Singapore is the best country to do business in

Singapore is the best country to do business in

Singapore Maintains first place in the report's global ranking World Bank Group on Ease of doing businessfollowed by New Zealand, Denmark, Republic of Korea, Hong Kong SAR, China, United Kingdom, United States, Sweden, Norway, and Finland, To complete the list of the 10 economies with More conducive regulatory environments To business. For The countries that improved their performance the most are Costa Rica, Uganda, Kenya, Cyprus, Mauritania, Uzbekistan, Kazakhstan, Jamaica, Senegal and Benin..

Latin America and the Caribbean It is the region with the lowest rate of reforms. Costa Rica and Jamaica are among the ten economies that have improved their performance the most globally. Mexico has the best economy in the region.ranked 38th in the world.

In the area Europe and Central Asia The number of reforms was also significant, with Cyprus, Uzbekistan and Kazakhstan among the ten economies that improved the most in their performance worldwide. The region had the highest proportion of economies implementing at least one reform, as well as the highest number of regulatory reforms per economy.

East Asia and Pacific It is home to four of the world's five highest-ranked economies, including Singapore, which holds the top spot, while in South AsiaIndia, Bhutan and Sri Lanka are among the economies that have implemented various reforms. The highest-ranked economy is Bhutan, which ranks 71st globally.

in Middle East and North AfricaThe United Arab Emirates, Morocco, Tunisia and Algeria are among the economies that have implemented various reforms. The United Arab Emirates has the highest economy in the region, ranking 31st in the world.

Finally, in Sub-Saharan Africa Mauritius stands out, ranking 32nd in the world, and the region makes up half of the top 10 economies worldwide. Côte d’Ivoire, Madagascar, Niger, Togo and Rwanda also implemented multiple reforms.

Developing economies have accelerated their regulatory reforms in recent months to make it easier for local entrepreneurs to open and operate their businesses, the report says. Most of the new reforms implemented were aimed at improving the efficiency of the systems, by reducing their cost and complexity. The largest number of these were implemented in the area of ​​starting a business, which measures the time it takes to obtain a permit to open a new business and the costs associated with it.

Data from Doing business The past 12 years show that. In 2003, it took an average of 51 days to open a new business worldwide. That time has been cut by more than half to 20 days. The report also points to the increasing use of the Internet by entrepreneurs to interact with government and efforts to add more quality measures to the institutions that support the business environment, in order to better understand the realities on the ground.

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