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This is the easiest place in the world to do business

Posted online October 26, 2016 | 11:13 am

Starting a new business in New Zealand takes less than one day. In Venezuela, it takes 230.

The World Bank rated New Zealand as the easiest place in the world to do business. Venezuela ranked 187th out of 190 economies.

New Zealand rose over Singapore, which held the top spot for the past decade. The United States slipped one spot to eighth place.

Read more from CNNMoney.

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