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Investment / Investment climate

Investment climate

Economic freedom, FDI restrictiveness, and firm climate signals across the SEA-11. Read the insight →
Separate instruments · mixed vintages

Heritage overall

Singapore is the regional ceiling and an exceptional hub, outside the peer five.

Heritage overall

Heritage · edition 2026

Index 0–100 · SEA-11 coverage

Heritage overall: values, source, year and as_of
CountryIndex 0–100
0100
YearSource & notes
SingaporeCeiling / hub exception84.42026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 1; Asia-Pacific region rank 1; score change +0.3. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 84.4.

Malaysia68.02026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 45; Asia-Pacific region rank 8; score change +0.9. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 68.0.

Brunei67.52026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 51; Asia-Pacific region rank 9; score change +0.5. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 67.5.

Indonesia65.12026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 60; Asia-Pacific region rank 10; score change -0.1. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 65.1.

Vietnam64.42026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 66; Asia-Pacific region rank 11; score change -0.8. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 64.4.

Philippines62.92026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 77; Asia-Pacific region rank 14; score change +2.3. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 62.9.

Thailand62.22026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 82; Asia-Pacific region rank 16; score change +1.6. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 62.2.

Cambodia58.72026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 98; Asia-Pacific region rank 21; score change +0.5. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 58.7.

Laos50.92026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 141; Asia-Pacific region rank 30; score change -0.2. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 50.9.

Timor-Leste47.92026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 157; Asia-Pacific region rank 35; score change +0.0. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 47.9.

Myanmar44.52026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Heritage Index of Economic Freedom overall score (0–100). Edition 2026. World rank 164; Asia-Pacific region rank 38; score change +0.8. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 44.5.

Philippines highlighted. Bars start at zero; gaps have no bars. Regional scales stay fixed when filtering.

Heritage business and investment freedom

These components remain distinct from OECD statutory restrictiveness. A higher Heritage investment score and a more restrictive OECD reading can coexist.

Heritage business freedom

Heritage · edition 2026

Index 0–100 · SEA-11 coverage

Heritage business freedom: values, source, year and as_of
CountryIndex 0–100
0100
YearSource & notes
SingaporeCeiling / hub exception90.62026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 1; Asia-Pacific region rank 1; score change +0.3. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 90.6.

Malaysia79.62026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 45; Asia-Pacific region rank 8; score change +0.9. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 79.6.

Brunei75.32026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 51; Asia-Pacific region rank 9; score change +0.5. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 75.3.

Vietnam70.02026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 66; Asia-Pacific region rank 11; score change -0.8. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 70.0.

Thailand69.92026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 82; Asia-Pacific region rank 16; score change +1.6. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 69.9.

Indonesia69.22026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 60; Asia-Pacific region rank 10; score change -0.1. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 69.2.

Philippines69.22026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 77; Asia-Pacific region rank 14; score change +2.3. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 69.2.

Timor-Leste62.72026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 157; Asia-Pacific region rank 35; score change +0.0. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 62.7.

Cambodia60.82026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 98; Asia-Pacific region rank 21; score change +0.5. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 60.8.

Laos54.22026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 141; Asia-Pacific region rank 30; score change -0.2. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 54.2.

Myanmar37.92026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Business Freedom component (0–100). World rank 164; Asia-Pacific region rank 38; score change +0.8. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 37.9.

Philippines highlighted. Bars start at zero; gaps have no bars. Regional scales stay fixed when filtering.

Heritage investment freedom

Heritage · edition 2026

Index 0–100 · SEA-11 coverage

Heritage investment freedom: values, source, year and as_of
CountryIndex 0–100
0100
YearSource & notes
SingaporeCeiling / hub exception902026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 1; Asia-Pacific region rank 1; score change +0.3. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 90.

Philippines702026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 77; Asia-Pacific region rank 14; score change +2.3. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 70.

Brunei652026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 51; Asia-Pacific region rank 9; score change +0.5. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 65.

