Vietnam Among Top 10 Moved Improved Economies in World Bank Report

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Nov. 5 – Data published in the 2011 edition of the World Bank’s yearly Doing Business report indicates that the ease of doing business in Vietnam has improved significantly over the past year. The country improved 10 spots up from its place in the 2010 rankings to place 78 out of 183 economies.

The comprehensive report shows that processes such as starting a business, obtaining credit, paying taxes, and dealing with construction permits have shown marked improvement, making setting up and maintaining businesses an easier task than last year.

Vietnam placed one spot ahead of China and trailed behind countries such as the Bahamas, Kuwait, and Mongolia.

The improvements in the various processes ranked by the World Bank helped Vietnam’s advancement in overall rankings; however, the country’s businesses environment still lacks in certain aspects. It lost ground in topics such as the ease of registering property, protecting investors, and trading across borders.

Each topic determines the rankings for the respective country, and there are specific standards and questions within the topic that determine the ranking for the specific topic.

Singapore was at the top of the list, followed by Honk Kong SAR, New Zealand, the United Kingdom, and the United States respectively.