Singapore is the best place in the world to do business and Libya the worst, according to a survey of 82 countries by the Economist Intelligence Unit, which has the tiny Asian city-state leading the rankings for a seventh year in a row.
The EIU said Singapore, which has no economic hinterland of its own, had secured the top slot “due to its efficient, open economy that works hard to maintain its competitiveness as a regional hub for global businesses”.
Switzerland came second, while the US was seventh, Hong Kong fourth and Britain 21st. China was placed 50th, while Russia came 64th. The EIU said: “The Bric economies, though attractive because of their size, are hard places to do business.”
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