World Bank ranks Germany as 25th best place to do business
The Local · 10 Sep 2008, 17:43
Published: 10 Sep 2008 17:43 GMT+02:00
The study compares how attractive countries are based on their willingness to reform business regulations, as well as things like bureaucratic hang-ups, attitudes toward free trade, flexibility of the job market and taxes.
But the the world's third largest economy only took 25th place - behind Georgia (15th) and Mauritius (24) – because these other countries are more willing to make necessary reforms to the economy. The study said that there are more difficulties to setting up a company in Germany than practically any other industrial country.
Germany did excel in reforms to laws that suspend enforcement against assets while a company restructures, and it also reduced corporate income taxes from 25 percent to 15 percent, the study acknowledged.
The study included 181 countries. The top three countries of where to do business were Singapore, New Zealand, and the United States.