Businesses in low-income countries struggle with twice the burden of regulation as those in high-income countries. Developed countries have an average of ten times as many newly registered businesses for every adult as countries in Africa and the Middle East. Almost two-thirds of the world’s workers are still employed in the informal sector. The World Bank’s latest progress report, optimistic though it is, is a reminder of how far there is still to go in getting business regulations right.
The World Bank's Doing Business report: Reforming through the tough times | The Economist
On the occasion of the 9 day public holiday due to end of Ramadan and Eid Al-Fiter celebration, I came across an interesting report on doing business in different countries. Unsurprisingly Kuwait ranks close to the bottom compared to other GCC countries (the exception is Oman). The overall rank for ease of doing business is 61 out of 183 countries.
What struck me though is how bad Kuwait ranks in terms of ease of starting a business which is 137th! How bad can this be?! So much for trying to encourage the private sector. Go on enjoy your 9 day holiday, starting a business can wait! Happy Eid.