Malaysia602026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 45; Asia-Pacific region rank 8; score change +0.9. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 60.

Vietnam602026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 66; Asia-Pacific region rank 11; score change -0.8. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 60.

Thailand552026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 82; Asia-Pacific region rank 16; score change +1.6. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 55.

Indonesia502026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 60; Asia-Pacific region rank 10; score change -0.1. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 50.

Cambodia502026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 98; Asia-Pacific region rank 21; score change +0.5. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 50.

Timor-Leste452026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 157; Asia-Pacific region rank 35; score change +0.0. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 45.

Laos352026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 141; Asia-Pacific region rank 30; score change -0.2. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 35.

Myanmar302026
Heritage Foundation Index of Economic Freedom 2026 · year 2026 · as_of 2026-09-06
Observation notes

Investment Freedom component (0–100). World rank 164; Asia-Pacific region rank 38; score change +0.8. PDF: https://static.heritage.org/index/pdf/2026/2026_indexofeconomicfreedom.pdf

Original CSV value: 30.

Philippines highlighted. Bars start at zero; gaps have no bars. Regional scales stay fixed when filtering.

Statutory FDI restrictiveness

Higher means more closed: 0 open → 1 closed. This measures statutory restrictions, not firm experience. Timor-Leste is not covered.

OECD FDI Regulatory Restrictiveness Index

OECD FDI RRI · 2024

0 open → 1 closed · SEA-11 coverage

OECD FDI Regulatory Restrictiveness Index: values, source, year and as_of
Country0 open → 1 closed
01
YearSource & notes
Laos0.4032024
OECD FDI Regulatory Restrictiveness Index 2024 · year 2024 · as_of 2026-09-06
Observation notes

Statutory FDI restrictiveness, total all activities (0=open, 1=closed). End-Dec 2024 measures. Prefer over discontinued Doing Business.

Original CSV value: 0.402567917.

Philippines0.3572024
OECD FDI Regulatory Restrictiveness Index 2024 · year 2024 · as_of 2026-09-06
Observation notes

Statutory FDI restrictiveness, total all activities (0=open, 1=closed). End-Dec 2024 measures. Prefer over discontinued Doing Business.

Original CSV value: 0.356616667.

Malaysia0.3222024
OECD FDI Regulatory Restrictiveness Index 2024 · year 2024 · as_of 2026-09-06
Observation notes

Statutory FDI restrictiveness, total all activities (0=open, 1=closed). End-Dec 2024 measures. Prefer over discontinued Doing Business.

Original CSV value: 0.321855104.

Indonesia0.2822024
OECD FDI Regulatory Restrictiveness Index 2024 · year 2024 · as_of 2026-09-06
Observation notes

Statutory FDI restrictiveness, total all activities (0=open, 1=closed). End-Dec 2024 measures. Prefer over discontinued Doing Business.

Original CSV value: 0.282185938.

Thailand0.2402024
OECD FDI Regulatory Restrictiveness Index 2024 · year 2024 · as_of 2026-09-06
Observation notes

Statutory FDI restrictiveness, total all activities (0=open, 1=closed). End-Dec 2024 measures. Prefer over discontinued Doing Business.

Original CSV value: 0.239741667.

Vietnam0.2192024
OECD FDI Regulatory Restrictiveness Index 2024 · year 2024 · as_of 2026-09-06
Observation notes

Statutory FDI restrictiveness, total all activities (0=open, 1=closed). End-Dec 2024 measures. Prefer over discontinued Doing Business.

Original CSV value: 0.219480417.

Brunei0.1852024
OECD FDI Regulatory Restrictiveness Index 2024 · year 2024 · as_of 2026-09-06
Observation notes

Statutory FDI restrictiveness, total all activities (0=open, 1=closed). End-Dec 2024 measures. Prefer over discontinued Doing Business.

Original CSV value: 0.185060417.

Myanmar0.1432024
OECD FDI Regulatory Restrictiveness Index 2024 · year 2024 · as_of 2026-09-06
Observation notes

Statutory FDI restrictiveness, total all activities (0=open, 1=closed). End-Dec 2024 measures. Prefer over discontinued Doing Business.

