The Danish Minister for Trade and European Affairs, Nick Hækkerup, says:
- “The Danish government continuously works to improve conditions for doing business in Denmark and I am pleased that this results in yet another top ranking of Denmark in the World Bank’s Doing Business report. This year’s analysis points to the fact that governments play an important role in creating a business-friendly environment, and Denmark is highlighted as a role model in this regard.”
In the report it reads: “The economies performing best in the Doing Business rankings therefore are not those with no regulation but those whose governments have managed to create rules that facilitate interactions in the marketplace without needlessly hindering the development of the private sector. Ultimately, Doing Business is about smart regulations, and these can be provided only by a well-functioning state.”
New initiatives further improve Danish business environment
Denmark is untouched as the best business destination in Europe despite the fact that the country has not been given credit for any reforms since publication of the 2013 version. Nevertheless, the Danish government has launched several business-friendly initiatives, but these have come into action after the June 1 deadline of this year’s report.
- “As a matter of fact we have recently launched a range of new initiatives which will improve the conditions for doing business in Denmark even further,” says Minister for Trade and European Affairs Nick Hækkerup. “We have launched a growth plan which entails lower corporate taxes, improved access to financing, more public investment projects and other elements leading to a conducive business environment.”
In regard to foreign investors, Denmark has also established a formalised forum to ensure that investors through Invest in Denmark obtain easy access to all relevant authorities and that any obstacles can be handled by the liable entity or entities through the feedback from Invest in Denmark’s dialogue with investors.
Moreover this autumn the access for business people working with Denmark has been improved through a red carpet visa initiative.
Annual World Bank report benchmarking business regulation
Doing Business 2014 is the 11th in a series of annual reports benchmarking the regulations that affect private sector firms, in particular small and medium-size enterprises.
The report presents quantitative indicators on 11 areas of business regulation for 189 economies of which Denmark is ranked the 5th easiest place to start and run a business.
The World Bank’s Doing Business report is based on inputs of a network of more than 9,000 local experts who compare business regulation around the world. This year the top 5 is unchanged from last year and only Singapore, Hong Kong, New Zealand and the US are ahead of Denmark.
Download the report by clicking the picture below.