When we analyse international markets for assessment of suitability for market entry, one of our starting points is the Doing Business rankings put together by the World Bank and its offshoot, the International Finance Corporation.
The new rankings for 2011 have been released and highlight the improvement in the ease of doing business in the Asia Pacific region. There are now 8 APAC countries featuring in the top 25 (excluding North and South American regions), including the three highest ranked countries: Singapore (1), Hong Kong (2), New Zealand (3), Australia (10), Republic of Korea (16), Japan (18), Thailand (19) and Malaysia (21).
All too often, we hear about the difficulties faced with doing business overseas, particularly with cultures that vary as significantly as those found in the Asia Pacific regions.
The Doing Business reports analyse business regulations and not local economies. They demonstrate that many Asian and Pacific economies are open for business and are providing more encouragement to those looking to be part of the local, regional and global economies.