Denmark Is Again The Easiest Place To Do Business In Europe
23 Oct 2012
A new analysis by the World Bank ranks Denmark as the easiest place in Europe to do business for the second year in a row. Denmark ranks number five in the world among 185 countries.
Companies looking for a smooth way to set up and run their new business should choose Denmark as their destination.
The World Bank ranks Denmark as the easiest place in Europe to do business in their newly released ‘Doing Business 2013’ index which is the tenth in a series of annual reports benchmarking the regulations that enhance business activities and those that constrain it.
Denmark consistently ranks very high on the World Bank’s Doing Business index that through inputs of a network of more than 9,000 local experts compares business regulation in 185 economies in the world, and this year only Singapore, Hong Kong, New Zealand and the US are ahead of Denmark.
The Danish Minister for Trade and Investment Mrs. Pia Olsen Dyhr, comments: “Today’s ranking of Denmark by the World Bank supports the fact that Denmark has one of the most efficient and dynamic business environments in the world. In the Danish government we continuously focus on improving conditions for foreign companies, and this confirmation of last year’s top ranking tells me that our efforts pay out.”
“Companies can benefit from an easy plug ‘n play registration and be ready to do business within a few hours and just recently we implemented digital land registration. Denmark is a very stable base for foreign companies not least because of our transparent and efficient public government services.”
“Apart from the ease of setting up and running a business, Denmark offers one of the world’s most flexible labour markets thanks to a unique flexicurity system which allows business to quickly reorganize their business and respond to new opportunities or challenges. Not least in today’s fast changing and unpredictable business environment, the businesses located in Denmark are in a very good position to adapt and succeed.”
World Bank report builds on in-depth research
11 areas of business life are covered in the World Bank report on the ease of doing business. The report looks into how easy it is to start a business, deal with constructions permits, paying taxes and employing workers and other elements relevant when establishing or running a business. As part of this study, the World Bank monitors and summarizes which business reforms have been implemented and if these reforms have made it easier or more difficult to do business in the country.
Ease of Doing Business has impact on FDI
This year the report also analyses if there is a connection between the ease of doing business and foreign direct investment. This correlation is often taken for granted by the media and governments, and the analysis shows that having a good business climate indeed has a positive impact also on the investment flows to the country.
The report concludes: “The strong and statistically significant relationship between FDI and the overall level of regulation as measured by Doing Business indicators supports the claim that Doing Business data reflect more about the overall investment climate than what matters only to small and medium-size local firms. These findings also support the more general claim that governments that regulate well in one area, such as domestic business, tend to also regulate well in other areas, such as foreign investment.”
Source: http://www.investindk.com/News-and-events/News/2012/Denmark-is-Again-the-Easiest-Place-to-do-Business-in-Europe
