Regulation reform for 131 economies

Regulation reform for 131 economies article image
A World Bank report has shown that in light of the recession, a record of 131 economies have reformed business regulations in the fiscal year ending in May. Doing Business 2010: Reforming through Difficult Times examined 183 economies and analysed regulations that apply to businesses. The reports noted a 20 percent rise from the previous year with 287 reforms between June 2008 and May 2009. Singapore ranked top of the list for ease of doing business for the fourth successive year, followed by New Zealand. The 131 countries that had undertaken reforms represented more than 70 percent of those studied, the largest share  since the report was first published in 2004. According to the report, two-thirds of the reforms were in low and lower-middle-income economies including Rwanda and Columbia. Penelope Brook, acting vice president for financial and private sector development for the World Bank, said,"Business regulation can affect how well small and mid-size firms cope with the crisis and seize opportunities when recovery begins."


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