Angola chosen by the World Bank for the ranking of favorable environment for business

According to the Ministry of Economy, which cites the World Bank, the choice fell on the country due to the set of reforms implemented in the last five years.

The BEE is a report that will carry out a quantitative assessment of the business environment for the development of the private sector, focusing on the regulatory framework and the provision of public services aimed at companies, workers and markets.

Over the past five years, the Government has implemented a series of reforms in 10 areas that comprise the life cycle of a company, namely: a) Starting a business; b) Registration of property; c) Obtaining a work permit; d) Access to electricity; e) Protection of minority investors; f) Payment of taxes; g) Access to credit; h) International trade; i) Execution of contracts and j) Resolution of insolvency.

The implemented reforms are based on the introduction of electronic platforms, reducing the number of procedures, costs, time and reducing the complexity of public administration service processes, clarifies the ministry, in a statement to which VerAngola had access.

Angola's selection for the first BEE report is seen as recognition of the Government's reformist drive over the past five years, they say.

It should be remembered that since 2019, the World Bank has not published reports on the business environment.