of Kenya, arranged a meeting at State House, aiming to celebrates Kenya’s new ranking of doing business index which was ranked 61 globally, in comparasion to 80 last year.
The President thanked the team led by Deputy President William Ruto for a job well done and encouraged them to work even harder in order to achieve the targeted position 50 by 2020.
The World Bank Report, Doing Business 2019, ranks Kenya at position 7 among the 10 most improved economies in the Doing Business Index, a strong statement of confidence by the world about Kenya’s economic outlook.
The new ranking marks the fifth year-on-year improvement in the country’s overall ranking since 2014, moving 75 places from position 136 to position 61.
The World Bank report compares business regulations for domestic firms in 190 economies globally, reviewing various parameters on the ease of doing business that include the ease of getting credit, protection of minority investors, resolving insolvency, paying taxes and trading across borders.
The President encouraged the various state agencies to speed up reforms aimed at boosting the country’s agenda for improving the ease of doing business.