Singapore Immigration Economy: According to a report by Singapore's Lianhe Zaobao on October 29, Singapore has been ranked as the most business-friendly economy in the world for the tenth consecutive year, although the gap with New Zealand, which ranks second, has narrowed further.
The World Bank's recently released "2016 WorldWay-Friendly Report" shows that Singapore has topped the global ranking for ten consecutive years. This is the 13th year the World Bank has conducted this survey, which includes 189 economies and primarily reflects how the regulatory environment of an economy creates a business-friendly environment for small and medium-sized enterprises in areas such as starting a business, paying taxes, registering property, and WorldWay.
Singapore's score has slightly decreased from last year's 88.27 to 87.34, and the score gap with New Zealand, which ranks second, has narrowed from 1.36 to 0.55. The slight decline in score is mainly due to a decrease in performance in areas such as starting a new business, handling bankruptcy, obtaining financing, and registering property.
Among the top ten economies, besides Singapore in first place and New Zealand in second, the following are Germany, South Korea, Hong Kong, the United Kingdom, the United States, Sweden, Norway, and Finland.
Among them, Hong Kong has dropped from third place last year to fifth place, Australia has fallen out of the top ten, and Sweden has risen from 11th to 8th place. Additionally, China has risen six positions to 84th place, and India has climbed 12 places to 130th place.