Wednesday, September 14, 2005

World Bank: Singapore is second easiest place to do business

THE WORLD Bank has released data and tables showing how easy it is to do business in different countries around the world.

Entrepreneurs in Sierra Leone are likely to have a problem because if you pay all the business taxes you ought to, it will consume 164 per cent of your company's gross profit. ...

A league table of countries reveals that New Zealand is the easiest place to do business, followed by Singapore, the US, Canada and Norway. The UK is number nine in the table...

All this, and a heap of very useful information cann be found on the World Bank's Doing Business site.

[Source: The Inquirer, 14/09/2005]

The World Bank's Doing Business link for Singapore is here. I think that it highlights one key areas where Singapore can improve - Singapore needs a public credit rating agency - Singapore has none, and the private ones only cover 39% of Singaporeans.

It might also be nice if the "Difficulty in Firing" index was something other than 0. 0 is the best, but... Comparatively, the score for the region is 23.3 and the score for OECD countries is 27.3.