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Sweden climbs in 'doing business' ranking

Sweden among the easiest place in the world for small and medium sized firms to do businesses. Full list: country-by-country

Sweden among world's least corrupt nations
Sweden 10th ‘most admired country globally’

Singapore remains the easiest place in the world for small and medium sized firms to do businesses but rival Hong Kong gained on it as it came second in a World Bank report released Thursday.

Also Sweden climbed in this year’s ranking, up four steps to number 14. The country has strengthened investor protections and made it easier to start a business. However, during the year it has became slightly harder to get credit.

"Sweden improved the most in the ease of doing business, rising from 18 to 14 in the rankings", the report said. "It reduced the minimum capital requirement for business start-up, streamlined property registration and strengthened investor protections by increasing requirements for corporate disclosure and regulating the approval of transactions between interested parties". 

Starting a Business: Sweden cut the minimum capital requirement for limited liability companies by half, making it easier to start a business.
Registering Property: Sweden made registering property easier by eliminating the requirement to obtain a preemption waiver from the municipality
Protecting Investors: Sweden strengthened investor protections by requiring greater corporate disclosure and regulating the approval of transactions between interested parties.

The annual report sheds light on how easy or difficult it is for local entrepreneurs to open and run their businesses, comparing 183 economies.

Despite Singapore's top spot, the city-state's lead was eroded as Hong Kong made big strides in cutting red tape in the past year, according to "Doing Business 2010", jointly conducted with the International Finance Corporation.

New Zealand, Britain, Denmark, Norway, Ireland, Australia, Canada, and the United States completed top 10.

"Hong Kong's success in offering one of the best business environments globally rests on continuous reforms despite its already established position as a leader," said Geoffrey Walton, business line Leader for the World Bank's East Asia and Pacific business climate unit.

"Hong Kong has made use of online applications to make complying with business regulations easier or implemented one-stop shops for efficient processing of construction permits," he added.

The report noted that the southern Chinese financial hub abolished a tax on diesel fuel and streamlined the legal process for commercial disputes.

But IFC spokesman Hannfried von Hindenburg said highlighting Hong Kong's reform efforts did not take away from Singapore's success.

"Singapore is number one and has been for five years running," he said.

Singapore leads the world in investor protection, ahead of New Zealand and Hong Kong, the report said.

The report's criteria includes dealing with construction permits, registering property, getting credit, paying taxes, trading across borders and closing a business.

China was ranked 79th, although it, along with Vietnam and East Timor were the three most improved countries over the past five years.

Chad was bottom of the list, with the Central African Republic second bottom and Burundi third last.

Sub-Saharan Africa and South Asia remained the most difficult places to conduct business, although three African countries were among this year's top 10 most improved nations -- Rwanda, Cape Verde and Zambia.
 

Singapore1
Hong Kong SAR, China2
New Zealand3
United Kingdom4
United States5
Denmark6
Canada7
Norway8
Ireland9
Australia10
Saudi Arabia11
Georgia12
Finland13
Sweden14
Iceland15
Korea, Rep.16
Estonia17
Japan18
Thailand19
Mauritius20
Malaysia21
Germany22
Lithuania23
Latvia24
Belgium25
France26
Switzerland27
Bahrain28
Israel29
Netherlands30
Portugal31
Austria32
Taiwan, China33
South Africa34
Mexico
Subnational Data
35
Peru36
Cyprus37
Macedonia, FYR38
Colombia
Subnational Data
39
United Arab Emirates40
Slovak Republic41
Slovenia42
Chile43
Kyrgyz Republic44
Luxembourg45
Hungary46
Puerto Rico47
Armenia48
Spain49
Qatar50
Bulgaria51
Botswana52
St. Lucia53
Azerbaijan54
Tunisia55
Romania56
Oman57
Rwanda58
Kazakhstan59
Vanuatu60
Samoa61
Fiji62
Czech Republic63
Antigua and Barbuda64
Turkey65
Montenegro66
Ghana67
Belarus68
Namibia69
Poland70
Tonga71
Panama72
Mongolia73
Kuwait74
St. Vincent and the Grenadines75
Zambia76
Bahamas, the77
Vietnam78
China
Subnational Data
79
Italy80
Jamaica81
Albania82
Pakistan
Subnational Data
83
Croatia84
Maldives85
El Salvador86
St. Kitts and Nevis87
Dominica88
Serbia89
Moldova90
Dominican Republic91
Grenada92
Kiribati93
Egypt, Arab Rep.
Subnational Data
94
Seychelles95
Solomon Islands96
Trinidad and Tobago97
Kenya
Subnational Data
98
Belize99
Guyana100
Guatemala101
Sri Lanka102
Papua New Guinea103
Ethiopia104
Yemen, Rep.105
Paraguay106
Bangladesh107
Marshall Islands108
Greece109
Bosnia and Herzegovina110
Jordan111
Brunei Darussalam112
Lebanon113
Morocco
Subnational Data
114
Argentina115
Nepal116
Nicaragua117
Swaziland118
Kosovo119
Palau120
Indonesia
Subnational Data
121
Uganda122
Russian Federation123
Uruguay124
Costa Rica125
Mozambique126
Brazil127
Tanzania128
Iran, Islamic Rep.129
Ecuador130
Honduras131
Cape Verde132
Malawi133
India
Subnational Data
134
West Bank and Gaza135
Algeria136
Nigeria
Subnational Data
137
Lesotho138
Tajikistan139
Madagascar140
Micronesia, Fed. Sts.141
Bhutan142
Sierra Leone143
Syrian Arab Republic144
Ukraine145
Gambia, the146
Cambodia147
Philippines
Subnational Data
148
Bolivia149
Uzbekistan150
Burkina Faso151
Senegal152
Mali153
Sudan154
Liberia155
Gabon156
Zimbabwe157
Djibouti158
Comoros159
Togo160
Suriname161
Haiti162
Angola163
Equatorial Guinea164
Mauritania165
Iraq166
Afghanistan167
Cameroon168
Côte d'Ivoire169
Benin170
Lao PDR171
Venezuela, R.B.172
Niger173
Timor-Leste174
Congo, Dem. Rep.175
Guinea-Bissau176
Congo, Rep.177
São Tomé and Principe178
Guinea179
Eritrea180
Burundi181
Central African Republic182
Chad183

 

Last Updated (Thursday, 04 November 2010 11:34)

 

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