KIGALI, Oct. 4 (Xinhua) -- Rwanda emerged among the top performers in fostering a welcoming business and investment environment, according to an inaugural World Bank Business Ready (B-READY) report unveiled Thursday.
The first edition of the report, which replaces the previous Doing Business project, assessed the business environments of 50 global economies and focused on three pillars, namely regulatory framework, public services, and operational efficiency, with scores rated from 0 to 100.
Rwanda scored 81.31 in operational efficiency to claim the third position globally, following Singapore with 87.33 and Georgia with 84.75.
In public services, Rwanda scored 67.37 for the eighth standing, while in regulatory framework, the African country finished seventh with 70.35.
The scores place Rwanda as one of the top-performing countries globally and the best-performing country in sub-Saharan Africa.
According to the report, with high operational efficiency, Rwanda is one of the fastest countries in Africa and the whole world for company registration, reinforcing its position as a regional leader in ease of doing business.
Rwanda's digitization of public services has been a key driver of its strong performance, the report said, citing systems such as the Integrated Electronic Case Management System for the judiciary and the electronic certificate system for land registration, which have streamlined processes, reducing both the time and cost of doing business.
In the regulatory framework, the report said Rwanda's legal reforms continue to enhance its global competitiveness, including the 2021 Investment Promotion Law, the Company Law, and the Insolvency Law, which have created a more business-friendly regulatory environment.
Francis Gatare, chief executive officer of the Rwanda Development Board, a government department responsible for investment promotion, said in a statement issued on Thursday that Rwanda's performance in the B-READY report reflects "our unwavering commitment to creating a conducive environment for private sector growth and investment." ■
