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Malawi ranks poorly on Forbe’s business report

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US-based global media giant, Forbes, has ranked Malawi poorly on business friendliness in 2017.
According to Forbes’ Best Countries for Business Ratings for 2017, Malawi ranks on position 136 out of 153 global economies.
Within the region, Malawi ranks above Zimbabwe, which is on position 145.
According to the rankings, the United Kingdom is at the top for the first time, up from fifth in 2016.
Forbes says the rankings are determined using factors such as property rights, innovation, taxes, technology, corruption, infrastructure, market size, political risk, quality of life, workforce, freedom, red tape and investor protection.
“Each category was equally weighted. We only included countries with data across at least 11 categories,” Forbes says.
Malawi’s neighbours Zambia, Tanzania an d Mozambique are ranked on position 95, 114 and 127, respectively.
Forbes says it used the World Bank’s Doing Business Report to grade countries’ taxes, investor protection and red tape/ bureaucracy.
“The Heritage Foundation’s Index of Economic Freedom provided the basis for our ratings on trade freedom and monetary freedom,” Forbes says.
It added that ratings on technological readiness, innovation and infrastructure were derived from of the World Economic Forum’s annual Global Competitiveness Report.
“We used the Property Rights Alliance’s International Property Rights Index to gauge property rights, which was led by New Zealand,” Forbes says.
Malawi is on position 110 on the World Bank’s recent Ease of Doing Business Index.

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