Poor old Andrew Little. He’s going to find it hard to get angry over this news.
New Zealand edged out Singapore as the easiest country for doing business in the World Bank’s latest rankings, while several emerging market countries improved the most by pursuing business-friendly reforms.
In its annual “Doing Business” report, the World Bank cited reductions in labor-related taxes and new regulations that make paying taxes easier as key reasons for moving New Zealand to the top spot from its previous runner-up position.
Macedonia broke into the coveted top 10, while Brunei had the biggest improvement, moving to 72nd from a rank of 84th last year as it made electricity supply more reliable, passed a new insolvency law and increased protections for minority investors.
The World Bank report tracks regulatory changes in 190 countries for businesses throughout their life cycle – from the ease of business start-up regulations and getting credit to property rights.
It said a record 137 economies made reforms to make it easier to start and operate businesses in the last year, with more than 75 percent of the changes occurring in developing countries.