For the second year in a row, New Zealand has claimed top spot in the World Bank Doing Business 2018 report for ease of doing business, ahead of 190 other economies.
“This ranking recognises the effectiveness of New Zealand’s business regulators, including the speed and efficiency of the company registration process,” says Business Integrity Services general manager at the Ministry for Business, Innovation and Employment, Ross van der Schyff.
“One of the measures that make up the overall ease of doing business ranking is time and cost of starting a business. New Zealand has been the top ranked country in the world on this measure for the past 10 years.
“We are very proud of this achievement, along with the transparency of our online systems and our work to maintain the integrity of information held on our business registers.
“Being able to register or update company information efficiently on the new Companies Office website as well as easily access government tools and advice at business.govt.nz are areas Business Integrity Services makes a strong contribution towards.”
New Zealand was first announced number one in October 2016 after Singapore had retained the top spot for over a decade.
“Holding the top spot two years in a row is huge, and reflects the great work Business Integrity Services does every day to help build trust and confidence in the New Zealand economy,” says van der Schyff in a media release.
“We are focused on continuing to support the development of New Zealand’s business landscape while sharing our knowledge and expertise with other countries.”
Rankings for the latest report were determined by sorting the aggregate scores across 11 topics, giving equal weight to each topic, with economies benchmarked to June 2017.
The full report is available on the World Bank website.