Setting Up Business in APEC Now 50% Faster

Setting Up Business in APEC Now 50% Faster

It takes half the amount of time for budding entrepreneurs in the Asia-Pacific region to set up a business today compared to about a decade ago.
Back in 2009, APEC set out to improve the business environment in the region through regulatory reforms that make it cheaper, faster and easier to do business. This gave rise to an initiative called Ease of Doing Business (EODB), which looks at the performance of the APEC economies through a set of indicators or priority areas. These indicators give an overall picture of how rules and regulations of an APEC economy facilitate – or hamper - the growth of the private sector.


"When examining APEC’s average values of the indicators in all priority areas, the progress achieved in starting a business was a remarkable 47.4 per cent improvement, far ahead of the target," says Carlos Kuriyama, senior analyst in the APEC Policy Support Unit, who led the project. "The average time to start a business went down by almost two weeks from about 28 days to 15 days."
Press-release at the official APEC web-site