Singapore, New Zealand beat Hong Kong in ease of doing business

But Hong Kong is still the best for dealing with construction permits.

Hong Kong clinched the third spot globally in the Ease of Doing Business rankings with a score of 85.3, according to a study by Russel Bedford. It lagged New Zealand and Singapore but outpaced Denmark.

The study said that the city saw its highest score in the ‘getting electricity’ category at 99.3 and ranked at third globally. Hong Kong was also named the best market globally in dealing with construction permits with a score of 93.5.

It nabbed second spot in paying taxes and and fifth in the ‘starting a business’ category.

In addition, Hong Kong grabbed seventh place in the ‘protecting the minority investors’ category and 29th in trading across borders. It ranked 31st and 45th spots in enforcing contracts and resolving insolvencies, respectively.