Singapore is still the best place in the world to start and run a business, taking top place in the World Bank Doing Business Report for the fifth year in a row. Hong Kong came in second, though the booming People’s Republic of China itself managed only 79th place.

183 jurisdictions are ranked on nine criteria: ease of starting a business, access to credit, closing a business, paying taxes, cross-border trading, registering property, obtaining construction permits, enforcing contracts and protecting investors. The report does not consider other criteria which may affect operations, such as security, skills and infrastructure.

Singapore was ‘simply the most efficient place from which to import and export’, according to the report’s co-author. The only other top 10 ranked countries in the Asian region were New Zealand (#3) and Australia (#10) while in ASEAN, Malaysia ranked #21 (up two places); Thailand #19 (down three); Indonesia #121 (down six); Philippines #148 (down 2) and Vietnam #78 (up 10). Ease of doing business is vital for promoting entrepreneurial activity, a major beneficial factor in developing economies.

source & article: BBC News

Full World Bank Doing Business Report 2011 (PDF link)