Maldives plummets in the World Bank’s Ease of Doing Business Index ranking

Once again, Maldives has slipped on the Ease of Doing Business Index of the World Bank.

The annual report shows that from the rank of 139 in 2018, Maldives plummeted to 147th.

In the Ease of Doing Business Index ranking, ten indicators are considered. Maldives’ points in the ten categories are: 

Starting a business: 74 points

Dealing with construction permits: 63 points

Getting electricity: 149 points

Registering property: 176 points

Protecting minority investors: 147 points

Paying taxes: 119 points

Trading across borders: 157 points

Enforcing contract: 124 points

Resolving insolvency: 141 points

The World Bank noted in their report that there had been no changes in business laws in the Maldives over the past year.

Over the past five years, the rating of Maldives on the index has fallen significantly. Although in 2014 the Maldives ranked number 79 on the list, in 2015 it dropped to 95. It also slipped to 129 in 2016, then 135 in 2017, before dropping to 139 in 2018.

Maldives ranks third to last in the table listed SAARC countries. Bangladesh rated 168 while Afghanistan was at the edge at 173. India, Bangladesh, and Pakistan have shown the greatest success in advancing the business sector among South Asian countries.