Portuguese American Journal

Portugal among best economies for doing business – World Bank

Portugal ranked 30rd among the world’s best economies for doing business, according to World Bank’s latest ranking released Thursday. Portugal had ranked 30rd on the previous edition of the World Bank reports.

The World Bank annual report “Doing Business” examines the laws that affect companies in 183 economies, between June 2010 and May 2011, classifying them by developing a ‘ranking’.

The World Bank report also highlights the progress made at the level of simplification in obtaining construction permits.

The 2011 World Bank list was led by the Asian countries with Singapore leading the pack, followed by Hong Kong and New Zealand.

The United States ranked in fourth position after Hong Kong, while Denmark, in fifth place, ranked first among the European countries.

Morocco showed the biggest improvement as a place to do business this year by improving 21 places from last year’s survey to 94th on the list. Moldova improved 18 places and Macedonia 12 places.

In West Africa, the island country of São Tome and Principe improved 11 places, while Cape Verde improved 10 spots on the World Bnak pro-business  ranking.

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