Business

Cameroon – Ranking: Cameroon wins a spot in the “Doing Business 2017” ranking of the World Bank

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Written by Deckson N.

For the 2017 edition, the country gained a place and is positioned at the 166th rank out of 190 countries rated on their ease of doing business.

At the heart of this progress, two reforms. The first is the reduced time for obtaining building permits, which was encouraged by the establishment in April, of a facilitation office and improving the transparency of the process. The second reform that advances Cameroon is the OHADA conciliation procedure for companies in financial difficulties. This device allows the regulation of insolvency by offering additional solutions for the payment of debts. Only that, according to the World Bank, “the country could have done better by adjusting its reforms related to payment of taxes and duties as well as cross-border trade,” said Cameroon Tribune, the national daily newspaper, in its edition of Wednesday, October 26.

The performance was presented on Tuesday in Yaounde by the heads of the World Bank. Cameroon Tribune says on Cameroonian side, the announcement of this breakthrough is bittersweet. Indeed, on the thirty reforms undertaken by the State to improve the business climate, only two were taken into account. But the country wants to move forward and notes. “We are committed to continue reforms under the authority of MINEPAT with the accompaniment of the World Bank and we believe that in 2017, the ranking of Cameroon will further improve,” said the Director General of economy and programming of public investments of the Ministry of economy, Planning and Regional Development (MINEPAT), Isaac Tamba, representative of the Minister.

According to the Director of Operations of the World Bank, Elizabeth Huybens, the choice limited to two reforms is explained by the fact that for a reform to be recognized in the Doing Business, it is necessary that its implementation be completed before May 30 of the same year and be known to the private sector considering the basic rating also on the opinion of entrepreneurs, we learn.

According to “Doing Business 2017“, in terms of business creation, Cameroon is ranked 149th. Obtaining a building permit earned her the 141th rank. Connection to electricity, 89th position. Transfer of ownership, 177th. Access to credit, 133rd. Protection of minority investors, 137th. Payment of taxes, 180th. border trade, 186th. Enforcing contracts, 160th. Insolvency Regulation, 122nd.

The Doing Business 2017 report awarded first place to New Zealand in its ranking. Singapore ranked second, followed by Denmark, Hong Kong, China, the Republic of Korea, Norway, the UK, the US, Sweden and the former Yugoslav Republic of Macedonia.

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Deckson N.

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