Nigeria, India, China among 10 most improved economies – World Bank

Despite the bitter trade war, in which the United States is demanding reforms from Beijing to protect intellectual property and open its economy further to American businesses, China made the top 10 list for the second year in a row.

With those improvements, China leapfrogged France to take the 31st spot in the “ease of doing business” ranking, moving up 15 places,  according to the World Bank report.

And despite US complaints, the report credited China with improving protections for minority investors, strengthening procedures for enforcing contracts and making trade easier with changes to customs administration and port infrastructure.

Removing barriers facing entrepreneurs generates better jobs, more tax revenues and higher incomes, all of which are necessary to reduce poverty and raise living standards, World Bank Group President David Malpass said in a statement.

Nigeria is also ranked 131 on the list after moving up by 15 places from its 2019 spot.

Nigeria conducted reforms impacting six indicators, including making the enforcement of contracts easier, which placed the 200-million-person economy among the world’s top improvers.

Only two Sub-Saharan African economies rank in the top 50 on the ease of doing business rankings while most of the bottom 20 economies in the global rankings are from the region, WorldBank said in a statement.