The World Bank ranks almost 200 countries in terms of their ease of doing business (EoDB) to underscore the importance of a thriving private sector in promoting high and inclusive growth. Its Doing Business Report uses several criteria in scoring and ranking EoDB: starting a business, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. In the 2015 Report, which is discussed in this Policy Note, Singapore is once again on top, a place that it has maintained since 2007, followed by New Zealand and Hong Kong, both APEC economies. The Philippines registered moderate to impressive gain in its ranking, from 108th to 95th. There is obviously a wide variation in the performance of the APEC member-economies. As the ASEAN Economic Community progresses, and as the Philippines takes a crucial role in this year`s APEC 2015 Summit, comparing the EoDB metrics of the ASEAN countries becomes highly important. With their diverse economic conditions, APEC member-economies that are performing well in EoDB can share their expertise with the ASEAN and other developing country members. Better-performing economies can support lower-ranked ones through the sharing of best practices.
Performance of APEC Economies in Ease of Doing Business
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