Singapore is “The Best Country” to Do Business – The World Bank has already named the best countries around the world where to run a good business. Its annual report still declared Singapore as the best country in the world to run a business.
Singapore is simply the most efficient place from which to import and export. The country is also the leader in protecting investors and minority shareholders.
The World Bank’s Doing Business rates 183 countries globally.The annual Doing Business report studies was published since 2004. It has nine main criteria in total. The other seven factors evaluated are paying taxes, trading across borders, registering property, dealing with construction permits, closing a business, enforcing contracts and protecting investors.
However, it does not study wider conditions including a country’s infrastructure, workforce skills, or security.
According to the judging criteria such as how easy it is to begin a business or get credit, the UK, on the other hand, came in fourth place, while Chad came last. However, Georgia has seen the biggest improvement over the past five years.
Of all the 183 countries surveyed, the World Bank said 117 implemented new business-friendly regulation between June 2009 and May 2010, this is the 12 months covered fro the 2011 report.
Below is the list of the best countries in which to run a business:
2. Hong Kong
3. New Zealand
4. United Kingdom
5. United States
9. Republic of Ireland