World Bank Extends Gratitude to TAG-Legal for Contribution to Doing Business 2013 Report

TAG-Legal has previously contributed to the Doing Business reports by conducting surveys and researches in various Arab and Middle Eastern countries

WASHINGTON, DC --- November 19, 2012 --- The World Bank, a vital source of financial and technical assistance to developing countries around the world, has recently launched the Doing Business 2013 Report entitled “Smarter Regulations for Small and Medium-Size Enterprises”. The World Bank extended gratitude to Talal Abu-Ghazaleh Legal (TAG-Legal) team for their support of the Doing Business legal research.

TAG-Legal has previously contributed to the Doing Business reports by conducting surveys and legal researches in various Arab and Middle Eastern countries and providing the World Bank with the results that were adopted for developing the reports.
The Doing Business Project provides objective measures of business regulations and their enforcement across 185 economies and selected cities at the subnational and regional level.
The Doing Business Project, launched in 2002, looks at domestic small and medium-size companies,  and measures the regulations applying to them through their life cycle.
By gathering and analyzing comprehensive quantitative data to compare business regulation environments across economies, Doing Business encourages countries to compete towards more efficient regulation; offers measurable benchmarks for reform; and serves as a resource for academics, journalists, private sector researchers and others interested in the business climate of each country.

Ms. Yousriya Abu El-Ezz, executive director of Talal Abu- Ghazaleh Legal said: "We contributed in 23 surveys from eight economies this year. The following offices participated from TAG-Legal: TAG-Legal Bahrain, TAG-Legal Egypt, TAG-Legal Jordan, TAG-Legal Syria, TAG-Legal Oman, TAG-Legal KSA, TAG-Legal UAE and TAG-Legal Iraq."

Here are some key findings of the report:

The report marks the 10th edition of the Doing Business series. Over the past decade, these reports have recorded nearly 2,000 regulatory reforms implemented by 180 economies. The reforms have yielded major benefits for local entrepreneurs across the globe. For example:

•    Since 2005, the average time to start a business has fallen from 50 days to 30—and in low-income economies the average has been reduced by half.

•    In the past eight years, the average time to transfer property fell by 35 days, from 90 to 55, and the average cost by 1.2 percentage points—from 7.1 percent to 5.9 percent of the property value.

•    In the past eight years, improvements to simplify tax compliance have reduced the time required annually to comply with the three major taxes measured (profit, labor, and consumption taxes) by 54 hours on average.
 
•    In the past year alone, 108 economies implemented 201 regulatory reforms that made it easier for local entrepreneurs to do business.

 To review full report, data and media materials, including region-specific press releases and fact sheets, please visit  the following website: www.doingbusiness.org

Talal Abu-Ghazaleh Legal (TAG-Legal)

Founded in 1998, Talal Abu-Ghazaleh Legal (TAG-Legal) is a member of Talal Abu-Ghazaleh Organization (TAG-Org), a global service provider founded by Mr. Talal Abu-Ghazaleh, who is a noted philanthropist and a visionary innovator in professional business. TAG-Legal was established to add a new model of legal services providers relying on lasting collaboration with the local law firms and, at the same time, gaining international recognition with a “who’s who” of global and Arab business clients.

It constantly strives to maintain and contribute to global standards of the best professional practice through high quality, hard work and dedication from all TAG-Legal staff. TAG-Legal enjoys international connections and resources in every region of the globe, allowing its clients to smoothly traverse borders, boundaries and industries, and providing them with superior service across regions and time zones.

Doing Business 2013 Report   view