October 28, 2008 – Penelope Brook, Director, Indicators and Analysis in the World Bank Group’s Financial and Private Sector Presidency, did two separate briefings at the American Chamber of Commerce and the Institute of Policy Studies in Singapore to highlight and discuss the findings of the newly launched Doing Business 2009 report.

In her presentation, Ms. Brook highlighted that Singapore kept its top ranking for the third straight year as the easiest place to do business in the world. Around the globe, a record 239 reforms were introduced in 113 economies in the last year. But it was two important reforms—shortening the time periods needed to start a business and to obtain a construction permit—that kept Singapore narrowly above New Zealand. Making full use of the Internet was the key to Singapore’s success. For example, an online one-stop shop helped slash the time it takes to issue a construction permit from 102 days to just 38 days. 

Singapore also simplified the online process for business start-up, cutting a procedure and reducing the time required by a day. It now takes only four days and $365 to start up a business in Singapore. Ms. Brook emphasized that Singapore, in spite of its good ratings, could still do more to simplify business procedures.

Doing Business 2009 presents quantitative indicators on business regulations and their enforcement compared across 181 economies—from Afghanistan to Zimbabwe—and over time. Top reformers are identified and best practices in how to reform are highlighted. This year’s report updates indicators developed in the five preceding reports and covers 3 additional economies: Bahrain, Qatar and The Bahamas.

Published annually, Doing Business reports investigate global regulations that enhance business activity and those that constrain it, ranking countries on their “ease of doing business.” Cosponsored by IFC and the World Bank, Doing Business reports give policymakers the ability to measure business regulatory performance in comparison to other economies, learn from global best practices, and prioritize reforms. The indicators are used to analyze economic outcomes and identify what reforms have worked, where, and why.

You can read Ms. Brook's presentationhere (636kb pdf)

About Penelope Brook

Penelope J. Brook is Director, Indicators and Analysis in the World Bank Group’s Financial and Private Sector Vice Presidency.  Her department is responsible for business environment diagnostics, notably the Doing Business project and the Enterprise Surveys, and related analytical work.  Ms. Brook joined the World Bank in1993, focusing on private sector development and infrastructure sector reform, with a particular focus on the pro-poor aspects of reform processes and sector policies, and the development of output-based aid models.  Prior to joining the Bank, Ms. Brook was engaged in the reform process in New Zealand, working in both the public and the private sectors on issues ranging from financial and labor market reform to the settlement of indigenous land and resource claims.  She holds a DPhil in economics from Oxford University.

Please visit the Doing Business website to access the full report www.doingbusiness.org