World Bank Releases Report On Doing Business In Somalia

World Bank Releases Report On Doing Business In Somalia

World Finance picks out eight standout countries that have been ranked in the World Bank’s Doing Business 2018 report

The World Bank’s Doing Business 2018 report ranks 190 economies based on how easy it is to do business there, taking into account trading regulations, property rights, contract enforcement, investment laws, the availability of credit and a number of other factors.

For the second year in a row, Somalia has the unwanted distinction of being named the most challenging place in which to do business.

Dire economic conditions, a fragile political climate and the ongoing threat of terrorism make it difficult for Somalia to create much upward momentum.

A mostly dollarized economy and a worrying number of regulatory loopholes have also meant that the informal economy often seems more prominent than the formal one.

Business potential does exist, particularly if Diaspora professionals can be enticed back to the country, but the chances of Somalia rising significantly up the Doing Business rankings look slim for now.

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