Singapore leads in the overall scores and the global rankings for quality or attractiveness of the business environment in 82 countries, according to The Economist Intelligence Unit’s latest Business Environment Rankings (BER).
Hong Kong defends its third place position from the 2009-2013 period while Malaysia rises to 19th position (from 24th), Thailand is 34th (from 38th) whereas China moves down to 50th (from 51th) and the Philippines is 53rd (down from 51th) respectively.
Asia remains to be the best performers compared to Europe, the Americas, Middle East and Africa due to several factors from favorable policy environment (i.e. finance and foreign investment) with competition policies that encompass international best practices to cities competing in becoming international hubs from finance, manufacturing and logistics that drive the improvements of business environment.
But infrastructure remains the weakest point in Asia with only Singapore ranking 7th among the world’s top 10. Hong Kong trails behind at 18th.
Telecoms and air transports continue to be excellent infrastructures in some regions while others require investment to provide distribution network and utilities provision with lower office rents.
All forecasts for the qualitative indicators are based on the Economist Intelligence Unit assessments.