The various sub-components of the index in themselves provide concrete suggestions for improvement. InUganda also adopted a National Land Policy aimed at promoting optimal use of land. We wish to clarify as follows: Investors have reported no problems with their ability to perform currency transactions.
DB uses a simple averaging approach for weighting sub-indicators and calculating rankings. By contrast, in Chad which ranked among the worst st out of on this same subindex, there are 9 procedures required to start a business taking 62 days to complete.
The DB has acknowledged the limitation of getting data from one city to give information and a ranking valid for all the country. Countries with more democratic and limited governments have lighter regulation of entry. These three legal frameworks generally provide for the licensing and regulation of institutions engaging in foreign exchange transfer.
The data is collected directly from company registrars on the number of newly registered firms over the past seven years Good practices - Provide insights into how governments have improved the regulatory environment in the past in the areas measured by Doing Business Transparency in business regulation - Data on the accessibility of regulatory information measures how easy it is to access fee schedules for 4 regulatory processes in the largest business city of an economy For example, according to the Doing Business DB report, Canada ranked third on the first subindex "Starting a business" behind only New Zealand and Australia.
Doing Business does not cover all the regulation, or all the regulatory requirements. Uganda has a law on bankruptcy The Bankruptcy Act, which entitles creditors including foreigners to petition court for a Receiving Order which effectively declares a debtor bankrupt.
The study has become one of the flagship knowledge products of the World Bank Group in the field of private sector development, and is claimed to have motivated the design of several regulatory reforms in developing countries. It has subsequently been removed from the rankings.
Doing Business does not consider the strengths and weakness neither of the global financial systemnor the financial system of every country. The main findings of the paper were that: Due to antiquated laws that codify penalties using specific shilling amounts, in some cases penalties are not a sufficient deterrent due to currency depreciation.
Data from the survey is subjected to several rounds of verification. Doing Business does not measure all aspects of the business environment that matter to firm or investors, such as the macroeconomic conditions, or the level of employment, corruption, stability or povertyin every country.
The Ugandan government has however requested that we direct most of our new support towards specific investments for infrastructure, agriculture and skills development, with less financing for general budget support. In the possible biases in applying the DB time indicator were mathematically demonstrated in a scientific article  appeared on the Rivista italiana di economia demografia e statistica Italian Review of Economics, Demography and Statistics - RIEDS.
However, regulation rather than competitiveness is the main objective in the DB. Results are also validated with the relevant government before publication.
The annual exercise generates information that is relevant and useful.
Uganda fares better in the recovery rate that claimants recover from an insolvent firm 37 cents on the dollar in Uganda, 27 cents in Kenya, 21 cents in Tanzania. An Independent Evaluationcontained both praise and criticism of Doing Business. Several have explicitly targeted to reach a minimum position on the index, for example the top 25 list.
Despite a lack of funds and space, the commercial courts dispose of disputes within about seven months, faster than civil courts have traditionally disposed of commercial cases. The new World Bank Doing Business Report released in Washington, shows that Uganda managed only one business reform by eliminating the need to have instruments of land physically stamped to certify payments of stamp duty.
Uganda ranks out of countries in the Doing Business report, issued by the World Bank. InUganda’s foreign direct investment was USD billion, slightly down from USD billion inaccording to the World Bank.
Uganda was the second best performing economy of the East African Community (EAC) in the Doing Business report,2 and the country is a good ally for the World Bank in the region.
It was recently chosen as one of the pilot countries to test the. Doing Business in Uganda: Country Commercial Guide for U.S. Companies Doing Business in Uganda Market Overview (FDI) is estimated at about USD billion by the World Bank. The UNCTAD World Investment Report shows that Uganda remains the leading recipient of Foreign Direct Investment in the East African region.
With member countries, staff from more than countries, and offices in over locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.
With member countries, the World Bank Group is a unique global partnership fighting poverty worldwide through sustainable solutions.World bank doing business report 2013 uganda