Let’s Do Business
Word Bank releases “Doing Business 2008,” ranking the most business-friendly countries in the world:
Singapore is the most business-friendly country in the world, according to the World Bank’s “Doing Business 2008” report published on Wednesday September 26th. The bank ranks 178 countries using measures including labour-market flexibility, the complexity of trading across borders and access to credit. One indicator of red tape is how long it takes to open a business. In Congo an entrepeneur would have to wait 155 days and spend five times the annual income per head. Countries that simplify regulations see results. Saudi Arabia reduced the time from 39 days to 15, resulting in an 81% increase in new businesses. Egypt, Georgia and Croatia are among the most enthusiastic reformers.
