New Zealand edged out Singapore as the easiest country for doing business in the World Bank's latest rankings, while several emerging market countries improved the most by pursuing business-friendly reforms.
In its annual "Doing Business" report, the World Bank cited reductions in labor-related taxes and new regulations that make paying taxes easier as key reasons for moving New Zealand to the top spot from its previous runner-up position.
New Zealand tops several aspects — the land of the Kiwis were found to be the best place to get credit, register property, deal with construction permits, having the rights of minority investors protected, and launching a business. Singapore may have scored high marks in the determinants, but the city-state only topped the list in protecting minority investors.