Singapore, Hong Kong Ranked Most Business Friendly

Singapore and Hong Kong are the world’s top two economies for ease of doing business, according to World Bank rankings for 2011. S. Korea is the only other Asian economy ranked among the top 10.

Singapore is rated number one in the world for trading across borders. It also received high marks for protecting investors (2nd) , resolving insolvency (2nd) and dealing with construction permits (3rd). It rated less favorably in enforcing contracts (12th) and registering property (14th).

Hong Kong’s overall number 2 ranking resulted from its top marks in dealing with construction permits (1st), trading across borders (2nd), protecting investors (3rd) and paying taxes (3rd). It rated lowest in registering property (57th) and resolving insolvency (16th).

Coming in third place overall was New Zealand. It scored high in starting a business (1st), protecting investors (1st), dealing with construction permits (2nd), registering property (3rd) and getting credit (tied with Hong Kong for 4th). However, it scored poorly in paying taxes (36th), getting electricity (31st) and trading across borders (27th).

The United States ranked 4th overall, scoring well in getting credit (4th), protecting investors (5th) and enforcing contracts (7th). It received low marks for paying taxes (72nd) and only fair marks for trading across borders (20th), getting electricity (17th) and dealing with construction permits (17th).

S. Korea was ranked 8th overall, its first year in the top 10. It received high marks for enforcing contracts (2nd), trading across borders (4th) and getting credit (8th). It ranked poorly in protecting investors (79th) and registering property (71st).

The next highest ranking Asian economies were Thailand (17th overall), Malaysia (18th), Japan (20th) and Taiwan (25th).

China was ranked 91st, rating badly on starting a business (151st) and dealing with construction permits (179th), paying taxes (122nd) and getting electricity (115th). It received the most favorable ratings for enforcing contracts (16th) and registering property (40th).

Vietnam ranked 98th overall and India ranked an abysmal 132nd out of a total of 183 economies.

Chad was at the bottom of the rankings.