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New Zealand has been recognised as having the most business-friendly environement in the world as it maintained top spot in World Bank’s Doing Business 2019 report.
The report compares regulations affecting businesses in 190 countries, including settings for starting a business, dealing with construction permits, access to credit, trade, and protection of minority investors.
It identified New Zealand, Singapore and Denmark as the top three economies this year that exemplify a business-friendly environment.
The recognition is another real example of the strength of our underlying economic and business fundamentals, according to Finance Minister Grant Robertson.
“Within the 10 topics used to determine New Zealand’s score, the report showed improved sub-scores this year for ease of starting a business, dealing with construction permits, getting electricity and registering property,” Robertson explained. “It’s important that our regulatory settings are right.
“It’s also important for governments to support businesses to grow,” he added.
The minister also mentioned policies introduced by the government to date, which include the $1 billion tax incentive for businesses engaging in R&D, the $1 billion per year Provincial Growth Fund, the $100 million Green Investment Fund, support for businesses with the costs of taking on apprentices through Mana in Mahi/Strength in Work, and a series of reforms to support small and medium enterprises like e-invoicing.
