|
|
| |
Home > Articles > General > ArticleItem
|
10/13/2006 3:38:06 PM
Atiku Iddrisu
Ghana Ranked Among Best Reforming Economies The World Bank has ranked Ghana as the first in Africa and the ninth in the world among economies that have implemented massive reforms to improve on the ease of doing business.
Mr. Michael Klein, World Bank and IFC Vice President for Financial and Private Sector Development, made the disclosure last Wednesday in Accra during the Ghana launch of the Doing Business report for the year 2007.
The World Bank report titled "Doing Business 2007"examined regulations affecting 10 areas of business activity compared across 175 economies around the world.
The 10 areas of everyday business the study examined include starting a business, dealing with licenses, employing workers, getting credit and payment of taxes.
Ghana's ranking in the ease of doing business has improved by eight places, from 102 in the previous year to 94 currently. One of the areas that won the country this mark is the reduction in corporate tax rate. Corporate tax rate has reduced drastically from 32.5% in 2004 to 28% in 2005 and 25% fiscal 2006.
Another factor is Ghana's impressive performance in trading across borders as a result of its continued implementation of computerized systems in customs clearance and documentation, for example the Ghana Community Network (GC-Net) system.
Mr. Kwadwo Baah Wiredu, Minister of Finance and Economic Planning, in an address, said Ghana has been implementing various reforms to improve the country's business environment.
He said it is gratifying that the nation's efforts over the years have been recognized internationally through the launch of the report. He noted however that though the nation appreciates the success achieved so far it is not satisfied with its performance vis-à-vis that of other comparable countries.
"We admit that there are a lot more bottlenecks in our business environment that need to be removed if Ghana is to successfully compete for global resources and to achieve our development objectives", Mr. Baah Wiredu remarked.
-----------------------------------
Source: Accra Mail (Accra)
|
------------------------------------
|
|
|
|
|
|
|
|
Receive our newsletter and updates of GCG activities
|
| |
|
|
|
