Washington — Developing economies such as Nigeria, India, Thailand and El Salvador have made the largest strides in improving their business climates while New Zealand and Singapore retained their top ranks for ease of doing business, the World Bank said Tuesday. In an annual report on 190 countries’ efforts to encourage investment and job creation by cutting red tape and reforming regulations, the global lender also said sub-Saharan Africa was again the region that experienced the most progress — but countries there varied widely in performance. "It is particularly gratifying to see that many of the reforms are being carried out in economies and sectors where they are most needed," Rita Ramalho, acting head of the bank’s Global Indicators Group, said in a statement. Now in its 15th year, the annual report tracks indicator areas such as the ease of starting a business, connecting to power grids, contract enforcement, taxes and bankruptcy proceedings, and then scores countries for th...
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