World bank doing business report

The World Bank said New Zealand had retained its position in its Doing Business report ahead of other countries, despite not implementing any reforms in the last year. The UK slipped to ninth place while Norway climbed to seventh in a year when the World Bank said governments pressed ahead with a record number of reforms to business regulations and tax rules to support private businesses.

World bank doing business report

The Oceanic country may be thousands of miles away from major markets in the West, but global supply chains and new communication technologies are eroding this hindrance. World bank doing business report also scores highly in terms of building regulation transparency, tax payment services and protecting minority investors.

Georgia Rank 9 The only lower-middle-income economy to feature in the top 20, at first glance Georgia appears to be something of an anomaly.

world bank doing business report

With a population of just 3. However, the Georgian Government has made great efforts to enhance private enterprise in the country, implementing 47 business regulation reforms since the Doing Business report began in — more than any other country in the survey. Among the many changes, Georgia has made electricity more affordable and created more accessible insolvency proceedings for debtors and creditors.

The country performs particularly well in the availability of electricity and the efficiency of issuing construction permits. In addition, great strides have been made towards improving credit reporting, with credit bureaus now offering scores to banks and other financial institutions, helping them to more accurately determine the creditworthiness of borrowers.

The adoption of a new secured transactions law has bolstered the rights of creditors and borrowers, while changes to risk assessment and land administration systems boosted efficiency markedly.

world bank doing business report

These reforms, and a host of others, have created a much more welcoming business climate in the country. Not so long ago, starting a company in Thailand took an average of Chile Rank 55 Chile was ranked 34th in the Doing Business report, but has suffered a significant drop in the years since.

New Zealand is best place to do business but UK slips to ninth – report | Business | The Guardian

While the World Bank has been keen to stress that the fall is simply due to other nations improving at a faster rate, some suspect foul play. Fortunately, the government is working hard to climb the ranking. The processes for making tax payments were streamlined inthanks to the introduction of income computation and disclosure standards.

Contract enforcement has also improved due to the adoption of performance measurement reports on a wider scale. One area where India has had great success is protecting minority investors, where enhanced standards of governance have had a significant impact. Starting a business has also become a faster process since the government introduced the electronic stamping of registration documents.

Nigeria is still playing catch-up in other areas, and ranks particularly poorly in terms of electricity access and cross-border trade. Somalia Rank For the second year in a row, Somalia has the unwanted distinction of being named the most challenging place in which to do business. Dire economic conditions, a fragile political climate and the ongoing threat of terrorism make it difficult for Somalia to create much upward momentum.

A mostly dollarised economy and a worrying number of regulatory loopholes have also meant that the informal economy often seems more prominent than the formal one.

Business potential does exist, particularly if diaspora professionals can be enticed back to the country, but the chances of Somalia rising significantly up the Doing Business rankings look slim for now.The ease of doing business index is an index created by Simeon Djankov at the World Bank academic research for the report was done jointly with professors Oliver Hart and Andrei Shleifer.

World Bank releases Doing Business report

Higher rankings (a low numerical value) indicate better, usually simpler, regulations for businesses and stronger protections of property rights.

Doing business (English) Abstract. Doing Business in Italy is a new subnational report of the Doing Business series. It measures business regulations and their enforcement across 4 indicators in 13 Italian cities: Bari (Apulia), Bologna (Emilia-Romagna), Cagliari (Sardinia), Campobasso.

With member countries, the World Bank Group is a unique global partnership fighting poverty worldwide through sustainable solutions. Provides access to data collected through sample surveys of households, business establishments or other facilities. World Development Indicators The primary World Bank collection of development indicators, compiled from .

6 days ago · The Doing Business in South Africa report, the second in the sub-national series on South Africa, analyses business regulations for domestic small and medium enterprises in nine major cities. 6 days ago · A newly released World Bank report has highlighted that not one South African city made progress in the ease of doing business, but .

World Bank doing business report Nigeria records mixed fortunes