Vietnam leads the world with most business reforms: World Bank

By Ngan Anh   November 1, 2017 | 10:58 am GMT+7
Vietnam leads the world with most business reforms: World Bank
The World Bank ranks Vietnam 68th out of 190 economies globally this year in ease of doing business. Photo by Reuters/Kham

Most reforms have been in the fields of power accession, tax, credit accession, international trade and business registration.

Vietnam and Indonesia have implemented the most business reforms in the past 15 years with 39 each, according to the Doing Business report issued by the World Bank on Tuesday.

They are followed by China and Brunei Darussalam with 26 reforms each, said the report.

Vietnam ranks 68th out of 190 economies globally this year, up from 82nd out of 190 countries last year, according to the report.

The country's reforms this year have been focused around power accession, tax, credit accession, international trade and business registration.

Today, an entrepreneur in Ho Chi Minh City spends 22 days and 6.5 percent of income per capita registering a new company, compared to 61 days and 31.9 percent in 2003, said the report.

In the East Asia and Pacific region, the top-ranked economies are Singapore (2), and Hong Kong (5). The region’s lowest ranked economies are Myanmar (171) and Timor-Leste (178).

The World Bank's annual Doing Business report tracks regulatory changes in 190 countries for businesses throughout their life cycle based on a set of 10 indicators, ranging from the ease of business start-up regulations to accessing services such as electricity.