Doing business in the Commonwealth

The World Bank Doing Business 2012 report reveals that, despite a fall in rankings of Commonwealth countries overall, some member states were among the most reformed and improved. Rwanda’s successful business reforms allowed it to move up five places to rank third in Sub-Saharan Africa and 45th overall. India, the Solomon Islands and Trinidad and Tobago increased their position by at least seven places, while Cyprus, Sierra Leone and Sri Lanka are among the most improved countries in 2012, jumping nine places each. Cyprus strengthened investor protections; Sierra Leone enhanced its credit information system, made it easier to enforce contracts and expedited insolvency proceedings as well as reducing the time required for trading across borders; while Sri Lanka strengthened investor protections and lowered corporate taxes. New Zealand, the UK, Canada and Australia remained in the top 20, with Malaysia moving up five places to join them at number 18. Singapore’s performance was stable and held its position at the top of the list as the easiest country in which to do business. Pakistan and the Caribbean countries of St Kitts and Nevis and St Vincent and the Grenadines fell dramatically, with Pakistan dropping out of the top 100 countries to 105th place.


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