Brunei's Local News - Brudirect.com

Bandar Seri Begawan - Brunei fell five notches in this year's global ranking on the ease of doing business mainly due to significant declines of its standing in categories such as starting a business, access to credit and taxes.

In overall ranking of the World Bank's Doing Business 2009, Brunei is No 88 down from No 83 in last year's scorecharts. This year's rankings included 181 economies while last year's had 178.

A high ranking on the ease of doing business index means that an economy's regulatory environment is conducive to the operation of business.

On the ease of starting a business, which covers the procedures required to incorporate and register a new firm before it can legally operate, Brunei dropped 11 notches to 130th for the 2009 rankings, while its 2008 ranking was 119th.

Firms consistently rate access to credit amongst

the greatest barriers to their operation and growth. In this category saw Brunei dropped seven places from 102nd to 109th.

Brunei dropped six places to 35th in the global ranking on dealing with taxes, which covers the administrative burden in paying taxes.

The World Bank publication also compiles procedural requirements for trading a standard shipment of goods by ocean transport. In the category involving importing and exporting, Brunei is ranked 42nd, down from 38th in the previous rankings.

In terms of dealing with construction permits, Brunei's 2009 ranking dropped four places to 72nd.

While the overall ranking for Brunei economy dropped, it figured more positively in some categories, such as enforcing a contract and closing a business.

Brunei's economy moved up the global ranking in contract enforcement from 158th to 159th. On the ease of closing a business, which covers the time and cost required to resolve bankruptcies, it moved up three places to 35th. -- Courtesy of The Brunei Times