Malta has been ranked 88th out of 190 countries in a ‘Doing Business 2020’ report by the World Bank.
Dropping four places from 2019, the island finds itself last out of all EU Member States and next to last out of all European states. San Marino was the only other European state to be ranked further down at 92nd place.
Malta has dropped 12 places from its best ranking of 76th in 2017 and is being outperformed by a wide range of countries. The top three countries were New Zealand, Singapore and despite months of heavy protesting, Hong Kong came in third place.
The Doing Business 2020 report analyses the cost companies bear as a result of business regulation. Scores are given to various categories and are then cross referenced, such as the number of days taken to start a business, getting credit, setting up utilities, international trading, taxes and labour market regulation.
Malta was noted for improvements in the reliability of the national power supply, the creation of a website for online registration of employees and VAT, as well as the introduction of new annual leave regulations.
To download the report, click here.