Ease of Doing Business Index replaced
MBABANE - Following the discontinuation of the Ease of Doing Business Index by the World Bank Group in September of 2021, Eswatini has continued to target implement improvements to the business environment.
According to the Ministry of Commerce, Industry and Trade, a new benchmark programme called Business Ready has been researched, conceptualised and formulated and is currently being rolled out to replace the Ease of Doing Business Index.
Business Ready is being introduced using a phased approach where countries are grouped into 60 to be implemented in three phases called waves, beginning in 2023 until 2026.
Eswatini has been chosen to participate in the second wave which the data collection shall be done in 2024 and results shall be published in May 2025.
Reported
The ministry reported that the World Bank (WB) is preparing to launch a new Enterprise Survey in Eswatini.
The objective of this survey is to receive feedback from private sector enterprises on the state of the business environment using a set of globally comparable survey instruments and methodology.
These surveys have provided important inputs in understanding ,the dynamics of the business environment in emerging economies.
The survey has been implemented in Eswatini two times since 2006. In 2023-2024 the Enterprise Survey will be administered to almost 40 000 enterprises in more than 60 countries around the world.
These surveys will be added to existing similar surveys covering 155 countries and will also be used to inform portions of the new Business Ready (B-READY) project of the WB.
The upcoming survey in Eswatini plans to interview a nationally representative sample of 150 private firms to obtain an unbiased picture of the conditions and evolution of the business environment in the whole economy.
The ministry further assured its commitment towards the ease of doing business programme.
Along with the ease of doing business the Ministry of Commerce, Industry and Trade has progressed very well with the implementation of the Electronic Business Registry project which is sponsored by the Government of New Zealand.
During the last quarter of the 2023-2024 financial year the Draft Companies Bill that was submitted to the Attorney General’s Office was approved, reviewed by the New Zealand consultants and is ready to be submitted to Cabinet for approval.
Entails
According to the ministry, the team of experts will be visiting the country to start off Phase II which entails design, procurement and installation of the Electronic Business Registry.
Final diagnosis of the current online company registration system and trading licences system, design and procurement of the new systems and migration of databases to the new platform, will continue in the new financial year of 20242025.
The ministry reported that the Hlatikhulu Factory shell was 99 per cent complete. It was envisaged that the practical completion for this factory shell shall be attained by end of February 2024.
Jonnson Workwear factory shell: This is the construction of a 20 000 sqm factory shell, with auxiliary buildings including a canteen and locker room.
The factory shell is 50 per cent completed.
The bulk earthworks have been completed and the columns have been raised. Steel is being sourced after which there shall be a covering of the building with specified sheets. According to the works schedule this factory shell will be completed by 12 July 2024.
The contract sum for this factory shell including professional services is: E209 036 903.18 and to date, E104 670 582.68 has been disbursed.
Ndzevane factory shell: This is the construction of a 7 000 sqm factory shell, with auxiliary buildings including a canteen, locker room.
The factory is still under the construction of the bulk earthworks.
The Contract Sum for this factory shell is: E84 380 878.49 and to date E 6 071 916.27 has been disbursed. According to the schedule of works, this factory shell shall be completed by end of December 2024.
Market Access & Trade Facilitation: This project commenced in the financial year 2015/20216. It was intended to put in place the National Quality Infrastructure i.e. Legal Framework, Laboratory Equipment, Construction of Laboratories and capacity building.
In this financial year the budget procured temperature calibration laboratory equipment and calibration of mass pieces.