World Bank Doing Business 2012 Report: Top Rankers

Singapore remained the world’s easiest place to do business for the sixth straight year in the World Bank’s “Doing Business” report, while Morocco showed the most improvement in pro-business reforms.

The top 10 countries are Singapore, Hong Kong (China), New Zealand, United States, Denmark, Norway, Britain, South Korea, Iceland and Ireland.

The title of the report is “Doing Business 2012: Doing Business in a More Transparent World“. The report evaluated rules touching domestic firms in 183 National Economies and graded the economies in 10 areas of business regulation viz. opening a business, settling insolvency, trading across borders. The report says that Singapore and Hong Kong SAR, China, provide the friendliest regulatory environments for local entrepreneurs.

India ranked low in general in the Doing Business assessment

India’s rank improved slightly from 139 in 2011 to 132 in 2012 reports. After India demolished a stern licensing system commanding business admission and production, profits were better in states that had more elastic labour rules. The report observed that the continual abolition of the License Raj led to a 6% rise in fresh firm registrations in India, and lead in exceedingly prolific business firms getting into the market.

Month: Current Affairs - December, 2011