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Recognition that New Zealand continues to have the most business-friendly environment in the world is another real example of the strength of our underlying economic and business fundamentals, Finance Minister Grant Robertson said.
New Zealand maintained top spot in the Doing Business 2019 Report released by the World Bank on November 1, 2018.
Mr Roberson issued the following Statement:
Regulations compared
The Report compares regulations affecting businesses in 190 countries, including settings for starting a business, dealing with construction permits, access to credit, trade, and protection of minority investors.
The Report uses quantitative data which is current in 2018, and specifically notes that “The top three economies this year, New Zealand, Singapore and Denmark, exemplify a business friendly environment.”
Improved sub-scores
Within the ten topics used to determine New Zealand’s score, the Report showed improved sub-scores this year for ease of starting a business, dealing with construction permits, getting electricity and registering property.
It is important that our regulatory settings are right.
It is also important for Governments to support businesses to grow.
Engaging with the community
Since coming into office (last year), the Coalition Government has engaged with the business community and announced a number of growth-friendly policies aimed at driving more productive, sustainable and inclusive growth.
Our policies announced to date include the $1 billion tax incentive for businesses engaging in R&D, the $1 billion per year Provincial Growth Fund, the $100 million Green Investment Fund, support for businesses with the costs of taking on apprentices through Mana in Mahi/Strength in Work, and a series of reforms to support small and medium enterprises like e-invoicing.
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Image from World Bank Report
