Rwanda is committed to continue improving the business environment in order to make Rwanda an even more attractive place to do business. This was revealed today during the official launch of the 2019 World Bank Doing Business index as well as the 2020 Doing Business Action Plan.
Rwanda is the 29th easiest place to do business in the world according to the 2019 World Bank Doing Business index of the world’s most business-friendly economies. The World Bank assessed 190 countries for the report that was released 31, October.
In her remarks, the Chief Executive Officer, Rwanda Development Board, Clare Akamanzi said: “We have new reforms currently underway that are in line with our vision of a private sector-led economic transformation. Over the next five months we will implement new reforms to ensure that we build on the very solid gains that were made in improving the business environment and make Rwanda an even more attractive place to do business.”
Highlights of the Doing Business Action Plan 2020:
– On starting a business: Merging online employee with business registration, install EBM version 2 on RDB website to increase adoption of the software and waive ‘patante’ for startups for 2 years.
– Dealing with construction permits: reduce high costs and streamline procedures for obtaining construction permits namely geotechnological studies, topographic surveys and EIA, amend the land policy and law to merge LAIS and BPMIS for issuance of freehold titles.
– Getting electricity: Integrate with NIDA, LAIS and RDB to apply and acquire location and address of businesses and use GIS for faster connectivity, implement online application for electricity connection to reduce connectivity times and rehabilitate and develop new power stations and sub stations to increase reliability of electricity supply
– Registering property: Amendment of the land policy and land law to merge issuance of free hold titles and occupancy permits; introduce online notarization in property transfers.
– Getting credit: improvement of credit bureau coverage.
– Paying taxes: Introduction of automatic risk based system for tax audit to reduce the percentage of cases subjected to tax audit and roll out EBM version 2 to all businesses to reduce the time it takes to pay taxes.
– Trading across borders: Reduction of border compliance documents, reduce time taken to import/export, ensure implementation of risk based clearance of goods and enhance automation by incorporating all relevant agencies and clearing agents into the Electronic Single Window.
– Enforcing contracts: Implementation of small claims procedure to allow for self representation and reduce the costs of attorneys, introduce electronic auctioning to reduce time taken to enforce judgments, reduction of court fees, payment of court fees electronically and establishment of commercial division at Court of Appeal to fast-track resolution of commercial disputes.
– Resolving insolvency: Building a strong Insolvency administrators association. Engaging lending institutions to opt for more productive recovery outcomes for financially distressed companies such as restructuring or sale as a going concern.
For more photos from today’s event, please go here https://www.flickr.com/photos/rdbrwanda/albums/72157704378079224