Doing Business Is Getting Easier Worldwide

January 21, 2015

Unlocking Word Meanings

Read the following words/expressions found in today’s article. 

1. developing /dɪˈvɛl ə pɪŋ/ (adj.) – starting to grow
ExampleDeveloping nations have yet to establish a strong economy.

2. zero in /ˈzɪər oʊ ɪn/ (v.) – focus on
Example: Economists zero in on the factors contributing to poverty.

3. rank /ræŋk/ (n.) – a level
Example: Countries at the top rank of world influence have strong economies.

4. emerging /ɪˈmɜr dʒɪŋ/ (adj.) – rising or becoming known
Example: Africa is an emerging region in global trading.

5. hospitable /hɒˈspɪt ə bəl/ (adj.) – open to; accommodating
Example: A strong government makes a country hospitable to foreign investment.


Read the text below.
A survey by the World Bank shows that doing business around the globe is becoming easier not only for wealthy countries but also for those that are developing.

The study, conducted over a period of twelve months, reveals that Singapore remains to be on the top spot of the rank. Known for its efficient business environment, Singapore has held this position for nine straight years.

In ranking the “ease of doing business” in each country, the World Bank looked into several factors including tax system, acquiring building permits, and how long  it takes to put up a business. The study zeroed in on the country’s largest city or cities.

Other big economies that moved up the rank are the United Kingdom and China—with the former moving from rank nine to eight, while the latter jumping three notches up from 93rd to 90th. Among the countries in the top ten, only Finland moved down—slipping to the ninth place. The United States, on the other hand, remained in the seventh spot.

Improvements in accommodating businesses were also seen in emerging markets, particularly in Africa. Nigeria, for instance, moved places up to 170th. Overall, five of the ten most improved countries in terms of doing business are African countries.

According to the World Bank, countries at the bottom of the rank have learned to apply the efficient practices of nations at the top of the list in the past ten years. Reforms have been enacted in these countries, resulting in better and more hospitable business environments.

Viewpoint Discussion

Enjoy a discussion with your tutor.  

Discussion A

·         How would you describe the business environment in your country?
·         Would you say it is easy to do business in your country? Why or why not?

Discussion B

·         What factors contribute to a strong economy?
·         How do you see your country’s economy in ten years?

January 21, 2015