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World Bank relaunches DOING BUSINESS
with a more transparent approach
The “Doing Business” project was launched by the World Bank in 2002 to analyze and improve business regulations affecting small and medium-sized enterprises in 190 economies.
The primary goal was to provide a comparative measure of the ease of doing business in different nations, identifying areas where regulations could be improved to foster economic growth.
The first “Doing Business” report was published in 2003 and quickly gained importance as a benchmarking tool for governments and businesses.
The report evaluated various aspects of business regulation, such as starting a business, obtaining construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
Over the years, the report influenced many regulatory reforms worldwide, helping countries improve their business environments.
However, in 2021, the World Bank decided to discontinue the project due to data integrity issues and political pressures that had affected the results of the 2018 and 2020 reports.
This year, after numerous discussions on how to replace or relaunch a similar project to continue monitoring and improving business conditions globally, the World Bank resumed the publication of the report after a pause of about three years.
The decision to resume publication was driven by the need to provide an updated and reliable framework of business regulations globally.
The World Bank has thus introduced a new version of the report, now called “Business Ready” (B-READY), which aims to improve and replace the previous “Doing Business” project.
The new “Business Ready” report comes with a more robust and transparent approach, including improved methodologies to ensure data accuracy and integrity.
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