Burundi is fast catching up as a favourable investment destination, a new World Bank report shows.Though ranked behind all its East Africa Community peers, Burundi is among the global top 10 improvers in the ease of doing business for the second consecutive year.
The country instituted four regulatory reforms in the areas of starting a business, dealing with construction permits, registering property, and trading across borders.
Rwanda however remain the top performer in the EAC, standing out as having consistently improved since 2005.
The country is ranked number 52 globally in the ease of doing business out of 185 countries. The report ranks Kenya at number 121 behind Uganda at 120 and Tanzania at 134. Burundi still lags behind globally at number 159.
The Doing Business in the East African Community 2013 report was released yesterday and compares business regulations and identifies good practices across the EAC in 10 areas covered by the joint World Bank and IFC annual global Doing Business report.
From June 2011 to June 2012, the five EAC economies implemented a combined nine regulatory reforms across eight areas measured by Doing Business.
The report finds that the EAC ranks on average 117th (among 185 economies) on the ease of doing business. But if all EAC countries adopted the best practices in the region across all areas of regulation covered, the EAC would rank 26th, equal to the United Arab Emirates.
Meanwhile the World Bank has appointed Diariétou Gaye as the new country director for Kenya, Rwanda and Eritrea.Gaye, a Senegalese national, assumed her new position in Nairobi on May 1, replacing Johannes Zutt, who has moved to Bangladesh and Nepal.
Gaye joined the Bank in January 1996 as a senior country economist, after serving in the Ministry of Economy and Finance in Senegal. She has since held various positions, including as country manager for Benin and Togo.