Original CSV value: 0.14305625.

Cambodia0.0992024
OECD FDI Regulatory Restrictiveness Index 2024 · year 2024 · as_of 2026-09-06
Observation notes

Statutory FDI restrictiveness, total all activities (0=open, 1=closed). End-Dec 2024 measures. Prefer over discontinued Doing Business.

Original CSV value: 0.099327083.

SingaporeCeiling / hub exception0.0652024
OECD FDI Regulatory Restrictiveness Index 2024 · year 2024 · as_of 2026-09-06
Observation notes

Statutory FDI restrictiveness, total all activities (0=open, 1=closed). End-Dec 2024 measures. Prefer over discontinued Doing Business.

Original CSV value: 0.06516875.

Timor-Leste—GAP · not zero—
Pack coverage note · OECD economy coverage · year not available · as_of 2026-09-06
Observation notes

Timor-Leste is not covered by the OECD FDI RRI economy list. Missing source observation, not zero.

Original CSV value: not supplied.

Philippines highlighted. Bars start at zero; gaps have no bars. Regional scales stay fixed when filtering.

Enterprise Surveys: firm experience

Formal private-sector firms with at least five employees. Wave years differ; Myanmar’s critically stale 2016 observations are excluded from the bars.

Bribery incidence

Enterprise Surveys · wave years

% of firms · SEA-11 coverage

Bribery incidence: values, source, year and as_of
Country% of firms
0100
YearSource & notes
Vietnam31.12023
World Bank WDI IC.FRM.BRIB.ZS (Enterprise Surveys) · year 2023 · as_of 2026-09-06
Observation notes

Bribery incidence: % of firms experiencing at least one bribe payment request. WDI lastupdated 2026-07-13.

Original CSV value: 31.07424545.

Laos30.62024
World Bank WDI IC.FRM.BRIB.ZS (Enterprise Surveys) · year 2024 · as_of 2026-09-06
Observation notes

Bribery incidence: % of firms experiencing at least one bribe payment request. WDI lastupdated 2026-07-13.

Original CSV value: 30.60422516.

Cambodia27.12023
World Bank WDI IC.FRM.BRIB.ZS (Enterprise Surveys) · year 2023 · as_of 2026-09-06
Observation notes

Bribery incidence: % of firms experiencing at least one bribe payment request. WDI lastupdated 2026-07-13.

Original CSV value: 27.08584023.

Indonesia20.32023
World Bank WDI IC.FRM.BRIB.ZS (Enterprise Surveys) · year 2023 · as_of 2026-09-06
Observation notes

Bribery incidence: % of firms experiencing at least one bribe payment request. WDI lastupdated 2026-07-13.

Original CSV value: 20.34305.

Thailand19.02025
World Bank WDI IC.FRM.BRIB.ZS (Enterprise Surveys) · year 2025 · as_of 2026-09-06
Observation notes

Bribery incidence: % of firms experiencing at least one bribe payment request. WDI lastupdated 2026-07-13.

Original CSV value: 19.02393532.

Timor-Leste9.8†2021 · OLDER
World Bank WDI IC.FRM.BRIB.ZS (Enterprise Surveys) · year 2021 · as_of 2026-09-06
Observation notes

Bribery incidence: % of firms experiencing at least one bribe payment request. WDI lastupdated 2026-07-13. Stale vintage — year badge required.

Original CSV value: 9.84965992.

Philippines8.32023
World Bank WDI IC.FRM.BRIB.ZS (Enterprise Surveys) · year 2023 · as_of 2026-09-06
Observation notes

Bribery incidence: % of firms experiencing at least one bribe payment request. WDI lastupdated 2026-07-13.

Original CSV value: 8.333995819.

Malaysia3.82024
World Bank WDI IC.FRM.BRIB.ZS (Enterprise Surveys) · year 2024 · as_of 2026-09-06
Observation notes

Bribery incidence: % of firms experiencing at least one bribe payment request. WDI lastupdated 2026-07-13.

