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WorldBank says Ethiopia’s atmosphere for business improved!

EDITOR’S NOTE: World Bank crooks must be chewing khat with Meles.

ADDIS ABABA (Fortune) — A new report on ease of doing business around the world has been published by the World Bank and it shows that Ethiopia has improved its environment for doing business with the country moving up nine places on the index table from position 116 to 107. Wow! Incredible!

[The truth of the matter is that Ethiopia’s economy under the Woyanne tribal junta is growing down like a carrot.]

The development comes barely a month after another World Bank report on competitiveness where Ethiopia’s business environment was found wanting in many areas.

“Ethiopia reduced court delays through a combination of better case management and internal training, as well as an expanded role for enforcement judges. The government has simplified property transfers by decentralizing administrative tasks to sub-cities and merging procedures performed by the land registry and municipalities,” said World Bank in a report released in Washington, D.C., on Wednesday, September 9, 2009.

Reforms at the company registry and the streamlining of procedures have also made it easier to start a business in Ethiopia over the past year, says the report compiled by the Bank’s branch, the International Finance Corporation (IFC).

Ethiopia has over the past year ranked poorly on the index as it moved from 109 in 2008 to 116 in this year, 2009.

“Major areas of reform [in 2008/2009] have been in areas of starting a business, registering property, and enforcing contracts,” the Bank notes in the report.

Ethiopia is also named to have lowered taxes on domestic firms in 2008/2009.

This new report vindicates State Minister of Trade and Industry Tedesse Hailu, who on August 20, 2009, doubted the findings of the first World Bank report titled Ethiopia Investment Climate: Towards the Competitive Frontier which showed that government preferences, access to capital, coupled with low productivity, low wages, land allocation and inefficiency in allocation of resources were some factors that were slowing down Ethiopia’s competitiveness to attract business and investment on the world market.

The Trade and Industry Minister indicated that Ethiopia was improving in many areas like making resources such as land available to investors and reforming some of its trade rules.

“This is good development for Ethiopia as 2009 was difficult year for many countries,” an economist told Fortune on Wednesday, September 9, 2009.

The Bank dubbed 2009 as a year of fast-paced reform with 67 regulatory reforms recorded in 29 of 46 countries in Sub-Saharan Africa.

Doing Business 2010: ‘Reforming through Difficult Times’, as the report is named, is the seventh in a series of Doing Business annual reports published by IFC and the World Bank.

For the first time a Sub-Saharan African country-Rwanda-was the world’s top reformer, based on the number and impact of reforms implemented between June 2008 and May 2009. Rwanda, a repeat reformer, reformed in seven of the 10 business regulation areas measured by Doing Business.

It now takes a Rwandan entrepreneur just two procedures and three days to start a business. Imports and exports are more efficient, and transferring property takes less time thanks to reorganized registries and statutory time limits. Investors have more protection, insolvency reorganization has been streamlined, and a wider range of assets can be used as collateral to access credit.

Mauritius, ranked 17 of the 183 economies covered by the report, is the top Sub-Saharan economy for the second year in a row in terms of the overall regulatory ease of doing business. It adopted a new insolvency law, established a specialized commercial division within the court, eased property transfers and expedited trade processes.

“In times overshadowed by the global financial and economic crisis, business regulation can make an important difference for how easy it is to reorganize troubled firms to help them survive, to rebuild when demand rebounds, and to get new businesses started,” said Penelope Brook, acting vice president for Financial and Private Sector Development at the World Bank Group in a statement made available to Fortune on Wednesday.

Doing Business analyzes regulations that apply to an economy’s businesses during their life cycles, including start-up and operations, trading across borders, paying taxes, and closing a business. Doing Business does not measure all aspects of the business environment that matter to firms and investors.

For example, it does not measure security, macroeconomic stability, corruption, skill level, or the strength of financial systems.

“The report shows that some post conflict economies [like Ethiopia and Rwanda] in the region are actively improving the regulatory framework for private sector-led development,” said Brooks.

