These countries were listed alongside the most improved economies in 2016/17 in areas tracked by the report. The other six countries include: Brunei Darussalam, Thailand, Kosovo, India, Uzbekistan and El Salvador.
The findings of the study highlight that together the top 10 implemented 53 regulatory reforms creating a more ‘business friendly’ environment.
“Today, in 65 of the 190 economies covered by Doing Business, entrepreneurs can complete at least one business incorporation procedure online, compared with only nine of the 145 economies measured in Doing Business 2004,” the report stated.
Between June 2016 and June 2017, the report documented 264 business reforms. Reforms reducing the complexity and cost of regulatory processes in the area of starting a business and getting credit were the most common in 2016/17.
The next most common reforms were in the area of trading across borders. Read more…
Business regulatory reform
The methodologies used analyses economic outcomes and identifies the reforms of business regulation that have worked.
The findings point out that economies in all regions are implementing reforms easing the process of doing business, noting that Europe and Central Asia continue with the highest share of economies implementing at least one reform— 79% of economies in the region have implemented at least one business regulatory reform, followed by South Asia and sub-Saharan Africa.
The report features four case studies including starting a business, dealing with construction permits, registering property and resolving insolvency, as well as an annex on labour market regulation.
Doing Business 2018 is a World Bank Group flagship publication, and the lasted publication is the 15th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it.
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