Angola seeking world bank support to improve “Doing Business”

Angola has requested the World Bank’s support to conduct a diagnostic study to identify the existing inefficiencies that hinder the development of the private sector and find solutions to improve the business environment and therefore improve the classification of “Doing Business “, said Wednesday the Finance minister Archer Mangueira

The minister said the support is part of the ongoing programme implemented by the Executive to promote exports in replacement of imports, described as crucial for diversification of the economy.

Speaking to the press at the end of the meeting with deputy president of Africa’s region of the World Bank,  Makhtar Diop, the Finance minister stressed his financial institution’s availability to develop the aforementioned study.

Archer Mangueira based his trust on the fact that similar work had been done with success in other jurisdictions whose economic reality is not very different from that of Angola.

The two interlocutors came to the understanding that the World Bank should also participate in the regulation of the Public-Private Partnership Law to ensure the implementation of public investments with a view to protect the interests of State”.

“From now on we will put the teams from both parties to work and define the schedule of the level of financial engagement and the results expected for the achievements that will appear on the schedule in each field,” he said.

In the recent report “Doing Business 2018 reached Angop, under the motto” Reform to Generate Jobs “, the World Bank Group discusses the measures adopted between June 2016 and June 2017 by 190 countries to create jobs, attract investment and competitiveness.

According to the report, Angola rose from position 182 to 175, having registered a score of 41.49 in the index.

While Cabo Verde improved two positions from 129 to 127, achieving a score of 55.28 compared to the previous index in which it stood at 56.26.

Cape Verde and Angola are among the sub-Saharan African economies that have implemented three reforms in this area over the last year.

Angola saw the improvements in the allocation of construction permits, access to electricity and international trade with improvements in infrastructure in the Port of Luanda.

Source: Angop

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