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Ease of doing business: The 3 best & worst in Asia

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THE World Bank recently released its annual Ease of Doing Business list covering the period from June 2 last year to June 1 this year.

The list, which compares business regulations for domestic firms in 190 economies, tracks key indicators for areas such as the ease of starting a business, getting electricity, contract enforcement, taxes and bankruptcy proceedings.

In the list, China was found to be one of this year’s top 10 improvers, advancing more than 30 spots to 46th place in the global rankings, while India became South Asia’s top-ranked economy, advancing 23 spots to 77th place in the global ranking.

Elsewhere, other countries like Taiwan (15th), Malaysia (24th) and Thailand (26th) were also ranked high in the report.

The report said between June 2, 2017, and May 1 this year, 128 governments introduced a record 314 reforms benefitting small and medium business and entrepreneurs, enabling job creation, and stimulating private investment.

“Governments have the enormous task of fostering an environment where entrepreneurs and small and medium enterprises can thrive,” said World Bank........

© Asian Correspondent