Original CSV value: 3.804278374.

Brunei3.32025
World Bank WDI IC.FRM.BRIB.ZS (Enterprise Surveys) · year 2025 · as_of 2026-09-06
Observation notes

Bribery incidence: % of firms experiencing at least one bribe payment request. WDI lastupdated 2026-07-13.

Original CSV value: 3.297333241.

SingaporeCeiling / hub exception0.62023
World Bank WDI IC.FRM.BRIB.ZS (Enterprise Surveys) · year 2023 · as_of 2026-09-06
Observation notes

Bribery incidence: % of firms experiencing at least one bribe payment request. WDI lastupdated 2026-07-13.

Original CSV value: 0.575109899.

Philippines highlighted. Bars start at zero; gaps have no bars. Regional scales stay fixed when filtering.

Management time spent on regulation

Enterprise Surveys · wave years

% of senior management time · SEA-11 coverage

Management time spent on regulation: values, source, year and as_of
Country% of senior management time
0100
YearSource & notes
Laos20.02024
World Bank WDI IC.GOV.DURS.ZS (Enterprise Surveys) · year 2024 · as_of 2026-09-06
Observation notes

Percent of senior management time spent dealing with government regulations (ES via WDI). WDI lastupdated 2026-07-13.

Original CSV value: 19.9527359.

Timor-Leste17.2†2021 · OLDER
World Bank WDI IC.GOV.DURS.ZS (Enterprise Surveys) · year 2021 · as_of 2026-09-06
Observation notes

Percent of senior management time spent dealing with government regulations (ES via WDI). WDI lastupdated 2026-07-13. Stale vintage — year badge required.

Original CSV value: 17.21948814.

Philippines7.22023
World Bank WDI IC.GOV.DURS.ZS (Enterprise Surveys) · year 2023 · as_of 2026-09-06
Observation notes

Percent of senior management time spent dealing with government regulations (ES via WDI). WDI lastupdated 2026-07-13.

Original CSV value: 7.159245014.

SingaporeCeiling / hub exception6.82023
World Bank WDI IC.GOV.DURS.ZS (Enterprise Surveys) · year 2023 · as_of 2026-09-06
Observation notes

Percent of senior management time spent dealing with government regulations (ES via WDI). WDI lastupdated 2026-07-13.

Original CSV value: 6.794706345.

Cambodia6.22023
World Bank WDI IC.GOV.DURS.ZS (Enterprise Surveys) · year 2023 · as_of 2026-09-06
Observation notes

Percent of senior management time spent dealing with government regulations (ES via WDI). WDI lastupdated 2026-07-13.

Original CSV value: 6.241413593.

Vietnam4.52023
World Bank WDI IC.GOV.DURS.ZS (Enterprise Surveys) · year 2023 · as_of 2026-09-06
Observation notes

Percent of senior management time spent dealing with government regulations (ES via WDI). WDI lastupdated 2026-07-13.

Original CSV value: 4.481511593.

Malaysia4.02024
World Bank WDI IC.GOV.DURS.ZS (Enterprise Surveys) · year 2024 · as_of 2026-09-06
Observation notes

Percent of senior management time spent dealing with government regulations (ES via WDI). WDI lastupdated 2026-07-13.

Original CSV value: 3.99862504.

Brunei1.82025
World Bank WDI IC.GOV.DURS.ZS (Enterprise Surveys) · year 2025 · as_of 2026-09-06
Observation notes

Percent of senior management time spent dealing with government regulations (ES via WDI). WDI lastupdated 2026-07-13.

Original CSV value: 1.786506414.

Indonesia1.32023
World Bank WDI IC.GOV.DURS.ZS (Enterprise Surveys) · year 2023 · as_of 2026-09-06
Observation notes

Percent of senior management time spent dealing with government regulations (ES via WDI). WDI lastupdated 2026-07-13.

