Central African Republic Report
Entrepreneurial Missions Index
4,401,051 (114th most populous country in the world)
Gold and diamond mining, logging, brewing, textiles, footwear, assembly of bicycles and motorcycles
Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Central African Republic, visit https://www.cia.gov/library/publications/the-world-factbook/geos/cf.html.
Business InformationThe World Bank ranks Central African Republic as 0 out of 183 economies in terms of ease of doing business. The country ranks as 0 (of 183) in terms of ease of starting a business.
It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Central African Republic.
The World Bank ranks Central African Republic as 183rd out of 183 economies in terms of ease of doing business. The country ranks as 159th (of 183) in terms of ease of starting a business.
It requires 8 procedures, takes 22 days, and costs 244.9% of income per capita to start a business in Central African Republic.
In order to start a business in Central African Republic, one must follow these procedures:
- Procurement of the criminal record at the National Tribunal for the first company directors
- Deposit the legally required initial capital in a bank and obtain deposit evidence
- Procurement of the Resident certificate
- All acquired documents are filed at the public notary’s office for notarization
- Register company at Guichet Unique de formalite des Entreprises (GUFE)
- Advertise the company formation in a national news daily
- Notify authorities of hiring of employees
- Obtain business license (agreement)
Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Central African Republic, visit http://www.doingbusiness.org/.
The World Economic Forum (WEF) was founded in 1971 by Klaus Martin Schwab at the University of Geneva in Switzerland. It is a non-profit foundation best known for its annual meeting in Davos, Switzerland, which brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss both economic and social issues facing the world. The WEF also serves as a think tank, and publishes a wide range of reports focusing on issues of concern and importance to Forum communities. In particular, Strategic Insight Teams focus on producing reports of relevance in the fields of competitiveness, global risks and scenario thinking. The Global Competitiveness Report measures competitiveness of countries and economic competitiveness among a wide range of factors such as corruption, tax rates, work ethic, and many others.
Central African Republic Economic Freedom
The annual survey Economic Freedom of the World is an indicator produced by the Fraser Institute, a libertarian think tank which attempts to measure the degree of economic freedom in the world's nations. Economic Freedom of the World index has been more widely used than any other measure of economic freedom, because of its coverage of a longer time period
Their measure of economic freedom is based on that the following standards:
- Personal choice rather than collective choice,
- Voluntary exchange coordinated by markets rather than allocation via the political process,
- Freedom to enter and compete in markets, and
- Protection of persons and their property from aggression by others.
A state will rate high when it focuses on protection of people and their property from the actions of aggressors, enforcement of contracts, and provision of the limited set of public goods like roads, flood control projects, and money of stable value and little else, but a country’s rating on the EFW summary index will fall as government expenditures increase and regulations expand.
Central African Republic Summary
2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.