Malawi has moved by 23 places in the doing business rankings released by the World Bank.
According to Doing Business 2018 Reforming to Create Jobs, Malawi has jumped from position 133 last year to 110 this year.
The report says Malawi is one of the ten countries that have improved the most this year after implementing 53 regulatory reforms that have made doing business easier.
In his remarks, Minister of Trade and Tourism Joseph Mwanamvekha said the new ranking shows that the country is doing well in terms of economy.
Mwanamvekha added that it is as well showing that investors can invest in Malawi without challenges.
On his part, country manager for World Bank in Malawi Greg Toulmin commended Malawi saying it has a made a big jump this year which he said is very good sign of improvement.
He therefore asked the current government to continue working hard in order to keep on improving its ranking on doing business.
The Bank’s Practice Manager Africa Catherine Masinde advised the country not to settle with what it has achieved but rather to keep on reforming and improving the reforms.
She also asked the government to focus on indicators which can boost the country’s economy such as customs more especially across the border.
A record number of 83 reforms, making it easier to do business, were implemented in 36 of 48 economic Sub- Saharan Africa in the past year and was the largest number of reforms ever recorded which represents 31 percent of all reforms implemented by countries considered for the doing business report in any region.
The report measures 190 economies worldwide.