Macau is one of the freest economies in the world

21 January 2010

Washington, United States, 21 Jan – Macau is considered to be one of the freest economies in the ranking of the Heritage Foundation survey centre, in which the Hong Kong economy is ranked as the freest in the world. according with Macaunews Agency.

Macau is ranked behind Japan, in 20th place,, with 72.5 points, which indicate a generally free economy, and Taiwan in 27th position.

The ranking by the Heritage Foundation measures the economic freedom of 179 markets, by assessing their business, commercial and tax environment, along with their monetary, investment, corruption, financial, labour, property rights and spending of respective governments situations.

At the top of the list is the Special Administrative Region of Hong Kong, with 89.7 points, followed by Singapore (86.1 points), Australia (82.6). New Zealand (82.1), and Ireland (81.3) as the five freest markets in the world.

In terms of Portuguese-speaking countries, Portugal is classified in 62nd place,, followed by Cape Verde in 78th place. Mozambique is ranked 111th, Brazil in 113th, Sao Tome in 149th, Angola in 154th and East Timor in 164th places.

The survey recognises Hong Kong’s “competitive tax regime” and “respect for “property rights and a flexible labour market, alongside a qualified and highly motivated workforce, which has boosted prosperity an innovation of the Region’s economy.”

The survey also praised Hong Kong as “one of the world’s main financial and business centres,” which has a “transparent and effective” legal framework for the financial sector, making it the second-largest destination for foreign direct investment.

China is ranked 140th in the Heritage Foundation list, with 51 pints, which show an economy that is generally not free. (macauhub)