GUINEA CONAKRY Doing Business ranking 2014 performance and weaknesses of Guinea As everywhere in the world, Tuesday, Oct. 29 the group of the World Bank has officially released its annual report Doing Business in 2014. In Guinea, the launch of the report was marked by a video conference that connected Washington DC-Bujumbura-Abidjan-Libreville-Conakry Dakar. It is the Minister for the Budget, Mohamed Diaré who delivered the Guinean communication to this video conference experience sharing on the implementation of reforms to improve the business environment Doing Business Bank Group World. He was surrounded by the Minister of Industry and SMEs, Haja Ramatoulaye Well, Governor of the Central Bank of the Republic of Guinea, Dr. Lounceny Nabe, the Resident Representative of the World Bank in Guinea, Fantamady Cheick Kante ... In its communication, the Minister Diaré said that the implementation of program activities Doing Business in the period 2012-2013, has enabled Guinea to record significant that among other acceleration of acquired business creation, and the drastic reduction of costs associated with paperwork, access to information and transparency of regulation, tax relief conditions for investors, improved economic governance. Other new reforms such as the revision of the Investment Code, the drafting of the letter of investment policy, the draft law on tax incentives that the initiation by the government, is considered by the Minister Budget as stimulants to help soon to accelerate the process of qualification of the business environment in Guinea. However, this improvement that emerges in the microcosm of businesses in Guinea, did not prevent the Minister Diaré to recall some important challenges in Guinea must find appropriate responses if it is to be in the forefront of countries regulations are broadly supportive of the business in the world. For Mohamed Diaré these bottlenecks reforms undertaken by the government, for names: cost control factors, improved access to credit, the removal of legal and administrative burdens, the removal of obstacles to development of trade, the fight against fraud and counterfeiting, the extension of entrepreneurship, strengthening human and institutional capacities of enterprises, the interconnection of entities involved in the promotion of the private sector or the lack viable infrastructure. For his part, the minister in charge of Industry and SMEs reversed indices have enabled Guinea to know jumped four points in the annual ranking Doing Business in 2014 by the World Bank. According Haja Ramatoulaye Bah, efforts in the areas of entrepreneurship, connection to electricity, transfer of ownership and cross-border trade have enabled Guinea to improve its score in the table Doing Business passing the 179 th in 2013 to 175 th place in 2014. On the index for business creation, Guinea has garnered 14 points. To believe the Minister of Industry and SMEs, through this facility recorded in the field of entrepreneurship, 4,000 new companies were able to leave the informal to the formal sector. The combination of the various authorities within the single window cut, she says, the number of procedures and costs of a business in half and add that the order of the Ministry of Justice in May 2012 allows to legal publications directly on the website of the APIP. It is in the area of transfer of property that Guinea has made his biggest score in the ranking Doing Business in 2014. She went from 140 th place in 2013 for the 155 th rank in 2014. Indeed, a single stop shop for construction permits and the transfer of ownership has been created to enhance transparency and streamline inspections of buildings and properties. This has also reduced the time required for the transfer of land through the land registry office, which coordinates all efforts with other jurisdictions. In addition, said the Minister of Industry, the property transfer taxes were halved for commercial companies from 10 percent to 5 percent and 80 percent for industries from October to February percent. The introduction of this system has helped in Guinea 66 property transfers between January and August 2013 despite political instability, has she said. In terms of cross-border trade, Guinea has been advanced by 2 points. This allowed him to leave the 136 th rank in 2013 to the 138 th in 2014. I must say that this progress was made possible thanks to the revival taking place in Port of Conakry. the administration of the port of Conakry has established a system of docking windows where ships have weekly schedules and docking programs fixed in advance. That said Haja Ramatoulaye Bah, improve services and results to productivity gains and a reduction in turnaround time at the port of Conakry from 15 to 35 movements per hour. As for the electricity connection, Guinea has had one (1) point higher than its ranking from last year, from the 91 th up to 92 th place in 2014. In relation to this index, there is a slight improvement was found in Guinea with the reduction of connection to the electricity thanks to a new technology introduced by the EDG and no longer requires work excavation through the city streets. This increase of 4 percentage points recorded by Guinea in the classification Doing Business in 2014, must now obscure little efforts to be undertaken with regard to the six other indices including the granting of building permits , obtaining loans, enforcing contracts, resolving insolvency. In the field of granting permission, Guinea has experienced a decline of 8 points from the 155 th place in 2013 to 147 th in 2014. To obtain loans, she lost five points leaving the 159 th rank in 2013 for the 154 th rank in 2014. Regarding the performance of contracts, there is a fall of two points for Guinea. What did she went to the 134 th spot in 2013 for the 132 th in 2014. Regarding Regulation of insolvency, Guinea won a point from 145 th in 2013 the 144 th place in 2013. Moreover, it is noteworthy that in the TOP 10 best economies whose regulations are favorable business environment in the world, Singapore leads the dance, followed by Hong Kong (China), New Zealand, the United States, Denmark, Malaysia, the Republic of Korea, Georgia, Norway, the United Kingdom. The report Doing Business 2014 also notes that of the 20 economies that have most improved business regulations since 2009, nine (9) are from sub-Saharan Africa that are: Burundi, Sierra Leone, Guinea-Bissau, Rwanda, Togo, Benin, Guinea, Liberia and Côte dIvoire. Following this strong performance, the Resident Representative of the World Bank in Guinea, Cheick Kante Fantamady congratulated the Guinean government and urged him to continue the path of reforms to further improve the business climate and to the outbreak of a strong, job-creating private sector a reality. Finally, countries like Chad, CAR and South Sudan close walking distance in this ranking Doing Business in 2014 by the World Bank.
Posted on: Wed, 30 Oct 2013 20:47:45 +0000
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