Tuesday, July 25, 2017

Myanmar near bottom of Doing Business report

Myanmar narrowly escaped being named as one of the top 10 most difficult places to do business, coming in 177th spot on the 189-country list released by the World Bank on October 29.

It is the lowest-ranked ASEAN member in the Doing Business 2015 report, and with the exception of Afghanistan, the lowest-ranked Asian country.

Myanmar scored last in the “starting a business” category, but did relatively well in the “paying taxes” and “trading across borders” categories, finishing 116th and 103rd respectively. Myanmar was singled out as the country showing the most improvement for trading across borders in the report.

“Its Ministry of Commerce abolished the export licence requirement for 166 types of goods and the import licence requirement for 152 – reducing the time, cost and number of documents required to export and import general cargo products,” it said.

“As measured by Doing Business, exporting now takes 20 percent less time than before, and importing 19pc less time.”