World’s best and worst places for business

WASHINGTON, USA – The World Bank’s annual “Doing Business” report, released Monday, October 29, ranked 189 countries on how easy or difficult it is to start and operate a local business.

The 10 best places to run a business:

1. Singapore
2. Hong Kong
3. New Zealand
4. United States
5. Denmark
6. Malaysia
7. South Korea
8. Georgia
9. Norway
10. United Kingdom 
11. Australia
12. Finland
13. Iceland
14. Sweden
15.Ireland
16. Taiwan
17. Lithuania
18. Thailand 
19. Canada 
20. Mauritius
 

The 5 worst:

185. Republic of the Congo
186. South Sudan
187. Libya
188. Central African Republic
189. Chad

The Philippines was among the 10 that showed the most improvements. It jumped 30 places to rank 108th from the previous 138th. (READ: Philippines among world’s most improved in ‘doing business’ survey)

Here are the 10 countries that showed the most improvements:

1. Ukraine (112)
2. Rwanda (32)
3. Russian Federation (92)
4. Philippines (108)
5. Kosovo (86)
6. Djibouti (160)
7. Cote d’ Ivoire (167)
8. Burundi (140)
9. Macedonia (25)
10. Guatemala (79)

China, which was furious to receive a ranking of 91 last year and has pressured the World Bank to drop the 11-year-old study, fell 5 notches this year to 96th place and was leapfrogged by Russia. (READ: World Bank: Singapore, HK best for business)

The “Doing Business 2014” report said many countries are making it easier for people to start and run a local business, with low-income economies moving more quickly than larger ones to improve. – Rappler.com