The world’s easiest countries to do business with aren’t global giants like China, Brazil, and India, according to a newWorld Bank ranking: The small and well-organised economies of Singapore and New Zealand led 187 nations in the annual “Ease of Doing Business” list.
Australia managed to hold on to its high ranking position, coming in at number 10 on the list, narrowly behind the United States (#7), United Kingdom (#8) and Finland (#9).
China, the world’s second-largest economy, came in at 90th and has barely improved from two years ago when it was listed 93rd out of 189 countries.
The 12th annual report is designed to measure “ease of business” by using quantitative
indicators on business regulations that can be compared across 189 nations.
According to the report, those indicators include starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
Estonia, Germany, and Switzerland improved their standings and placed in the top 20, while much of the rest of the nations have only been slightly reordered.
Syria, Afghanistan, Venezuela, and Central African Republic were among the worst nations to conduct business with.