Sunday, October 09, 2005

The UAE is not as high as you'd think on the World Bank's Doing Business Index.

Emirates Today reports:
According to the survey, it takes only three steps over nine days to register a property in the UAE, compared with four steps over 33 days in the member countries of the Organisation of Economic Cooperation and Development (OECD). But the survey said entrepreneurs have to go through 12 steps over 54 days to open a business in the UAE – compared with six steps over 19 days in the OECD. It takes a business 5.1 years to process a bankruptcy in the UAE with a recovery rate of 5.5 cents per dollar, compared with 1.5 years and a recovery of 73.5 cents per dollar in the OECD.
About that last one on bankruptcy: Ouch.


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