Know these 5 POINTS what is Ease of Doing Business ranking and why it is important

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Posted on 03-02-2021 by Admin


Know these 5 POINTS what is Ease of Doing Business ranking and why it is important

Ease of doing business ranking is very important for all countries. Also, for the development of the country, it is also necessary that there should be a greater amount of foreign investment. However, to achieve this foreign investment, any country has to perform well on many parameters.
 
The Ease of Business Index is released by the World Bank, which means how easy it is to start and run a business in any country. This index is prepared keeping in mind the simplification of business rules and administrative permission in different countries. That is, the country in which the rules for starting a business or enterprise are as easy as the law, it also gets a higher position in the ranking.
 
1. Ease of doing business ranking is very important for all countries. Also, for the development of the country, it is also necessary that there should be a greater amount of foreign investment. However, to achieve this foreign investment, any country has to perform well on many parameters. On the basis of these standards, the World Bank determines the rating of countries in the Ease of Doing Business Index.
 
2. The rules for doing business or setting up a company in a country are as simple as the law, its rank in Ease of Doing Business is equally good. In this, it is decided that which country is in the first place in terms of ease of doing business, and which is at the bottom.
 
3. The 10 parameters on which the rank of countries is determined include - time taken to get electricity connection, implement contract, start business, property registration, solve bankruptcy cases, construction certificate, time taken to take loan , Safeguarding the interests of minority investors, including tax payments and trading across borders (cross-border trade). There is also an 11th scale labor market law . But when deciding the ranking of countries, its value is not added.
 
4. Before investing in a country, multinational companies take decisions keeping in mind the fluctuations in the Ease of Doing Business ranking there. Depending on the circumstances, the time period, cost, process, security of investors, tax payment, structure of tax etc. are also taken into consideration in the construction of the warehouse.
 
5. Start of business, time at the start of new business, studies are done with minimum money and procedure. In addition to all the rules regarding import and export outside the country, there are many such scales, including credit, transparency, on the basis of which the ranking of countries that stand the test of ease of doing business is decided.
 
 
Which country is No 1 in ease of doing business
New Zealand
 
 
 
 

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