Ease of doing business: Hong Kong number 5 among 190 economies
According to the Doing Business 2018 report, Hong Kong again remains to be in the first 5 spots for ease of doing business. This study was compiled from the input of over 13 000 experts from all over the world. In total 190 different economies were rated.
In this study, the ranking is being determined by the Ease of Doing Business Index which rates countries according to 11 factors. These indicators cover varieties from starting a business to getting electricity. The ranking shows us how difficult or easy it is to start a business or to get electricity in different countries.
In this report, Hong Kong is ranking number five with a score of 83.44 points. The ranking of Hong Kong for each indicator is as follow:
Starting a business (3)
Dealing with construction permits (5)
Getting electricity (4)
Registering property (55)
Getting credit (29)
Protecting minority investors (9)
Trading across borders (31)
Paying taxes (3)
Enforcing contracts (28)
Resolving insolvency (43).
The main reason for being number five is that Hong Kong is great at providing official permissions and permits of registering a business, approving to build a warehouse, having easy access on getting electricity, protecting the interest of minority investors and complying with all tax regulations as well as post-filing processes.
Although Hong Kong placed fifths in the report, Hong Kong still needs to improve itself on the matters like exporting, quality of the land administration, and importing and resolving a commercial dispute and the quality of judicial processes.
In case you want to see the whole report in order to obtain more information, here is the link for downloading it.
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This article was published in the Freelancing.hk-News 60.