October 20, 2011

Vietnam, Laos, Cambodia; no gains in World Bank doing business rankings

[Lanka Business Online]

Indochina economies of Vietnam, Cambodia and Laos have failed to move forward in the 2012 ease of doing business rankings published by the World Bank and its private sector arm, the International Finance Corporation.

Vietnam slipped to 98 from 90 in a global ranking despite strengthening investor protection by requiring higher standards of accountability from company directors, in the Doing Business 2012: Doing Business in a More Transparent World report.

Cambodia remained at 138, though its central bank strengthened a credit information system.

Laos also remained at last year's level of 138.

Many states are making multiple reforms to allow their citizens to do business more easily and create economic value.

The global report covering 183 economies said 125 economies made 245 regulatory reforms to help make business easier.

Singapore led on the overall ease of doing business, followed by Hong Kong, New Zealand; the United States and Denmark. The Republic of Korea entered the top 10.

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