The little nation that could: Singapore leaves big countries biting its dust

Singapore tops the World Bank’s list of countries with the most business-friendly regulations for the record fifth time as companies remain satisfied with the ease of conducting business in the country.

In its Doing Business 2011 report, Singapore achieved top scores in all nine categories used for ranking, which ranged from measures employed to protect investors to investors’ ease in dealing with construction permits.

Even as Singapore has been consistently ranked as a top economy conducive for transacting business, the World Bank has noted improvement in the country’s business regulations, namely:

• Starting a Business: Business start-up was simplified by making it possible to incorporate a company and register for taxes using the same online form.

• Dealing with Construction Permits: Dealing with construction permits was made easier with new workplace safety and health regulations that allow low-risk industries to submit documents online.

• Registering Property: Property registration was eased by improving its computerized system.
   

Hong Kong, at 2nd place, is the only other Asian country on the Top 10 list. The United States' ranking remains unchanged at #5, Spain drops to #49 while Japan moved one notch higher and is now ranked the 18th most business friendly nation in the world.