Business Legislation Efficiency: IMD World Competitiveness Ranking
The IMD World Competitiveness Yearbook includes a category that evaluates the efficiency of business legislation in different countries. This category examines various aspects such as legal frameworks, contract enforcement, and intellectual property rights to assess how they impact the business environment and competitiveness.
Here are the rankings for business legislation efficiency according to the IMD World Competitiveness Ranking for different years:
In 2019, Hong Kong claimed the top position, followed by Singapore in second place and Denmark in third place. Argentina, Brazil, and Venezuela held rankings of 61st, 62nd, and 63rd, respectively.
In 2020, Hong Kong maintained the first place, with Denmark in second place and Singapore in third place. Croatia, Argentina, and Venezuela ranked 61st, 62nd, and 63rd, respectively.
In 2021, Hong Kong secured the top position, followed by Denmark in second place and Singapore in third place. Mexico, Venezuela, and Argentina held rankings of 62nd, 63rd, and 64th, respectively.
In 2022, Hong Kong retained the first place, with Singapore in second place and Denmark in third place. Mongolia, Argentina, and Venezuela ranked 61st, 62nd, and 63rd, respectively.
These rankings provide insights into the efficiency of business legislation and its impact on the business environment in different countries. Higher index values indicate more effective legal frameworks, contract enforcement, and intellectual property rights, which contribute to a conducive business environment and enhance competitiveness.
