Finance｜Singapore ranks first in global business environment for 16 consecutive years, while Hong Kong falls to ninth place

The British Economist Intelligence Unit (EIU) released its latest "Business Environmental Ranking" on Thursday (21st), which measures the attractiveness of the business environment in 82 countries and regions around the world. Singapore has topped the list for the 16th consecutive year, and Hong Kong fell from seventh place last year to ninth place.

Singapore’s business environment advantages

Singapore has always performed well in terms of business environment. Its government actively promotes innovation and technological development, provides preferential policies and support to enterprises, and attracts many multinational companies to set up business here.

Hong Kong business environment challenges

In contrast, Hong Kong has faced various challenges in recent years, including political turmoil, social instability and the impact of the epidemic. These factors have had a certain impact on its business environment, leading to a decline in the ranking.

Hong Kong’s future development prospects

Although Hong Kong is currently facing difficulties, its status as an international financial center and business hub remains unshakable. I believe that with the joint efforts of the government and enterprises, Hong Kong's business environment will gradually improve.

• Strengthen cooperation with the mainland
• Promote the development of digital economy
• Improve financial market competitiveness

Conclusion

The business environment ranking reflects the actual business environment of each country. Singapore's 16 consecutive years of championship status shows its importance in the global economy, while Hong Kong needs to improve its competitiveness and maintain its international status through reform and innovation.