Palau Ranked 113 In Ease Of Doing Business

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Country drops 3 places in World Bank report

By Jose Rodriguez T. Senase

KOROR, Palau (Island Times, June 2, 2015) – After an improvement recorded last year, Palau’s ease of doing business ranking fell by three places.

The World Bank 2015 "Ease of Doing Business" report put Palau in the 113th place among 189 countries included in the report. In 2014, Palau was ranked 110th.

Economies are ranked on their ease of doing business, from 1–189. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

The rankings are determined by sorting the aggregate distance to frontier scores on 10 topics (Starting a Business, Dealing With Construction Permits), Getting Electricity, Getting Credit, Protecting Minority Investors, Paying Taxes, Registering Property, Trading Across Borders, Enforcing Contracts, and Resolving Insolvency), each consisting of several indicators, giving equal weight to each topic. The rankings for all economies are benchmarked to June 2014.

In Starting a Business, Palau’s ranking fell by seven points from 104th in 2014 to 11th in 2015. In Dealing With Construction Permits, Palau’s ranking also fell down by one point from 65th in 2014 to 66th in 2015.

In Getting Electricity, Palau’s ranking fell down by 5 points (from 93rd to 98th). The same thing happened in the topics of Getting Credit (67th to 71st); Protecting Minority Investors (182nd to 183rd); and Paying Taxes (124th to 132nd).

The only upside for Palau were in the topics of Registering Property (from 22nd to 21st) and Trading Across Borders (from 106th to 105th).

There were no changes in Palau’s ranking in Enforcing Contracts (127th) and Resolving Insolvency (167th).

Palau’s ranking is way above its neighbors in the Micronesia Region, signifying a more business-friendly environment for the country of more than 20,000 people.

The Federated States of Micronesia is ranked 145th in ease of doing business, while the Republic of the Marshall Islands (RMI) is ranked 139th.

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