While Singapore, New Zealand, Hong Kong, Denmark and South Korea are again the top five countries in the world to do business, developing countries are catching up.
Eighty percent of the countries the World Bank studied for its annual Doing Business report — with all income groups represented — showed improvements in their business regulations last year, but only a third moved up in their rankings.
“As you move up the ranks, it becomes increasingly difficult to make improvements,” said Augusto Lopez-Claros, director of global indicators and analysis at the World Bank, noting the importance of strengthening other areas, such as education, in improving the business environment.
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About the author
Anna Patricia Valerio
Anna Patricia Valerio is a former Manila-based development analyst who focused on writing innovative, in-the-know content for senior executives in the international development community. Before joining Devex, Patricia wrote and edited business, technology and health stories for BusinessWorld, a Manila-based business newspaper.
