Pakistan 8 places down in doing business

LONDON: Pakistan has dropped 8 places in the list of best countries for doing business, said 2011 Doing Business survey carried out by the World Bank and the International Finance Corporation (IFC).

According the report, Pakistan slipped from 75th in 2010 to 83rd in 2011, dropping 8 slots.

The survey “Doing Business 2011 – Making a Difference for Entrepreneurs” listed Singapore as the best country in the world for business, and Chad the worst.

The survey, which ranked 183 countries, points to Portugal (31st place) as being the best Portuguese-speaking country for business, followed by Mozambique (126th), Brazil (127th, Cape Verde (132nd), Angola (163rd), East Timor (174th), Guinea Bissau (176th) and Sao Tome and Principe (178th).

Against the previous year, when it was placed 130th, Mozambique rose four places in the ranking. Brazil this year fell three places and was thus overtaken by Mozambique.

This is the eighth Doing Business report that has been published each year by the World Bank and the IFC. According to their authors, the reports have led to improved business climates in many of the countries surveyed, as they encourage the introduction of economic reforms.