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World Bank unveils 'Business Ready' initiative


The World Bank is set to introduce a new methodology for evaluating the business climate in up to 180 countries. Called “Business Ready”, it follows the cancellation of the “Doing Business” rankings two years ago due to concerns over data irregularities and bias towards China. The pilot edition of the new annual series will be published in Spring 2024, initially covering 54 economies across Asia, Latin America, Europe, the Middle East, and Sub-Saharan Africa. The bank plans to add more countries in subsequent reports over the next two years. Business Ready is designed to help nations attract investment and boost jobs and productivity for accelerated development. The new approach considers worker rights, as defined by the International Labor Organization, and acknowledges the positive aspects of regulation.

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