Maldives has once again slipped on the World Bank's Ease of Doing Business Index.
The yearly report showed Maldives dropped to 147th from 2019's rank of 139.
Ten indicators are considered in ranking the Ease of Doing Business Index. The points scored by Maldives in the ten categories are:
Starting a business: 74 points
Dealing with construction permits: 63 points
Getting electricity: 149 points
Registering property: 176 points
Protecting minority investors: 147 points
Paying taxes: 119 points
Trading across borders: 157 points
Enforcing contract: 124 points
Resolving insolvency: 141 points
In their report, the World Bank noted that no laws pertaining to business had changed in the Maldives over the last year.
Maldives' rank on the index has plummeted significantly over the past five years. While Maldives ranked number 79 on the index in 2014, it dropped to 95 in 2015. It further slipped to number 129 in 2016, and 135 in 2017, before dropping to 139 in 2018.
Maldives comes third to last among SAARC countries ranked on the index. While Afghanistan ranked at the bottom at 173, Bangladesh ranked 168. India, Bangladesh and Pakistan showed most progress among South Asian countries in advancing the business sector.