The Ministry of Business has invited a team from the World Bank to advise on improving the local business environment, GINA said.
The World Bank team arrived here on Monday and will have several meetings with government agencies and the private sector before leaving tomorrow. GINA said that its focus is on the 10 pillars of the annual ‘Doing Business Report’. These include trade transactions, access to electricity, credit, land and construction permits, starting a business, paying taxes, enforcing contracts and resolving insolvency.
Up to last year, Guyana continued to slide in the world rankings for the ease of doing business, falling five places to 137 in the listing of 189 countries.
According to the World Bank’s ‘Doing Business 2016: Measuring Regulatory Quality and Efficiency’ report, Guyana was ranked at 137, having been ranked at 132 last year. Last year’s ranking of 123 was adjusted to 132 based on data corrections.
The Ministry of Business, GINA said, hopes that Guyana’s performance in the Doing Business Index can be significantly improved over the next five years.
