Libya second worst in world for doing business: Forbes Magazine

By Libya Herald reporter.

Tripoli's Centra Business District (Photo: Social media)

Tripoli’s Central Business District (File photo)

Tunis, 20 December 2017:

Libya is the second worst country in the world for doing business according to a survey by Forbes Magazine. It came 149th out of 150 in its survey The Best And Worst Countries For Foing Business 2018.  Only Afghanistan was rated worse.

The best country for doing business in 2918, according to the Forbes listing, is the UK, followed by New Zealand, The Netherlands, Sweden and Canada.

Forbes rated 153 counties on 15 different factors. These were property rights, innovation, taxes, technology, corruption, infrastructure, market size, political risk, quality of life, workforce, freedom (personal, trade and monetary), red tape and investor protection.

In the corruption section, Libya, along with Yemen, was classed as the “most corrupt” country in world. It did not even make it onto the property rights list in which New Zealand came first and Yemen last.

Without a property register, property rights are difficult to assert in Libya.

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