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business & economy
World Bank endorses city's ease of doing business

Hong Kong is among the top five easiest places in the world to do business, according to a World Bank report..

Hong Kong remains one of the world’s easiest places to do business, according to the World Bank’s 2016 “Doing Business” report.

The ranking reaffirmed Hong Kong’s efforts in business facilitation. The aggregate score for Hong Kong is up from 82.87 last year to 83.67. The World Bank commends Hong Kong for the implementation of various reform measures, namely streamlining the process of starting a business, improving access to credit, reducing the processing time for relevant applications and simplifying tax compliance obligations.

The government will study the report to identify a scope for further improvement, as well as explore ways to improve the business environment and reform the existing regulatory regimes to ensure appropriate regulation.

According to the report, the top five performers are Singapore, New Zealand, Denmark, the Republic of Korea and Hong Kong. The report compares the ease of doing business in 189 economies across 10 indicators.

 


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