SmartPlanet: 10 Best Places to do business…

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By | October 29, 2013

If you’re a small or mid-sized business it will be easiest to do business if you’re based in Asia — places like Singapore, Hong Kong, and Malaysia.

A new report from the World Bank, says that Asia has about half of the top economies in the world for their ease of doing business. The report ranks 189 world economies based on 11 indicators for how easy it is to start a small or mid-sized business, from access to credit and electricity to ease of employing workers to ability to trade across borders.

“A better business climate that enables entrepreneurs to build their businesses and reinvest in their communities is key to local and global economic growth,” said World Bank Group President Jim Yong Kim. “Doing Business shows that economies with better business regulations are more likely to empower local entrepreneurs to create more jobs – another step in the right direction toward ending extreme poverty by 2030.”

Here are the report’s 10 most business-friendly economies in the world:

  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

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Phi Beta Iota:  Singapore is unique for having four official languages — English, Mandarin, Malay, and Tamil.  We anticipate “New Singapore” rising on the Indonesian island southeast of Singapore, once the Chinese and the Muslim nations persuade Indonesia to create the new economic and tourism zone, a crescent around Singapore.  A Chinese naval and aviation base will be included.  Plans to create the canal across the Malay-Thai narrow zone should eventually remove all sea freight from the Malacca Straits.