Malawi has said by 2014 it aims at getting into the top 100 of the Ease of Doing Business Index, a survey annually done by the World Bank.
Trade and Industry minister of the Sub-Saharan nation Sausten Gwengwe said government is doing all the required reforms to align the economy to investor needs.
The Ease of Doing Business survey assesses 181 countries and Malawi dropped to position 157 in 2013 from 151 in 2012.
“It is government’s vision to make Malawi more attractive to prospective investors while we continue providing a more conducive environment to the private sector. That’s why we target to move in the top 100 of ease of doing business index and we target 2014 for this,” said Gwengwe.
The World Bank looks many factors when indexing countries in the doing business report like time required to start a business.
This involves issuance of a business licence and provision of a legal business premise.
They also look at how easy it is for businesses to access credit, the cost of finance and availability of electricity-all this the country ranks miserably since has more hours of power blackouts.
Largely, Malawi has a GDP per capita of $340 and it still has ernomous challenges in public service delivery with so many business needs requirement offices spread across the country and not under a one-stop-shop format.