Best Business Countries
Web Series, Politics
Asia remains on top of the charts when it comes to doing business.
Singapore and Hong Kong are worldwide the easiest places to do business in, according to the IFC and World Bank's Doing Business report 2012. South Korea, for the first time, has moved into the top ten list of the easiest business places. In part, thanks to a broad push towards putting public services online.
China and India are on top of the class when it comes to cutting red tape and improving regulations over the last six years.
SOUNDBITE (English) Augusto Lopez-Claros, Director Global Indicators and Analysis, World Bank Group:
"In previous years we found countries focusing on reforms that were easier to do, this year we see there is a greater emphasis on some of the more complex reforms that involve improving the quality of institutions. For instance in the way the court operates, the kinds of legal protections that are afforded to investors, the framework for property rights."
For the first time the report includes a global ranking on how fast a business can get an electricity connection: apart from Iceland and Germany it is Taiwan, Hong Kong and Singapore performing the best.
Although bureaucracy remains a hurdle for many entrepreneurs around the world, there are positive trends to be found : 78 percent of all the countries in Sub Saharan Africa have implemented one or more reforms which is a substantial improvement for the region.
Increasingly time-consuming paperwork is replaced by electronic filing procedures. And the report has discovered that more than 100 economies around the world are now using electronic filing for for services such as business registration, customs clearance or court filings. And putting filing requirements online has an additional side effect.
SOUNDBITE (English) Augusto Lopez-Claros, Director Global Indicators and Analysis, World Bank Group
"What we have discovered is that if you split the countries in two groups, those where information is easily accessible and those where information is not so easily accessible, it turns out that the costs associated with fulfilling the regulations are much much higher in those countries where information is not easily accessible."
Less bureaucracy and lower fees benefit most of all small businesses. In times of crisis this is ever more important, because small businesses are in many countries the backbone of the economy.
Year of Production: 2011
Length: 2:30 mins
Country: United Nations
- Muhamed Sacirbey (UNTV-World Bank)
- Susan Sacirbey (UNTV-World Bank)