08 Nov
World Bank Doing Business 2020

Doing Business 2020 report (World Bank): The top 10 best places in the world to do business

Doing Business 2020 report (World Bank): The top 10 best places in the world to do business, according to the study, are New Zealand (with a score of 86.8 out of 100), Singapore (86.2), Hong Kong SAR, China (85.3), Denmark (85.3), the Republic of Korea (84), the United States (84), Georgia (83.7), the United Kingdom (83.5), Norway (82.6), and Sweden (82).

Economies that score highest on the ease of doing business ranking share several common features, including the widespread use of electronic systems. The top 20 economies have online business incorporation processes, electronic tax-filing platforms, and allow online procedures related to property transfers. Moreover, 11 economies have electronic procedures for construction permitting.

In general, the 20 top performers have sound business regulation with a high degree of transparency.

Most improved places to do business

Doing Business also looks at which economies improved the most. Doing Business 2020 found that the 10 economies that improved the most in their ease of doing business score were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria.

In Saudi Arabia, authorities established a one-stop shop for company incorporation and eliminated the requirement for married women to provide additional documentation when applying for a national identity card. The country also streamlined and merged pre- and post-registration processes.

Doing Business 2020 measures regulations across 190 economies in 12 business regulatory areas to assess the business environment in each economy. Ten of these indicators were used to estimate an ease of doing business score this year, over the 12 months ending April 30, 2019.

This is the 17th edition of a study that has motivated governments worldwide to undertake business reforms with the goal of bolstering sustainable economic growth.

The study looks at rules affecting a business from inception through operation to wind-down: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

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