Singapore is world's most business-friendly for seventh year running

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http://www.todayonline.com/World/EDC121024-0000025/Spore-tops-World-Bank-study-again

Singapore ranked at the top of the World Bank's annual competitiveness study for the seventh straight year as developing nations picked up the pace on reforms to make it easier to set up and operate businesses.

Hong Kong had the second-best business environment, followed by New Zealand, the United States, Denmark, Norway and the United Kingdom, rankings that were unchanged from last year.

The study, now in its 10th year and published together with the International Finance Corporation, tracks indicators such as the time it takes to start a business, submit tax returns and export or import goods. It differs from the World Economic Forum's global competitiveness index, which monitors different indicators, including macro-economic performance and public finances.

In the World Bank study, Singapore ranked well for trading across borders - the time and cost associated with exporting and importing goods by sea transport - dealing with construction permits and protecting investors. It slipped on two indicators: The ease of getting credit and the ease of paying taxes.

Poland, which ranked 55th, showed the most improvement of the 185 nations covered by the study, as it made it easier to register property, pay taxes, enforce contracts and resolve insolvency. Other countries to implement substantial reforms were Sri Lanka, Ukraine, Uzbekistan, Burundi and Costa Rica.

The Central African Republic was found to be the worst place to do business, followed by Chad, the Republic of Congo and Eritrea.