6 thoughts on “WorldBank says Ethiopia’s atmosphere for business improved!

  1. The world Bank and IMF appear politically contrained to state the obivious that the Ethiopian economy is going to the abyss.

    Under the Woyane, resource allocation has been distorted, the investment and the legal climate has been constrained, and land and Internet ownership by the Woyanes remain the biggest roadblock to economic development in Ethiopia.

    Worst, the introduction of tribalism has disturbed the normal movement of goods, and services across Ethiopia. In addition, the risk of operating under the Woyane has increased becasue of their arbitrary confiscation of private businesses and unfair advantage given to Woyane and their proteges.

    Ethiopia is a country that is not only geographically disintegrated, but also economically imploding. The increase population has also added a huge burden to the economy, which is not growing at the same rate or higher becuase of Woyane economic policies.

    The Woyanes are a curse to the well being of the Ethiopian people. I wonder what the people are waiting to do.

    The Ethiopian people will perish under Woyane strangulation of their economic lives, I hope they will not perish in vain, at least resist the inevitable destruction of their livelihood and their country.

    The majority of the Ehtiopian people have to realize they will perish if the present economic policy continues. So should they perish in slow and painful way or fight back to restore their rights, their freedom and their dignity.

    I wonder what they will choose to do. Are Ethiopian the type of people who chose – dying in cowardice and shame, or people dying with dignity.

    Resistance has a chance of changing their predicament, however waiting for something to change will lead to the inevitable death of many Ethipoians either through intercine wars, famine, disease or other cuases.

  2. I believe the report without any doubt. Investors are diverting to Ethiopia from all over the world because, Ethiopia is a country where they can get fertile land, freshwater, and cheap labour without any regulation; Ethiopia is a country where they can damp thier toxic wastes without any concequence; Ethiopia is a country where there is niether a concerned leader nor any controling mechanism. In fact, I am surprised why moved further up rather than only by 9 steps.

  3. What?? Ehe Wemene weyane, Meles, representing Africa in the World Climate Change Conference??? You’re kidding me!!
    Somebody wake me up(bang my head with a ‘dulla’) and tell me I’m having a bad dream.
    This reminds me of an article, once, I read in the UK Guardians paper…..How the US desperately wanted Hamid Karzai of Kabul (not Afghanistan) to stay in power that they advised him to lambast the US army and its policy so that the Afghan people would think that Karzai has finally grown a biting teeth criticizing his puppet-masters. The US thought this startegy would help the Afghan people rally behind Karzai of Kabul in the upcoming election so that once Karzai gets his next term in a bag, nice and easy, it’d be a win-win for the US. The US even pretended to undermine their own puppet from Kabul, Karzai, so that they can both wrong-foot the poor Afghan shepherd and poppy farmers.
    Ever since the Guardian revealed their dirty trick prior to the election, the US resorted to their contingency plan of bundling their puppet karzai another term in office. The election was rigged (vote stuffing, transporting bus-loads of Karzai’s buchullas from one polling station to another as if they are in a voting tour, dumping rival voting cards into ditches, etc etc….) and the US media was obliged to play down the massive vote rigging drama. the story is machavalian.
    What I’m really worried about is that ….perhaps their african puppet, Meles, is deliberately advised to throw some popular lines and you bet your life that the western media are going to megaphone it and churn it so as to help Meles’ dwindled (almost zero) popularity go up a bit, perhaps to help him voted in 9 months time.
    Henry Kesinger has used similar tactic to boost their moral high ground when their brutal dictator of Chile, Pinochet was massacring tens of thousands of unarmed innocent people.
    If Puppet Meles is really serious about the world climate change, how could he possibly allow the destruction of Koka hayk right under his nose to help multi-national firms cut expense in order to rip huge profit at the expense of the environmental disaster in Lake-Koka.
    This dwarf puppet will have no chance and we’ll make sure that his puppet strings are snapped dropping him right down to the pit. Obama will be reluctant to hold up his puppet strings but again it’s the corrupt lobbyyist who will be holding their puppet by the strap of his shoe strings.

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