Singapore is once again the best place in the world to do business, a ranking it has held for eight consecutive years, revealed the annual Ease of Doing Business report from the World Bank. Rival Hong Kong came in second, followed by New Zealand, the US and Denmark. Some of the city-state’s neighbours showed an improvement this year, with Malaysia jumping from 12th to 6th place, while the Philippines climbed 30 spots to 109th position, making it one of the most improved countries. Other countries that made the top 10 are Korea (6), Georgia (8), Norway (9) and the UK, which fell from 7th to 10th place. The report ranks 189 countries based on various factors such as ease of starting a business, trading across borders, registering property, enforcing contracts, paying taxes, resolving insolvency, dealing with construction permits and protecting investors. “The ranking on the ease of doing business, and the underlying indicators, do not measure all aspects of the business environment that matter to firms and investors or that affect the competitiveness of the economy,” the report said.“Still, a high ranking does mean that the government has created a regulatory environment conducive to operating a business.”
Posted on: Thu, 31 Oct 2013 02:05:01 +0000
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