China, India, and the Russian Federation are among the 30 economies that improved the most over time as 163 economies made their regulatory environment more business-friendly over the past six years, noted the survey by International Finance Corporation (IFC) and World Bank.
"Recently implemented mandatory electronic filing and payment for value-added tax made paying taxes easier for Indian firms," according to "Doing Business 2012: Doing Business in a More Transparent World" report released Thursday.
The report assesses regulations affecting domestic firms in 183 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders.
The survey found that Sri Lanka implemented the most reforms of any of the eight economies in South Asia, helping to create a better environment for entrepreneurs.
It rose nine places in the global ranking to 89, partly by strengthening investor protections and reducing taxes on business. Among the region's economies, the low- and lower-middle-income economies of Afghanistan, Bhutan, India, and Nepal also improved business regulations for local firms, the report noted.
Bhutan, rising four places to 142, recently launched a public credit registry and streamlined business start-up while Afghanistan, ranked 160, made it easier for local businesses to get an electrical connection.
The global report shows that governments in 125 economies out of 183 measured implemented a total of 245 business regulatory reforms-13 percent more reforms than in the previous year.
In sub-Saharan Africa, a record 36 out of 46 economies improved business regulations this year.
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