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Denmark has dynamic, attractive business environments: Copenhagen Capacity chief

Xinhua, October 26, 2016 Adjust font size:

Denmark offers one of the world's most dynamic and attractive business environments, Copenhagen Capacity CEO Claus Loenborg said Wednesday, echoing a World Bank report indicating the country is the easiest for business in Europe.

"Greater Copenhagen offers innovative companies and industry clusters, a highly skilled workforce, very competitive taxes and business costs, and a famously flexible labour market", Loenborg said in a press release.

The World Bank ranks Denmark number one in Europe and number three in the world in the just released 2017 Ease of Doing Business Index, ranking 190 countries and regions worldwide.

It is the sixth time in a row for Denmark to take the top spot among the European countries, outperforming its Nordic fellow countries Norway, Sweden, Finland and Iceland.

"The World Bank ranking confirms that Denmark offers one of the world's most dynamic and attractive business environments," Loenborg said.

Doing Business 2017 is the 14th in a series of annual reports published by World Bank Group, measuring the regulations that enhance business activity and those that constrain it across 190 economies.

According to the index, Denmark scores top on the Trading Across Borders indicator, ranking time and cost to export and import.

The country also performs well on such indicators as Dealing with Construction Permits (no. 6), Paying Taxes including ease of administrative burdens (no. 7), Resolving Insolvency (no. 8) and Registering Property (no. 12).

Loenborg noted that Denmark also has flexible labor market regulation with a non-regulated approach to fixed-term contracts and no restrictions on overtime work.

Figures released by the National Bank of Denmark showed that the country has registered a rising foreign direct investment over the past two years, after a period in which the small Scandinavian country had difficulties in attracting foreign businesses.

Established in 1994, Copenhagen Capacity is Greater Copenhagen's official organization for investment, promotion and business development. Endit