World Bank survey on "Good places to do Business" ranks Solomon Islands at 79th spot in the world

A latest survey of 178 countries by the World Bank on the "Ease of Doing Business" has ranked Solomon Islands at 79th position in overall, lagging behind Pacific neighbours New Zeland, Australia, Fiji, Tonga, Samoa, Vanuatu and Kiribati.

The survey showed that the best place to do business among Pacific Island Countries is Fiji, followed by Tonga, Samoa, Vanuatu, Kiribati, Solomon Islands, Palau, Papua New Guinea and Marshall Islands.

In the overall ranking of best places to do business, Singapore, New Zealand and the USA topped the list whilst Australia settled at 9th position. Fiji ranked in overall at 36; Tonga 47; Samoa 61; Vanuatu 62; Kiribati 73; Solomon Islands 79; Palau 82; PNG 84 and Marshall Islands 89.

It is understood economies are ranked on their ease of doing business, from 1–178, with first place being the best. A high ranking on the ease of doing business index means the regulatory environment is conducive to the operation of business. This index averages the country's percentile rankings on 10 topics, made up of a variety of indicators, giving equal weight to each topic.

The World Bank survey tracks 10 indicators of business regulation that among other things measure the time and cost of meeting government requirements in setting up businesses.