According to a new
report, Singapore has the most efficient administrative service in the region,
and provides the most favourable business environment.
For the fourth year running, Singapore has been ranked as
the most competitive economy in Asia, reported TODAYonline, citing the 2016 Asian Competitiveness report.
Hong Kong came in second, followed by South Korea in third
place. Rounding up the top six list – which has remained unchanged for the last
three years – were Taiwan, Australia and New Zealand. Asia’s biggest economy,
China, was listed ninth in each of those three years, including the year
before.
Released at the Boao Forum for Asia Annual Conference in
Hainan, China, the Asian
Competitiveness report was launched in 2009, ranking
37 Asian economies including New Zealand and Australia, but excludes 16 smaller
economies within the region.
“Singapore had the highest score in commercial and
administrative efficiency. Also, for five consecutive years, it has kept the
most efficient administrative service of the region and provided the most
favourable business environment,” the report said.
The China Centre for International Economic Exchanges, which
conducted the survey, listed the city-state third in human capital and
innovation capability as well as infrastructure, fourth in overall economic
strength, and sixth in social development.
Meanwhile, Hong Kong, which was lauded for its efficient,
trustworthy and stable financial market and business system, was ranked behind
Singapore in terms of commercial and administrative efficiency. It also emerged
second for overall economic strength and infrastructure, as well as fourth in
social development, but was placed 10th for human capital and innovation
capability.
Formally inaugurated in 2001, the Boao Forum for Asia is a
non-governmental and non-profit international organisation that seeks to
promote and deepen cooperation, economic exchange and coordination in Asia, and
between Asia and other parts of the world.
Get Live
Trading Signal With Us – www.equityprofit.com
No comments:
Post a Comment