HONG Kong and Singapore are the best governed economies in the Asia Pacific in terms of their openness to international business, a new index has found.
Singapore-based consulting firm Vriens Partners' inaugural Good Governance for International Business index in Asia Pacific for 2010 saw Hong Kong in top spot with Singapore a close second.
In all, 18 economies were ranked for the index, which was based on surveys of 100 business leaders from the various economies.
The Republic was praised for its 'openness to international trade and business, good local infrastructure, public sector quality and effectiveness and favourable taxation policies'.
It was ranked first in fiscal and monetary administration, and public sector quality and effectiveness, second in taxation, corruption and openness to international trade, and fourth for rule of law.
While lauding Singapore's successful transformation into a regional hub for multinational corporations, Vriens Partners also highlighted the Republic's restrictions on foreign investments in areas such as telecommunications, domestic media and financial, legal and professional services.
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