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10/12 Sunday 09:34PM

easiest places to do business

The World Bank has published a Doing Business 2012 report that measured 183 countries, covering the period from June 2010 to May 2011, and the top 10 countries that make doing business easy are: Singapore (1), Hong Kong (2), New Zealand (3), United States (4), Denmark (5), Norway (6), United Kingdom (7), Republic of Korea (8), Iceland (9) and Ireland (10). The highest climber in the rankings this time around was Morocco, which leapt 21 places from its previous 115th place to 94th place.

Besides Morocco, 11 more economies were considered having the most improved ease of doing business across several areas of regulations as measured by the report. The list includes Armenia, Burundi, Cape Verde, Columbia, Latvia, Moldova, Republic of Korea, Sao Tome and Principe, Sierra Leone, Solomon Islands and the former Yugoslav of Macedonia.

The World Bank's Doing Business report tracks regulatory reforms aimed at improving the ease of doing business by measuring their impact on 10 indicators: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

Around the world, 125 economies implemented 245 regulatory reforms making it easier to do business in 2010/11, 13% more than in the previous year. The increase in regulatory reforms is especially welcomed for small and medium-size businesses which are the main job creators in many countries.

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