The Long-Term Impact on Economic Growth

Through PFD and GIG, Kosovo and Vietnam have made tremendous progress. In the 2018 report, Kosovo was ranked number 40 out of 190 countries in overall ease of doing business. Impressively, it ranked number 10 out of 190 countries in the “ease of registering or starting a business” category and was one of the top 10 most improved economies in the world. Vietnam saw its highest increase in rankings in the past decade, increasing 14 ranks compared to last year’s report. It is now ranked at number 68 out of 190 countries in overall ease of doing business.

A robust private sector creates more jobs, facilitates trade, and stimulates economic activity. Improvements in a country’s business enabling environment can catalyze lasting, sustainable economic growth by encouraging foreign direct investment and fostering an entrepreneurial domestic business community. A vibrant private sector, in the medium and long term, also means increased domestic revenue mobilization — allowing governments to invest back in providing improved services to its citizens.

The World Bank Doing Business Report gives countries a tool and a guide to measure improvement toward these goals and enhance overall private sector competitiveness. With the help of USAID, Kosovo and Vietnam are using the report as a roadmap to reform, and to success.