Singapore remains best in business
For the seventh year running, Singapore has been ranked the easiest place to do business in the world, according to the Doing Business 2013 report by the World Bank released on October 23.
In the top 10 with the most business-friendly regulations were Hong Kong, New Zealand, US, Denmark, Norway, UK, South Korea, Georgia and Australia.
Of ASEAN countries, Malaysia ranked 12th in the report, Thailand 18th, Brunei 79th, Vietnam 99th, Indonesia 128th, Cambodia 133rd, the Philippines 138th and Laos 163rd. Myanmar is not in the survey.
With regards to the Philippines, the report’s result is quite discouraging for investors. For local entrepreneurs, doing business in the Philippines remains a long, slow and complicated process. The Philippines ranked 138 out of 185 countries in the Doing Business 2013 report, slipping 2 notches from 136 in the previous year.
Starting a business in the Philippines is one of the most complicated in the world, ranking 161 out of 185. While it takes 16 procedures for an entrepreneur to start a business in Manila, in Canada and New Zealand it only takes one day. The only countries that have more procedures than the Philippines are Equatorial Guinea with 18 and Venezuela with 17.
Malaysia jumped from 18th to 12th in the 2013 report. The ranking places Malaysia ahead of economies like Sweden (13th), Taiwan (16th), Germany (20th), Japan (24th) and Switzerland (28th). The country’s government now aims to achieve a top 10 position, Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said at a press conference on October 24th.
Thailand’s ranking has slipped another notch this year from 17th in the 2012 rankings and 16th in the 2011 report, mainly due to a worse rating in the “Starting a Business” category.
Vietnam dropped one place to 99th, while Brunei moved up three places to 79th.
Indonesia moved up two notches to be ranked 128th.
The Doing Business reports evaluate regulations that affect 11 areas in business: starting a business, dealing with construction permits, accessing electricity, registering property, obtaining credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers.
[caption id="attachment_4893" align="alignleft" width="205"] Starting up a business in the Philippines remains a slow, complicated process[/caption] For the seventh year running, Singapore has been ranked the easiest place to do business in the world, according to the Doing Business 2013 report by the World Bank released on October 23. In the top 10 with the most business-friendly regulations were Hong Kong, New Zealand, US, Denmark, Norway, UK, South Korea, Georgia and Australia. Of ASEAN countries, Malaysia ranked 12th in the report, Thailand 18th, Brunei 79th, Vietnam 99th, Indonesia 128th, Cambodia 133rd, the Philippines 138th and Laos 163rd. Myanmar is not...
For the seventh year running, Singapore has been ranked the easiest place to do business in the world, according to the Doing Business 2013 report by the World Bank released on October 23.
In the top 10 with the most business-friendly regulations were Hong Kong, New Zealand, US, Denmark, Norway, UK, South Korea, Georgia and Australia.
Of ASEAN countries, Malaysia ranked 12th in the report, Thailand 18th, Brunei 79th, Vietnam 99th, Indonesia 128th, Cambodia 133rd, the Philippines 138th and Laos 163rd. Myanmar is not in the survey.
With regards to the Philippines, the report’s result is quite discouraging for investors. For local entrepreneurs, doing business in the Philippines remains a long, slow and complicated process. The Philippines ranked 138 out of 185 countries in the Doing Business 2013 report, slipping 2 notches from 136 in the previous year.
Starting a business in the Philippines is one of the most complicated in the world, ranking 161 out of 185. While it takes 16 procedures for an entrepreneur to start a business in Manila, in Canada and New Zealand it only takes one day. The only countries that have more procedures than the Philippines are Equatorial Guinea with 18 and Venezuela with 17.
Malaysia jumped from 18th to 12th in the 2013 report. The ranking places Malaysia ahead of economies like Sweden (13th), Taiwan (16th), Germany (20th), Japan (24th) and Switzerland (28th). The country’s government now aims to achieve a top 10 position, Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said at a press conference on October 24th.
Thailand’s ranking has slipped another notch this year from 17th in the 2012 rankings and 16th in the 2011 report, mainly due to a worse rating in the “Starting a Business” category.
Vietnam dropped one place to 99th, while Brunei moved up three places to 79th.
Indonesia moved up two notches to be ranked 128th.
The Doing Business reports evaluate regulations that affect 11 areas in business: starting a business, dealing with construction permits, accessing electricity, registering property, obtaining credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers.
