Kenya among most improved countries on ease of doing business

Kenya flagKenya has been ranked third globally among the most improved countries on ease of doing business according to the World Bank’s Doing Business Report, 2016.

The Report, which was released at a Nairobi hotel during a function presided over by Deputy President William Ruto on Wednesday, confirms Kenya as the most improved country globally.

In a move indicating good tidings for Kenya’s local entrepreneurs and investment climate, Kenya has risen 28 places to 108 from 136 it attained last year.

This comes in the wake of implementation of four key areas by the Government that has made it easier to do business in the country.

ndustrialization Cabinet Secretary Adan Mohammed said Kenya has instituted reforms in the areas of getting credit, reduction of electricity, startingbusiness and faster and transparent registration of property.

“Getting electricity, credit, starting business and transparent registration of property have made it easier to do business in Kenya. This situation has attracted local and foreign investors,” said Mr. Mohammed.

World Bank Group Regional Director East and Southern Africa Director Oumar Seydi hailed the steps being taken by Kenya in improving its economic situation.

“On behalf of the World Bank Group, I wish to commend Kenya for the tremendous reforms it has undertaken that have made it easier to doing business in the country,” said Mr. Seydi.

He went on: “The digitalization of process in the registration of property has for instance has made it easier and efficient. This can attract investments into the country.”

Mr. Seydi said World Bank Group would continue working closely with Kenya in accelerating the development process with a view to improving the living standards among its people.

Mr. Ruto said the Government is committed to improving the business environment to attract investment, create jobs and wealth.

“We seek to position Kenya as the continents’ manufacturing and technology hub, the preferred gateway to Africa for domestic and foreign investors,” said Mr. Ruto.

These noble ambitions have in the past been undermined by unfavorable business environment which has hindered Kenya’s goal,” he added.

The Deputy President said the Government has put in place an elaborate programme to make Kenya’s business sector more productive and globally competitive.

“We have registered improvements in starting a business by making it easier to assess and pay stamp duty,” he said.

He went on: “We have reduced days for new electricity connections by enforcing service delivery timelines and hiring contractors for meter installation.”

These noble ambitions have in the past been undermined by unfavorable business environment which has hindered Kenya’s goal,” he added.

The Deputy President said the Government has put in place an elaborate programme to make Kenya’s business sector more productive and globally competitive.

“We have registered improvements in starting a business by making it easier to assess and pay stamp duty,” he said.

He went on: “We have reduced days for new electricity connections by enforcing service delivery timelines and hiring contractors for meter installation.”

“We are aware of the need to enhance our commitment to investor protection to attract investments,” said Mr. Ruto.

The Deputy President said the Government will regularly monitor progress and resolve any emerging issues to ensure that the ease of doing business is delivered.

“As investment flows seek new locations, Africa is their natural home. First movers in creating an enabling environment in the Continent will be the winners,” said Mr. Ruto.

The Deputy President also told public officers to improve in service delivery.

-standardmedia.co.ke

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