Posted on 4th October 2016 by Russell Phillips
New Zealand has been ranked the top country in the world for doing business in the World Bank’s 2017 Doing Business Report – up to one place from last year and up from third in 2014.
The report, which examines regulations that enhance or constrain business activity, assesses 190 countries and ranks them according to the impacts of their regulatory environment on business.
“This is the first time New Zealand has topped this list. For the past two years, we have ranked second after Singapore, and in 2014 we were third behind Singapore and Hong Kong,” Mr. Joyce says.
The report is made up of ten different indicators that affect the life of a business. New Zealand ranks first in half of these including starting a business, dealing with construction permits, registering property, getting credit, and protecting minority investors.
The report also notes:
- New Zealand’s strength in procurement through our online procurement process (GETS)
- New Zealand is world-leading in ease of starting a business with the smallest number of procedures required and the shortest time to start a new business.
- New Zealand has made the process of paying taxes easier and cheaper.
“The report highlights the good work government agencies are doing through our comprehensive Business Growth Agenda to reduce the cost of doing business. There is always room to improve further and the Government will continue to work hard to make it easier to do business in New Zealand,” Mr Joyce says.
Reducing the regulatory burden is all part of creating a competitive and productive economy that provides more and better-paying jobs for New Zealanders and their families.
The full report is available here