Ireland rises in world rankings for doing business

Ireland is ranked 13th in the world and second in the eurozone for ease of doing business, according to the World Bank.

The index, which is released every year, looks at how easy it is for a business to start up in a country and the level of red tape involved in everyday business activities.

Ireland was 15th last year, although it would have been in 17th if the same methodology had been used for both years.

“I welcome the continued strong performance by Ireland in the Doing Business report, which is reflective of the ongoing reforms being implemented in Ireland’s business and regulatory environment as we continue to improve our competitiveness,” said Finance Minister Michael Noonan.

“The Doing Business report makes a valuable contribution as it encourages countries to benchmark themselves against the best performing economies and it supports the reform agenda at a global level. Importantly, it focuses on the quality of regulations and not just their efficiency,” he added.

Singapore was top of the index followed by New Zealand and Hong Kong. Finland was the only country ahead of Ireland in the eurozone. The UK, Sweden, and Denmark were ahead of Ireland among EU member states.

Jobs Minister Richard Bruton said the Government had been focused on improving competitiveness over the past few years. The Action Plan for Jobs, launched in 2012, identified areas where competitiveness could be improved and reforms were introduced on the back of these measures, he said.

Some of the reforms enacted over the past two years include the creation of a property register; setting up a credit registry; and ensuring that enforcing contracts is made easier by changes to the way the court system works, said Mr Bruton.

“I very much welcome the positive rankings of the World Bank. This is an ongoing trend where Ireland is continuing to improve in International rankings. The Action Plan for Jobs recognises the fundamental link between competitiveness and job creation, and is a key mechanism to drive competitiveness in all areas of economic activity,” he added.