Business Ready Project launched by World Bank Group

Current Affairs

  • The World Bank Group has begun work to assess the business and investment climate in up to 180 economies under its flagship Business Ready project—a key instrument of its new strategy to facilitate private investment, generate employment, and improve productivity to help countries accelerate development in inclusive and sustainable ways.
  • The objective of the Business Ready project is to make each country’s economic environment ready for a dynamic private sector.
  • This will be done by assessing and ranking the ease of doing business in each economy, identifying areas of improvement, and providing recommendations to policymakers and stakeholders.
  • The Business Ready project has been developed by a team of professionals both from inside and outside the World Bank Group, comprising members from governments, private entities, and civil society organizations.
  • The project focuses on ten topics, including Business Entry, Business Location, Utility Services, Labor, Financial Services, International Trade, Taxation, Dispute Resolution, Market Competition, and Business Insolvency.
  • The World Bank Group’s assessments of the business-enabling environment worldwide have spurred nearly 4,000 regulatory reforms over the past two decades, leading to a significant improvement in the ease of doing business in many economies.

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