The Philippines ranked poorly in getting credit (184th), starting a business (166th), enforcing contracts (151st) and trading across borders (104th).
The reforms are a significant acceleration of the country's efforts to improve the business climate for domestic small and medium enterprises, according to the report.
"The government is committed to taking steps to facilitate in conducting business and to attract foreign investment", Dawood said. For sure, it is good to benchmark the country's progress on various counts of starting a business, but it is also important not to lose sight of the fact that this does not measure macro stability policies and development of the financial sector.
Globally, New Zealand topped the list, followed by Singapore, Denmark, Hong Kong, Korea, Georgia, Norway, the USA, the United Kingdom and Macedonia.
"We are incentivising those who are doing honest business", Ramesh Abhishek, an official in the industries department of Modi's government, told a news conference on Wednesday.
President Uhuru also expressed his frustration with some lawyers who have persistently defeated reforms at the Lands Ministry especially at the Registry. "I'm sure we will continue to improve it more and more".
The report, however, singled out areas relating to construction permits, registration of properties and enforcement of contracts among others as those that needed improvement.
"These efforts have had transformative and positive effects on the judicial system as a whole, but also in the areas of commercial litigation and insolvency specifically", the report said.
China is the only economy from East Asia and the Pacific among the ranking's top 10 climbers.
Board of Investment, being the secretariat of Prime Minister s Steering Committee on Doing Business Reforms, briefed the press on the reforms behind improvements made in Pakistan s ranking and reforms being introduced to improve it further. The changes also simplified documentation requirements, improved processing times, and expanded public access to information.
According to details of the report, of the 190 countries ranked by the World Bank, Nigeria ranked 146 in 2018, dropping by a spot from its 145th position in 2017. "As a highly respected institution, the World Bank has a responsibility to ensure that an economy is not unduly disadvantaged and that its report reflect the realities on the ground", the statement added. Five reforms were carried out in Mauritius during the past year, including the elimination of a sole gender-based barrier.