World Bank announces new methodology to assess the business climate in 180 countries

Inspenet, May 2, 2023

The World Bank will announce a new methodology to assess the business climate in up to 180 countries, after irregularities in the “Doing Business” ranking and favoritism towards China forced its cancellation two years ago.

The new replacement annual series, dubbed “Business Ready,” will have a pilot edition in spring 2024, covering an initial group of 54 economies from Asia, Latin America, Europe, the Middle East, and sub-Saharan Africa.

1748 Banco Mundial nueva metodologia 1
World Bank announces new ‘Business Ready’ methodology

World Bank seeks to restore confidence with its new ‘Business Ready’ report

The objective of the project is to help countries attract investment, boost employment and productivity to accelerate development. “‘Business Ready’ improves on and replaces the previous ‘Doing Business’ project of the World Bank Group. It reflects a more balanced and transparent approach when assessing a country’s business and investment climate,” the multinational organization said in a statement. release.

The new approach allows a more complete and clear measurement of the investment climate of countries, something very necessary in a world economy in a context of general slowdown. “Business Ready” was developed based on recommendations from experts from the World Bank, States, the private sector and civil society groups.

For the first time, the new methodology includes workers’ rights as defined by the International Labor Organization, while acknowledging that regulation can also have positive aspects. The bank will publish all data collected for the project, including raw data, scores, and score calculations, to ensure full data transparency. In addition, it will provide the necessary tools so that people outside the sector can reproduce the results of the data evaluations.

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Photo : Envato/Freepik

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