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In its statement released Thursday, the World Bank said “Madagascar gained two places in the edition of ‘Doing Business’ report for 2016 compared to the previous year.”

Madagascar flag

The World Bank recently released the new edition of “Doing Business”report, assessing the quality and evolution of the business climate in 189 countries worldwide.

According to the World Bank, “four reforms improved business climate in Madagascar and processed for obtaining credit, registering lands, protecting minority of investors, and trading across borders.”

The report shows Madagascar occupied the 166th place out of 189 economies (ranking readjusted according to the new methodology) in the report of 2015, it passed the 164th this year.

Country Manager of the World Bank in Madagascar Coralie Gevers was pleased that “this is an encouraging progress, although it is relatively modest.”

“We now need to maintain efforts in the medium and long term, so that reforms benefit to job creation and economic growth, and the World Bank stands ready to assist Madagascar in this direction,” Mrs. Coralie Gevers said
“We started the reforms, and we have implemented all necessary tools to improve our business climate,” said Eric Andriamihaja, managing director of the Economic Development Board of Madagascar (EDBM), the national agency which promotes investment in the country.

“We are convinced that we will have better results in the future,” he said when talking about the report.

However, this global study published on Oct. 28 showed a decline of Madagascar on reforms to facilitate the opening of new business, after the decision taken by tax authorities to require a certified check of bank for payments. Enditem

Source: Xinhua

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