LONDON – Singapore remains the best place in the world to do business in the next five years, according to Economist Intelligence Unit – EIU’s business environment rankings (BERs) for the fourth quarter of 2022. Canada and the US are ranked second and third, with western Europe still well represented in the top 20.

The biggest improvements over the past three years, since before the ructions caused by the pandemic and the war in Ukraine, are in the business environments of Greece, Qatar, the US and the UAE. The biggest deteriorations are in Latin America, the lowest-ranking region, as well as in Russia and Ukraine.

Very encouraging to see our efforts to reform the economy being recognized. We believe in turning Greece into a business-friendly country attracting further foreign investment. Though there is more to be done, Greece is on the right path. https://t.co/OeMfoi32a8 pic.twitter.com/DhtpYP7ZRX

— Prime Minister GR (@PrimeministerGR) October 31, 2022

Compared with the fourth quarter of 2019, Greece’s ranking increased by 16 places. This significant improvement reflects its poor starting point, given a long-delayed recovery from the government debt crisis that began in 2009, but also the impact of a pro-business majority government that has undertaken reforms, cut taxes and restored confidence in the country. Meanwhile, the US rose by ten places in the rankings. Its performance in most of our categories—including policy towards private enterprise and competition and the labour market—remains very strong.

Read the full story: https://services.eiu.com/singapore-retains-its-lead-in-business-environment-rankings/