27 October 2016 Last updated at: 10:05 AM

Malawi makes strides on business ranking

The World bank report on business index has ranked the country on 133 from the previous position of 141 among 190 countries on the globe.

According to the report Malawi’s easiness of doing business has improved with eight steps in the world.

The Doing Business report which has seen New Zealand being on top and Somalia taking the last position gives hope to investors who may wish to have presence on the land.

Joseph Mwanamvekha

Malawi making strides::Mwanamvekha

Malawi’s Minster of Industry, Trade and Tourism Joseph Mwanamvekha has since applauded the development saying it will help to bring more investors into the country.

“The ranking makes Malawi a better state for business, people will have confidence to have investments” said Mwanamvekha .

The reports presents results for two aggregate mean that ensures the distance to frontier score and the ease of doing business ranking, which is based on the distance to frontier score.

The ease of doing business ranking compares economies with one another, the distance to frontier score benchmarks economies with respect to regulatory best practice, showing the absolute distance to the best performance on each Doing Business indicator.

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