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Ease of doing business: The 3 best & worst in Asia

THE World Bank recently released its annual Ease of Doing Business list covering the period from June 2 last year to June 1 this year. The list, which compares business regulations for domestic firms in 190 economies, tracks key indicators for areas such as the ease of starting a business, getting electricity, contract enforcement, taxes and bankruptcy proceedings. In the list, China was found to be one of this year’s top 10 improvers, advancing more than 30 spots to 46th place in the global rankings, while India became South Asia’s top-ranked economy, advancing 23 spots to 77th place in the global ranking. Elsewhere, other countries like Taiwan (15th), Malaysia (24th) and Thailand (26th) were also ranked high in the report. The report said between June 2, 2017, and May 1 this year, 128 governments introduced a record 314 reforms benefitting small and medium business and entrepreneurs, enabling job creation, and stimulating private investment. “Governments have the enormous task of fostering an environment where entrepreneurs and small and medium enterprises can thrive,” said World Bank Group President Jim Yong Kim. “Sound and efficient business regulations are critical for entrepreneurship and a thriving private sector. Without them, we have no chance to end extreme poverty and boost shared prosperity around the world.” Other than the countries listed above, here are the nations who fared best and worst according to the rankings: Best 1. Singapore A general view of Hongkong International Terminals (HIT), owned by Hutchison Port Holdings, as part of the Kwai Tsing Container Terminals for transporting shipping containers in Hong Kong, China July 25, 2018. Source: Reuters/Bobby Yip With a Ease of Doing Business Ranking score of 84.22, Hong Kong is at fourth place in the overall list, just behind wealthy European country Denmark. The report highlighted that Hong Kong made... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, Ease of doing business: The 3 best & worst in Asia, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you Ease of doing business: The 3 best & worst in Asia

 

 

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Published By: ASIAN CORRESPONDENT - Tuesday, 13 November

 

 

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