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 September 30, 2008
Saudi Arabia - Ranks 16 in World Bank Doing Business 2009 report
    Publisher: The World Bank

 

The World Bank Doing Business 2008 report ranks 181 economies on the ease of doing business.

Doing Business 2009 is the sixth in a series of annual reports investigating regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 181 countries, from Afghanistan to Zimbabwe, over time.

Two-thirds of countries in the Middle East and North Africa reformed. 12 countries introduced 27 reforms to make doing business easier in the MENA region this year. The most popular reform was in the area of business start-up, with 9 countries reforming. This has been the most popular reform in the region over the last 5 years. Enhancements to credit bureaus were the second most popular reform in the region. This year there were no major reforms in employing workers, getting credit (legal rights) or enforcing contracts in the region..

Saudi Arabia, a top regional reformer, made it easier to start a business by continuing to simplify formalities for commercial registration and reducing registration fees by 80%. The time to start a business fell by 3 days. Saudi Arabia strengthened protections for minority shareholders through new provisions that prohibit interested parties from voting on the approval of related-party transactions and increase sanctions against directors for misconduct. It sped the registration of property with a comprehensive electronic system for registering title deeds. And it was the only reformer in the region in the area of closing a business this year. Its Ministry of Commerce introduced strict deadlines for bankruptcy procedures. Auctions of debtors' assets are expected to take place more quickly than before.

(link to full article...)

 
 

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