KAMPALA, Uganda—The World Bank Group Doing Business Flagship Report 2017 has indicated that Uganda made starting a business easier by eliminating the requirement that a commissioner of oaths must sign compliance declarations.
Subsequently, Uganda’s doing business World Bank ranking short up from position 122 in 2016 to 115 in the coming year among 190 economies.
The World Bank Group Doing Business Flagship Report 2017 looks at the time and cost spent in starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, labor market regulation, distance to frontier and ease of doing business ranking in measuring whether the Doing Business environment of an economy has improve or not.
For example, data collected by Doing Business, indicates that starting a business in Uganda requires 13.0 procedures, takes 26.0 days and costs 37.1% of income per capita for men.
Similary, Women in Uganda undergo 13.0 procedure requirements to start a business which takes them 26.0 days and costs 37.1% of income per capita for women. A requirement of paid-in minimum capital of 0.0% of income per capita is incurred by both.
The government of Uganda under the Competitiveness and Enterprise Development Project (CEDP) is bent towards creating an effective and efficient business climate that makes doing business in Uganda easy, simple, competitive, predictable, sustainable and less costly for all investors and entrepreneurs.
In an earlier interview with the Project Coordinator, CEDP, John Marie’ Kyewalabye said whereas the World Bank Doing Business ranking is good in awakening those in authority, focus should be streamlined in creating a business environment which is appreciated by the local population.
He said CEDP is supporting reforms five component areas that are key ensuring an effective business climate.
These include among others; land reforms, reforms in business registration and licensing, ICT, support, development a competitive tourism industry, providing a match grants facility to the business community, as well as providing technical support for project implementation in the private sector.
The Executive Director, Private Sector Foundation, Gideon Badagawa said reforms in the above areas will ease the time and cost of doing business in Uganda. This he said will boost Job creation and revenue collection.
The Doing Business World Bank Flagship Report 2017 looks at administrative burden of complying with tax obligations and postfiling processes. Uganda is ranked 75th among 190 economies on the ease of paying taxes.
According to data collected by Doing Business, getting electricity in Uganda requires 6.0 procedures, takes 66.0 days and costs 8449.0% of income per capita.
The Doing Business, report highlights that registering property in Uganda requires 10.0 procedures and it takes 42.0 days and costs 2.6% of the property value. The score on the quality of land administration index is 10.5. DB2014 report shows Uganda made transferring property easier by eliminating the need to have instruments of land transfer physically embossed to certify payment of the stamp duty.