Regrettably, of the six-nation grouping of Gulf Cooperation Council (GCC) countries, only the UAE and Oman have succeeded in improving their rankings in a key global publication dealing with ease of doing business. The reference is the recently published Doing Business 2013, produced jointly by the World Bank and the International Finance Corporation.
The report offers quantitative comparisons on business regulation and the protection of property rights in 185 economies with regards to small and medium enterprises. The SMEs are widely regarded internationally as major sources of new employment opportunities in many parts of the world, with GCC region being no exception.
Reviewed economies, which fairly represent the global economy, are ranked on results achieved in relation to 10 different areas, in deemed essential. These variables comprise of starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
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