Tunisia in the top 5 of the best African countries to do business in 2019, according to Forbes

Tunisia in the top 5 of the best African countries to do business in 2019, according to Forbes

Source: Économie –Tunisie

As every year, the American magazine Forbes draws its ranking of the best and worst countries to do business. The 2019 ranking of the best countries for business has revealed its secrets.

Tunisia, ranked 82 worldwide, has positioned itself well on the African continental level: it ranks fifth, ahead of Botswana (83), Rwanda (90), Kenya (93) and Egypt (95).

Occupying the second position in the Maghreb, Tunisia won five places compared to the 2017 ranking. It also ranks fifth in the African continent, according to the World Bank’s report “Doing Business 2019”, and is making progress and continues to make considerable efforts to improve its position.

Among the areas for improvement are the “chronic socioeconomic problems, including the high rate of youth unemployment, which has persisted since the 2011 revolution”. “Successive terrorist attacks against the tourism sector and strikes by workers in the phosphate sector, which together account for almost 15% of GDP, slowed growth from 2015 to 2017,” the US magazine said, adding that “Tunisia seeks to increase foreign investment and is working with the IMF through an agreement to fill the fiscal gap”.

Based on 15 key criteria that include property rights, innovation, taxes, corruption, freedom (personal, economic and monetary), bureaucracy and investor protection, availability of labour force, infrastructure, market size and quality of life, the last Forbes ranking offers some good places to several African countries.

At the head of the African continental group is Mauritius, which ranks 39th in the world, followed by South Africa, which finished in 59th in the world and Morocco in 62nd place.

According to this ranking, established at the end of December for the thirteenth consecutive year, most of the African countries appear at the bottom of the table. Of the ten worst countries to do business in the world, seven are located in Africa. Guinea Bissau (159), Congo (160) and the Central African Republic (161) close the world ranking. All of them generally have difficulties in terms of innovation, freedom of trade and protection of investors.

Globally, the United Kingdom is at the top of the podium ahead of Sweden, Hong Kong, the Netherlands, New Zealand, Canada, Denmark, Singapore, Australia and Switzerland. As for the United States, it ranks 17th, while China ranks 49th. The United Arab Emirates ranks 32nd; they are ahead of the Arab countries, followed by Qatar (45), Oman (50) and Saudi Arabia (51).