*Qatar tops the world in 'registration of property' index
Qatar has been placed first in the global property registration procedure index of the World Bank's Ease of Doing Business 2020 report.
The World Bank had announced last month that Qatar was among the top 20 countries that have undertaken business environment reforms for 2020. As a result the country was ranked 77th globally on the Ease of Doing Business 2020 index.
The World Bank's Ease of Doing Business 2020 report is based on 10 indicators and Qatar's global valuation rose in three key indicators including the ease of registration of property ownership, where Qatar ranked first in the world.
According to the report, Qatar made significant improvements in three business areas last year, namely getting electricity connection, registering property and access to credit, measures which reflected in the country improving its rankings in the WB index for respective groups.
The Ease of Doing Business report is an annual report issued by the World Bank's Business Unit, assessing 190 economies on multiple indicators.
World Bank regional director for the GCC Essam Abu Sulaiman said: "We look forward to Qatar continuing this reform momentum and we are committed to supporting them in their national sustainable development strategy."
The Ministry of Justice welcomed the WB's Ease of Doing Business 2020 report, which raised Qatar's assessment in three indexes, including the global property registration procedure index, from the 20th place last year to the first place globally in the 2020 classification.
HE the Minister of Justice and Minister of State for the Council of Ministers Affairs Dr Issa Saad al-Jafali al-Nuaimi, said the top rating of Qatar "reflects the solid national will of various government agencies to implement the directives of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to work on the completion of development projects, and fortify the national economy to ensure the lead in international development indexes, and upgrade the level of services provided to the public to keep up with the sectoral plans and visions of Qatar's strategic plans and the goals of Qatar e-Government 2020".
Saud al-Attiyah, Deputy Undersecretary for Economic Affairs at the Ministry of Finance, said.“The improvement in Qatar’s ranking resulted from several important reform policies undertaken and enhanced co-operation with many ministries, public entities, and the private sector with the aim to position Qatar as the region’s preferred business and financial hub.”
Earlier this year, the ministerial group for stimulating and co-operating with the private sector in the economic development projects signed an agreement with the World Bank Group to conduct an investment climate assessment and an evaluation on the business regulation environment in Qatar aimed at promoting and expanding growth driven by the private sector.
