Thailand and Vietnam jump in business-friendliness ranking

The 2016 annual World Bank Ease of Doing Business Ranking report ranks 190 economies in 11 categories, including the ease of starting a business, and the ease and cost of getting connected to the electrical grid and registering property. New Zealand came in first, followed by Singapore, Denmark, South Korea and Hong Kong.

Thailand jumped 20 spots to 26th. Japan held steady in 34th place. The World Bank noted that Thailand "made starting a business easier by abolishing the requirement to obtain a company's seal," and "strengthened access to credit by adopting new legislation that broadens the scope of assets that can be used as collateral."

Vietnam moved up from 82nd to 68th, higher than China's 78th place. Vietnam "made exporting and importing easier by upgrading the automated cargo clearance system and extending the operating hours of the customs department".

Hong Kong fell one spot as it "made starting a business more expensive by reintroducing the business registration fee". Singapore "made exporting and importing easier by improving infrastructure and electronic equipment at the port".

(Nikki Asian Review)