Countries where agriculture is a major economic activity have greater room for improving key regulations that govern the agribusiness sector, a new World Bank report finds. In contrast, countries where agriculture accounts for less than 25 percent of GDP have better regulatory systems that foster agribusiness and ensure quality control and safety of food production, says the first edition of Enabling the Business of Agriculture 2016: Comparing regulatory good practices.

The report examines regulations that affect private enterprise in agribusiness in 40 countries around the world. Global population is estimated to grow to 9 billion by 2050, from the current 7.3 billion people, and food demand is projected to rise by 20 percent over the next 15 years. The largest increases are expected in Sub-Saharan Africa, South Asia and East Asia. As countries accelerate their efforts to achieve the new Sustainable Development Goals (SDGs), ending poverty and hunger will require well-performing agriculture and food sectors that can cater to the rising demand, which in turn depends on smart regulations that enable agribusinesses to thrive.