Russell Bedford supports World Bank Doing Business for 11th consecutive year

Professional services network Russell Bedford International has, for the 11th consecutive year, assisted the World Bank in researching its annual Doing Business project, contributing data on tax regulation, recent reforms, and the real costs of tax compliance worldwide. The report, Doing Business 2020 (which can be downloaded HERE), which over 40 Russell Bedford firms contributed to, shows that governments worldwide are motivated to undertake business reforms with the goal of bolstering sustainable economic growth.

This latest report finds that governments of 115 economies globally implemented 294 reforms to enhance the ease of doing business for domestic, private sector businesses which aids creation of more jobs while increasing commercial activity and incomes.

The report lists New Zealand, Singapore and Hong Kong as the top three economies for ease of doing business, and this year’s top economies where business climates improved the most were Saudi Arabia, Jordan and Togo.

Economies in Europe and Central Asia demonstrated strong momentum to improve their business climates, enacting 56 reforms and leading globally in reforms on paying taxes and enforcing contracts.

In the Middle East and North Africa region reforms have been on a steady rise, recording the most reforms on record to ease of doing business for domestic enterprises, up 14 from the previous year to 57 business regulatory reforms.

Speaking about the report’s findings, World Bank Group President David Malpass said: “Governments can foster market-oriented development and broad-based growth by creating rules that help businesses launch, hire, and expand. Removing barriers facing entrepreneurs generates better jobs, more tax revenues, and higher incomes, all of which are necessary to reduce poverty and raise living standards.”

Stephen Hamlet, CEO, Russell Bedford International, commented: "It is encouraging to see governments continue to strive towards achieving sustainable economic growth through the introduction of reforms that simplify regulations and procedures . For the past 11 years Russell Bedford has continued to contribute to this worthy project which helps to provide businesses with useful information in support of their cross-border investment projects.”

Russell Bedford International
3rd Floor, Paternoster House
65 St Paul's Churchyard
London
EC4M 8AB
United Kingdom

Susan Barron
susan.barron@russellbedford.com
+44 20 7410 0339

About Russell Bedford International
Established in 1983, Russell Bedford International is a global network of independent firms of accountants, auditors, tax advisers and business consultants. Ranked amongst the world’s leading accounting and audit networks, Russell Bedford is represented by some 700 partners, 6500 staff and 350 offices in 100 countries worldwide. Russell Bedford International is a member of the IFAC Forum of Firms and a member of EGIAN, the European Group of International Accounting Networks and Associations.