GENEVA — Of 183 nations studied, 125 implemented reforms between June 2010 and May 2011 to reduce the cost and difficulty of doing business, including major apparel exporters such as India, Turkey and Sri Lanka, a World Bank report said
This story first appeared in the October 21, 2011 issue of WWD. Subscribe Today.
“At a time [of] persistent unemployment and the need for job creation…governments around the world continue to seek ways to improve the regulatory climate for domestic business,” said Augusto Lopez-Claros, World Bank director for global indicators and analysis.
The report, “Doing Business 2012,” shows governments in 125 markets implemented a total of 245 more business-friendly regulatory reforms, up 13 percent compared to the year before.
Exploring 10 areas in which business practices could be simplified or made more economical, such as procedures for starting a business, trading across borders and legal protection of investors, progress was seen in Colombia, which moved up five slots on the global rankings to 42nd; Turkey, up two rankings to 71st; Sri Lanka, up nine places to 89th, and India, seven slots to 132nd. India took a series of steps to ease the payment of taxes, Turkey simplified the regulatory procedures for starting a business and Sri Lanka improved procedures for protection of investors, the report noted.
However, it also revealed that China fell four slots to 91st, Vietnam eight places to 98th, Pakistan nine rankings to 105th and Bangladesh four places to 122nd.
The price for exporting a 20-foot container in China averaged $500; in Vietnam, $580; Sri Lanka, $715; Bangladesh, $965; India, $1095, and Colombia, $2,270. The lowest cost for exporting a container was from Malaysia, at $450. The time to export goods averaged 12 days in Egypt, 14 days in Colombia, 16 days in India, 21 days in China and 22 days in Vietnam.
By comparison, it took only five days to export goods in Singapore, Hong Kong and Denmark and six days in the U.S.
This year, Singapore led the global rankings in the overall ease of doing business, followed by Hong Kong, New Zealand, the U.S. and Denmark, the report said.