(Brunei Times) – Brunei is the most improved economy in the world for the second year running according to the World Bank’s latest report which measures the efficiency and regulation of domestic businesses, the Energy and Industry Department at the Prime Minister’s Office (EIDPMO) said yesterday.
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The World Bank’s Doing Business (DB) 2017 report entitled ‘Equal Opportunity for All’ states that Brunei is the most improved economy in the world with the highest increase on its ‘distance to frontier’ (DTF) score with 5.28 points, taking its score to 65.51 out of 100.
Kuala Belait, a major city in Brunei. Credit: IQRemix, Wikimedia Commons
The DTF score measures the distance of each economy to the “frontier” which represents the best performance observed on each of the indicators across all economies in the Doing Business sample since 2005.
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In this aspect, the latest DB report released on Wednesday, said Brunei is placed first of the 10 most improved economies which are Kazakhstan, Kenya, Belarus, Indonesia, Serbia, Georgia, Pakistan, United Arab Emirates and Bahrain.
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For the ASEAN region, Indonesia placed second in terms of DTF score with an increase of 2.95 points, followed by Vietnam which improved by 2.72 points.