Indonesia's doing business rating declines

Indonesia's doing business rating dropped three levels to 123 from the previous 126, but is still better than that of India's and the Philippines that stood at 132 and 136 each, according to a report issued by the World Bank (WB) on Thursday. According to the report entitled Doing Business 2012: Doing Business in More Transparent World issued by the World Bank, the easiness of doing business in Indonesia was still lagged far behind the other countries in the region with the highest rating was seized by Singapore. The report said that the latest doing business ratings in Thailand, Malaysia and Brunei stood at 17, 18 and 86. Indonesian rating was even lower if compared to Vietnam and Papua New Guinea that stood at 98 and 101. According to the WB's report, Singapore and China's Hong Kong provide the best investment climates for investors in East Asia and Pacific region. China was regarded to provide the most friendly investment atmosphere for the investors in the last six years, according to the report. The report also said that 22 countries in East Asia and Pacific had made their investment regulations friendlier for the investors in the last six years. "With more effective and transparent policies on business regulations, the chances to improve growths would be more apparent, "WB Group Global Indicators and Analysis Director Augusto Lopez- Claros said in the report. The 2012 Doing Business report analyzes policy mixing of 183 countries in providing best investment climates for investors. Among the policies were the regulations to start business, settlement on unperformed payment and inter-region trading. The report said that Malaysia managed to increase its rating to 18, or five levels than the previous one after it reformed investment regulation. It now provides an integrated computerized system in "one stop shop" for investors to organize documents before starting their businesses in that country.