GBCI 2025: Hong Kong, NZ among easiest for business while China rises in complexity
Hong Kong city skyline. REUTERS/Tyrone Siu
KUALA LUMPUR: Hong Kong and New Zealand remain among the world's least complex jurisdictions for doing business, according to the latest Global Business Complexity Index (GBCI) released by TMF Group.
The index, which analyses the business environment in 79 jurisdictions covering 94 per cent of global gross domestic product (GDP), ranks jurisdictions based on over 250 indicators of business complexity. Jurisdiction ranked first is deemed the most complex, while the 79th is the least.
TMF Group Head of Asia Pacific (APAC), Shagun Kumar in a statement said regional decision-makers are intensifying efforts to ease business procedures.
"Efforts to reduce unnecessary burdens are helping unlock economic growth across APAC. We expect businesses to adapt and leverage the region's potential as a vital part of their global strategies,' he said.
Hong Kong Special Administrative Region (SAR) retained its position as the fourth easiest jurisdiction globally for the second consecutive year. TMF Group said the territory continues to attract international businesses with its straightforward and low tax regime.
New Zealand also remained within the top 10 easiest jurisdictions, supported by the government's proactive stance on foreign investment and efficient administrative processes.
Meanwhile, India was ranked 18th in terms of complexity, driven largely by a wave of regulatory amendments aimed at enhancing transparency and accountability. While these changes are expected to yield long-term benefits, they have increased the compliance burden on businesses.
Japan saw an improvement in its ranking, moving from 38th to 43rd. The country's business environment has become less complex, aided by simplification efforts and increased availability of English-language support for international financial firms.
Singapore ranked 48th, maintaining its position as a resilient and technologically advanced trade hub. TMF Group cited the city-state's continued investment in infrastructure as a key factor behind its attractiveness to global businesses.
China's Mainland, however, entered the top 10 most complex jurisdictions, ranking 10th this year. The report attributed this to frequent regulatory changes and regional disparities, although the Chinese government continues to provide incentives to boost investment and trade logistics.
The top five most complex jurisdictions are Greece, France, Mexico, Turkey and Colombia. At the other end of the spectrum, the Cayman Islands, Denmark and New Zealand are the three least complex jurisdictions, followed by Hong Kong SAR and Jersey. - Bernama
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