Singapore best place to do business for 7th year

[jubilee1919]

Singapore best place to do business for 7th year!

AsiaOne
Tuesday, Oct 23, 2012

SINGAPORE - Singapore is the best country to do business in the world, a World Bank report has stated.

This is the seventh year Singapore has taken top spot on the Doing Business report compiled by the World Bank and the International Finance Corporation (IFC).

The other economies with the top 10 most business-friendly regulations were Hong Kong; New Zealand; US; Denmark; Norway; the United Kingdom; the Republic of Korea; Georgia; and Australia.

Although Singapore came out tops, the Republic did not score top points across all 10 regulatory areas measured.

The top three rankings for Singapore were in trading across borders; dealing with construction permits; and protecting investors.

On the contrary, Singapore scored a low average rating of 20 for registering property; getting credit; and enforcing contracts.

In addition, the ease of doing business in developing countries is at a 10-year high, owing to reforms implemented across the world in this time.

Doing Business 2013 is the 10th edition of the report, which was first published in 2003.

The report uses 11 indicator sets to measure business regulation in 185 economies.

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http://www.asiaone.com/A1Business/General%2BNews/Story/A1Story20121023-379332.html

 

[jubilee1919]

Singapore ranks 4th worldwide in Forbes’ best countries for business

Sorry that was an October 2012 report. This is the latest.

Singapore ranks 4th worldwide in Forbes’ best countries for business
By Jacky Yap | Nov 16, 2012 | Asia

In a recent Forbes report, Hong Kong has been ranked Asia’s best country for doing business, followed by Singapore and Taiwan.

Forbes is one of today’s leading financial media companies, and is a trusted resource for the world’s business and investment leaders. The company recently published its own curated list of the best countries for business. Topping the list is New Zealand, followed by Denmark, Hong Kong, Singapore and Canada.

On why Singapore ranked fourth, Forbes wrote:

Singapore comes in at No. 4, ranking in the top 20 in all but one of the 11 metrics we measured. The only thing keeping Singapore from the top spot is a low score on personal freedom, as measured by watchdog organization Freedom House. Singapore’s economy depends heavily on exports, particularly in consumer electronics and IT products. Its trade surplus was 24% of GDP in 2011. The $240 billion economy grew 4.9% last year.

Looking at the breakdown of the individual scores, Singapore ranked number 1 in Trade Freedom, 8th in Monetary Freedom, 3rd in Property Rights, 11th in Innovation, 5th in Technology, 4th in Red Tape, 2nd in Investor Protection, 5th in Corruption, 5th in Tax Burden, 16th in Market Performance, and finally, a disappointing 94th in Personal Freedom.

Taiwan’s performance was the third best in Asia, following Hong Kong and Singapore.

http://e27.sg/2012/11/16/singapore-ranks-4th-worldwidein-forbes-best-countries-for-business/