Most business-friendly countries: report

Switzerland is 'open for business' (image: Geektown.ca)

Switzerland is ‘open for business’ (image: Geektown.ca)

Luxembourg, Switzerland and Panama are the most business-friendly countries, CNBC citing a recent survey.

Luxembourg, which came first, while Switzerland in second place, did well in business terms for their favorable tax environments and transparent governments, while Panama’s cheap manufacturing and its reputation as a tax haven helped it to the third spot. However, the Central American country finished near the bottom of the list in terms of transparent government practices.

The Best Countries list, which surveyed 21,000 people from around the world, was compiled by the BAV Group, along with Pennsylvania University’s Wharton School and the U.S. News and World Report.

The U.S. ranked 43rd on the ‘open for business’ front, while the U.K. came in 20th. Both were seen as relatively bureaucratic but the U.K. did better than the U.S. in terms of having transparent government practices.

Respondents were also asked to rank political and business leaders. Canadian Prime Minister Justin Trudeau topped that list, followed by German Chancellor Angela Merkel and French President Emmanuel Macron. U.S. President Donald Trump was the least liked, followed by Philippines President Rodrigo Duterte and Russia’s Vladimir Putin.

– staff and media reports