WB: Ghana is best place for investors

Ghana is named the best country in West Africa for investment and other business ventures. The World Bank and the International Finance Consortium (IFC) released the results in their latest ‘Doing Business’ 2009 report. The cocoa endowed country placed 87th out of 181 countries marked worldwide.The ‘Doing Business’ report rank economies based on 10 indicators of business regulation such as the tracking and time to meet government requirements in setting up a business, cross border trading, tax payments, according to the Ghanaian Chronicle. The report does not reflect on macro economics policy, currency volatility, investor’s perceptions or crime rate.The report which ranked Ghana in the 87th position out of 181 countries world wide said Ghana is the easiest place to set up a business and the 10 top economies in Africa. It further disclosed that Ghana is the best place to register property and a country which protects investors.Singapore topped the chart for the third time in a row whiles New Zealand and The United States took second and third positions respectively. The report praised Mauritius which was ranked the highest in the continent whiles Sierra Leone, Liberia and Rwanda which are just emerging from war were described as the regions most active reformers of business regulations.Sabine Hertveldt, co-author of the report said “With more reforms of business regulations in Africa, than in any previous year, we are seeing many countries get inspiration from their neighbors about how to reform.”She added: “Increasingly, countries in the region are committing to reform agendas that make it easier to do business.”