Daily Management Review

World Bank Terms New Zealand As The ‘Easiest Country’ For Conducting Businesses


10/26/2016


Annual update on the list of World Bank observes new movements in their positions.



Pushing out Singapore off the list, New Zealand occupies the place of the country wherein it is “easiest” to do business as per the “World Bank's latest rankings”. Moreover, many “emerging market countries” also showed an improvement in their performance by executing “business-friendly reforms”.
 
In World Bank’s annual report called “Doing Business”, the bank reported that reductions in the taxes related to labour fields in combination with “new regulations” have made it easier to pay taxes in New Zealand, whereby pushing the country to the top of the list.
 
On the other hand, Macedonia’s name appeared in the top ten and Brunei brought in the “biggest improvement” of moving from the 84th position to the 72nd in one shot. The said jump has been the result of Brunei making “electricity supply more reliable”, passing “a new insolvency law” and increasing “protections for minority investors” over the past year.
 
According to the reports of World Bank, hundred and ninety countries have made “regulatory changes” for business “throughout their life cycle”, including “the ease of business start-up regulations and getting credit to property rights”.
 
The better performance in the rankings is a general indication towards “lower levels of income inequality and reduced poverty”, while the Chief Economist at World Bank, Paul Romer, stated:
“Simple rules that are easy to follow are a sign that a government treats its citizens with respect. They yield direct economic benefits - more entrepreneurship, more market opportunities for women, more adherence to the rule of law.”
 
There has been movement among the top ten names, while Denmark retained the “third place”, Hong Kong moved towards fourth from its fifth position, while “South Korea, and Norway” continued to rise towards the sixth place. However, the “United States, the United Kingdom and Sweden ranked slightly lower”.
 
The bottom of the list features Somalia’s names, implying Somalia being the hardest country to do business”, revealed the “latest survey”.
 
 
 
 
 
 
 
 
References:
http://www.reuters.com/







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