The annual World Bank Ease of Doing Business Report shows New Zealand retained first place, with Singapore, Hong Kong, Denmark and South Korea rounding out the top five.
“It’s great to see New Zealand as the best economy in the world to do business. This is another indication that the economy is in good shape,” Grant Robertson says.
“Our top spot is supported by a stable regulatory environment focussed on encouraging more productive, sustainable and inclusive economic activity.”
The report measures the ease of complying with regulations around starting a company, getting construction permits, and contract enforcement. It also measures aspects of running a business like access to credit, getting electricity and trading across borders.
“The Government is making it easier to do business by tackling some of the long-term challenges facing the business community. This work includes:
- Boosting productivity, including through the R&D tax incentive and changes to business tax settings to make it easier to innovate and get start-ups off the ground
- Cutting red tape by reforming the RMA after the previous Government failed to act, and reforming the Building Act to get more houses built
- Increasing transport infrastructure investment across the country, and supporting the construction industry through record hospital and school build programmes
- Fixing our electricity market by levelling the playing field and boosting competition
- Negotiating new trade deals, including with the EU, to open up new markets for our exporters
“The work we’re doing is backing businesses to be more productive, allowing them to increase wages, investment and employment,” Grant Robertson says
The Treasury, New Zealand