Brunei Down on Ease of Doing Business
Fitri Shahminan BANDAR SERI BEGAWAN, Thursday, October 30, 2014 - BRUNEI is now placed at 101 in the latest World Bank’s Ease of Doing Business Report 2015, which lists a total of 189 economies. This is 42 notches lower than its 59th ranking in the previous year. The Sultanate ranked lower in terms of registering property, getting credit and resolving bankruptcy. The Washington-based lender said entrepreneurs will need 101 days and go through 15 procedures to set up a new business in the Sultanate. On the other hand, entrepreneurs in Singapore - which is one of the easiest places to run a business according to the World Bank report - only need 2.5 days to open a business, 31 days to get electricity and four days and $440 to import a container. Businessmen also need 298 days and go through seven procedures to register a property in Brunei. In comparison, entrepreneurs who dobusiness in other countries in East Asia and Pacific region will only need 78 days and go through five procedur