According to the World Bank's "2010 WorldWay Environment Report," among 183 economies worldwide, the top three economies with the best business environment are Singapore, New Zealand, and Hong Kong. Mainland China ranks 86th, rising 3 places from last year, leading among the "BRICS" countries. Taiwan ranks 46th, rising 15 places from last year. Russia is ranked 118th, Brazil 127th, and India ranks 133rd, coming last among the "BRICS" countries.
This year's evaluation criteria consist of 10 aspects of the investment environment that businesses face, including: starting a business, obtaining building permits, hiring employees, property registration, obtaining credit, investor protection, paying taxes, cross-border trade, enforcing contracts, and closing a business.
This year's evaluation did not include labor skills, crime rates, or government economic policies.
Many international companies and investors place great importance on the World Bank's "WorldWay Environment Report," primarily using it as a reference for establishing overseas subsidiaries.
The report, compiled by the International Finance Corporation (IFC) under the World Bank Group, indicates that India's overall business environment ranking has dropped from 132nd last year to 133rd this year, due to difficulties in starting a business, obtaining building permits, securing credit, protecting investors, and enforcing contracts in India.
The report states that especially in obtaining land for factories or building permits, India ranks last in the world. Additionally, electricity costs in India are quite high.
