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Seychelles’ doing business index ranking drops |05 November 2013

Seychelles is ranked 80th out of 189 countries in the 2014 World Bank Doing Business report.

This is a drop of six places from last year’s 74th place and the Ministry of Finance, Trade and Investment (MFTI) has expressed disappointment that Seychelles has fallen back in this index.

The MFTI has identified several key areas where policy reforms have already been implemented, but noted that these measures were not fully in place before the cut-off date for reporting to the World Bank.

 These policy changes include: (i) the introduction of online registration of companies; (ii) amendments to the Companies Act; and (iii) the enactment of a modern insolvency law which were to be included in this year’s assessment, however, due to delays in implementation of some of these actions they could not be included before the cut-off date for the assessment.

 The ministry is confident with those actions now implemented, plus other important measures planned between now and mid-2014 Seychelles will improve its ranking next year.

Those planned actions and measures will be elaborated upon in further detail during the 2014 budget speech to be presented by the Minister for Finance, Trade and Investment Pierre Laporte in early December.

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Doing Business index rankings drop attributed to implementation of improvements after survey cut-off date
 
The 2014 World Bank Doing Business report has placed Seychelles eightieth out of 189 countries. This is a drop of six places from last year’s 74th place. The Ministry of Finance, Trade and Investment (MFTI) has expressed disappointment that Seychelles has fallen back in this index.
 
MFTI has identified several key areas where policy reforms have already been implemented, but noted that these measures were not fully in place before the cutoff date for reporting to the World Bank.
 
These policy changes include: (i) the introduction of online registration of companies; (ii) amendments to the Companies Act; and (iii) the enactment of a modern insolvency law which were to be included in this year’s assessment, however, due to delays in implementation of some of these actions they could not be included before the cut-off date for the assessment.
 
The Ministry is confident with those actions now implemented, plus other important measures planned between now and mid-2014 Seychelles will improve its ranking next year. Those planned actions and measures will be elaborated upon in further detail during the 2014 budget speech to be presented by the Minister for Finance, Trade and Investment in early December.



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