Maputo, Mozambique, 5 Nov – The reduction of procedures required to open a business or companies including the elimination of minimum starting capital for investments, made Mozambique jump nine places in the “Doing Business” 2011 ranking placing the country in 126th place in the list, Mozambican newspaper O País reported.
Mozambique rose nine places in the “Doing Business” 2011 ranking, out of 183 countries, which are assessed according to their respective business climates and changes introduced to improve them.
The world Bank report said that Mozambique’s rise was due to reforms to the component of opening a business or company, particularly eliminating minimum starting capital.
This is the second consecutive year in which Mozambique has seen a rise in “Doing Business” after it rose five places (from 140th to 135th) in the 2010 “Doing Business” ranking.
In relation to creating facilities for investors, the document mentioned that Mozambique had reduced its procedures and the time it takes to open a micro company, with the possibility of obtaining a license within the hour.
The lack of reforms in many components related to “Doing Business” also delayed the government’s aim. Launched in 2008, of becoming the country with the best business climate in Southern Africa by 2015.
The figures for “Doing Business” 2011 showed that Mozambique was ranked eighth in the region, having overtaken Tanzania, which is currently in ninth place.
In fact the country is still far from the top Southern African Development Community (SADC) countries, Mauritius (20th in the world ranking), South Africa and Botswana, which are amongst the top 60 places in the general ranking.
The general ranking of the World Bank’s “Doing Business” continued to be led by Singapore, followed by Hong Kong, and in the final two places were the Central African Republic and Chad. (macauhub)