01 December 2004

The World Bank considers New Zealand to be the best country in terms of an enabling environment for business and investment.

In its publication Doing Business in 2005: Removing Obstacles to Growth, the World Bank presents the findings of research that systematically ranks 145 countries across a range of key indicators of the business environment / investment climate.

New Zealand heads a top ten list that includes (in order) the United States, Singapore, Hong Kong, Australia, Norway, United Kingdom, Canada, Sweden and Japan.

Finance Minister Michael Cullen welcomed the World Bank survey, saying this is international evidence that the Government is committed to a supportive business environment with a flexible and resilient economy.

The seven key indicators the survey measured are: starting a business, protecting investors, enforcing contracts, getting credit, hiring and firing workers, closing a business, and registering property.

The World Bank report follows the recent release of the Business NZ/KPMG Compliance Cost Study, which showed an average reduction in compliance costs of 17 per cent for businesses since 2003.

A summary of the World Bank's survey of the New Zealand economy is available at: rru.worldbank.org/doingbusiness/ExploreEconomies/BusinessClimateSnapshot.aspx?economyid=140