New Zealand has rated well in two international business and economic competitive surveys, but the Government believes it can do better, Finance Minister Bill English says.

In the World Bank’s Doing Business Survey, which ranks countries on 10 measures relating to the ease of doing business, New Zealand retained its second place behind Singapore in the year to June 1, 2009.

And New Zealand moved up four places to 20th out of 133 countries in the World Global Forum’s annual Global Competitiveness Report. This measures institutions, policies and other factors determining productivity levels.

"It is pleasing to see these business and economic competitiveness ratings, but we believe there is room for improvement,” Mr English says. “That is why we have launched a series of reviews aimed at cutting red tape and creating an environment where business can thrive.

"As the World Bank report says, onerous or poor regulation deters investment and stifles growth. This Government is committed to increasing productivity by removing superfluous regulation that grew unchecked in recent years.

"Creating better regulatory conditions lifts business confidence, which in turn flows through to investment and jobs.

"Having a simple and transparent regulatory environment also helps attract international investment and we need to ensure New Zealand remains globally competitive," Mr English says.

The Government is currently reviewing 15 pieces of major regulatory legislation, including the Resource Management Act, the Overseas Investment Act, the Building Act and legislation covering the electricity and telecommunications sectors.

"We would expect changes from those reviews - as they are implemented - to flow into the results of future surveys."