Belgium's growth rate in the world of business is the third best over the past 12 months, the Economist Intelligence Unit (EIU) said on Thursday. The EIU is the research and analysis division of the British media group The Economist.
Only Vietnam and Thailand made more progress than Belgium. The country is ahead of Sweden, India and Costa Rica.
"Belgium’s progress reflects a more open policy towards Foreign Direct Investment (FDI), with a new federal mechanism that has put in place a clearer regulatory framework since January 2023," the EIU comments in its report.
The European Union’s statistical office, Eurostat, defines FDI as international investments that reflect the intention of an entity resident in one economy to acquire a lasting interest in an enterprise operating in another economy.
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"Belgium’s robust institutional framework, business-friendly policy stance, high-quality infrastructure network and geographical position at the heart of Europe justify its ranking," the EIU added.
By contrast, the eight states that have regressed the most are, in order, China, Bahrain, Chile, Slovakia, Kuwait, Colombia, Serbia and Latvia. In total, the analysis screened 82 nations across 91 indicators.
Singapore, Canada and Denmark are the three countries with the most favourable business environment over the next five years, according to the EIU.
