Singapore ranked as #1 economy in ease of doing business

Out of the 183 worldwide economies analysed in the Doing Business 2010 Report by World Bank, IFC and Palgrave MacMillan, Singapore is again the champion in ease of doing business (it was #1 in 2009 Report too).

A high ranking on the ease of doing business index means the regulatory environment is conducive to the operation of business. This index averages the economy's percentile rankings on 10 topics, made up of a variety of indicators, with equal weight:

• Starting a business
• Dealing with construction permits
• Employing workers
• Registering property
• Getting credit
• Protecting investors
• Paying taxes
• Trading across borders
• Enforcing contracts
• Closing a business

The top 30 economies are:

• 1. Singapore
• 2. New Zealand
• 3. Hong Kong
• 4. United States
• 5. United Kingdom
• 6. Denmark
• 7. Ireland
• 8. Canada
• 9. Australia
• 10. Norway
• 11. Georgia
• 12. Thailand
• 13. Saudi Arabia
• 14. Iceland
• 15. Japan
• 16. Finland
• 17. Mauritius
• 18. Sweden
• 19. Korea, Rep.
• 20. Bahrain
• 21. Switzerland
• 22. Belgium
• 23. Malaysia
• 24. Estonia
• 25. Germany
• 26. Lithuania
• 27. Latvia
• 28. Austria
• 29. Israel
• 30. Netherlands

Malaysia (ranked 23rd) has top ranking in getting credit and protecting investors, but laggard in starting a business, dealing with construction permits and registering property.

Click here for the complete list of ranking across the 183 economies.

Doing Business 2010 Report by World Bank, IFC and Palgrave MacMillan

The World Bank, IFC and Palgrave MacMillan have co-published their 7th Doing Business annual report for 2010 with the theme "Reforming Through Difficult Times".

This comprehensive 231 pages report presents quantitative indicators on business regulations and the protection of property rights that can be compared across 183 economies.

It measures, in detail, various regulations that affect the 10 stages of the business life-cycle applicable to the respective domestic small and medium-size enterprises, as follow:

• Starting a business
• Dealing with construction permits
• Employing workers
• Registering property
• Getting credit
• Protecting investors
• Paying taxes
• Trading across borders
• Enforcing contracts
• Closing a business

2 types of data are analysed, namely:

• The laws and regulations
• Time and motion indicators that measure the efficiency in achieving a regulatory goal

This report is worth reading as it provides valuable benchmarking and ranking information in business friendliness and reforming competitiveness of the 183 economies.

Don't be surprised to know that the top reformer of the year is a Sub-Saharan African economy, Rwanda.

Click here to download the full report of Doing Business 2010.

Malaysia Government Transformation Programme (GTP) roadmap towards Vision 2020 unveiled

On 28 Jan 2010, the detailed roadmap of Malaysia Government Transformation Programme (GTP) was unveiled.

This GTP roadmap is crucial to catch up the progress to reach Vision 2020 in time, and it is indeed well written. It is better late than none that, after almost 2 decades Vision 2020 launched, and only left with 1 decade to fulfil, finally the government come out with a more solid action plan on how to achieve the vision.

The GTP roadmap details the objectives, outcomes and the initial set of actions in areas identified as National Key Result Areas (NKRAs) and Ministerial Key Result Areas (MKRAs, mentioned in Budget 2010 speech).

The NKRAs cover 6 areas which have been the long time concerns (and frustrations) of the citizens:

• Reducing crime
• Fighting corruption
• Improving student outcomes
• Raising living standards of low-income households
• Improving rural basic infrastructure
• Improving urban public transport

Since his ruling, Najib has come out with a few propagandas and slogans such as 1Malaysia, NKRAa, MKRAs, MKPIs, GTP, etc. It is hope that they put real action in it towards a real transformation and a better future, if not, probably we should elect for an alternative ruling party to bring in the long awaited transformation (perhaps... reformation).

Click here to visit the official website of GTP.

Click here to download the GTP Roadmap documents.