Original CSV value: 1.295180559.

Thailand0.32025
World Bank WDI IC.GOV.DURS.ZS (Enterprise Surveys) · year 2025 · as_of 2026-09-06
Observation notes

Percent of senior management time spent dealing with government regulations (ES via WDI). WDI lastupdated 2026-07-13.

Original CSV value: 0.2983283997.

Philippines highlighted. Bars start at zero; gaps have no bars. Regional scales stay fixed when filtering.

Fraser economic freedom

EFW 2025 report, data year 2023. A separate 0–10 instrument: never averaged with Heritage.

Fraser economic freedom

EFW 2025 / data 2023

Index 0–10 · SEA-11 coverage

Fraser economic freedom: values, source, year and as_of
CountryIndex 0–10
010
YearSource & notes
SingaporeCeiling / hub exception8.502023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 2/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 8.5.

Malaysia7.562023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 35/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 7.56.

Thailand7.102023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 57/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 7.1.

Brunei7.092023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 58/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 7.09.

Philippines7.052023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 62/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 7.05.

Indonesia6.962023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 65/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 6.96.

Cambodia6.792023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 77/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 6.79.

Vietnam6.212023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 105/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 6.21.

Timor-Leste5.972023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 120/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 5.97.

Laos5.652023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 132/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 5.65.

Myanmar4.462023
Fraser Institute Economic Freedom of the World 2025 (data year 2023) · year 2023 · as_of 2026-09-06
Observation notes

Overall EFW score 0–10. World rank 160/165. Report PDF: https://www.fraserinstitute.org/sites/default/files/2025-09/economic-freedom-of-the-world-2025-annual-report_1.pdf

Original CSV value: 4.46.

Philippines highlighted. Bars start at zero; gaps have no bars. Regional scales stay fixed when filtering.

New business registrations

Registrations relative to the working-age population, not an overall regulation score. Singapore’s hub scale is exceptional.

New business density

WDI · mixed vintages

New registrations per 1,000 people aged 15–64 · SEA-11 coverage

New business density: values, source, year and as_of
CountryNew registrations per 1,000 people aged 15–64
015
YearSource & notes
SingaporeCeiling / hub exception11.592024
World Bank WDI IC.BUS.NDNS.ZS · year 2024 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13.

Original CSV value: 11.5926954126226.

Malaysia2.382024
World Bank WDI IC.BUS.NDNS.ZS · year 2024 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13.

Original CSV value: 2.37877480507523.

Timor-Leste2.34†2022 · OLDER
World Bank WDI IC.BUS.NDNS.ZS · year 2022 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13.

Original CSV value: 2.33534075688993.

Vietnam2.002024
World Bank WDI IC.BUS.NDNS.ZS · year 2024 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13.

Original CSV value: 1.99943682366206.

Thailand1.752024
World Bank WDI IC.BUS.NDNS.ZS · year 2024 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13.

Original CSV value: 1.74887101826675.

Laos1.572024
World Bank WDI IC.BUS.NDNS.ZS · year 2024 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13.

Original CSV value: 1.56907796070844.

Indonesia0.942024
World Bank WDI IC.BUS.NDNS.ZS · year 2024 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13.

Original CSV value: 0.943582664263138.

Philippines0.512024
World Bank WDI IC.BUS.NDNS.ZS · year 2024 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13.

Original CSV value: 0.507084230698583.

Brunei0.472024
World Bank WDI IC.BUS.NDNS.ZS · year 2024 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13.

Original CSV value: 0.469246426105643.

Cambodia0.452024
World Bank WDI IC.BUS.NDNS.ZS · year 2024 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13.

Original CSV value: 0.454833397129221.

Myanmar0.39†2018 · OLDER
World Bank WDI IC.BUS.NDNS.ZS · year 2018 · as_of 2026-09-06
Observation notes

New business density: new registrations per 1,000 people ages 15-64. WDI lastupdated 2026-07-13. Critically stale vintage — badge required; omit from peer ranking where peers are 2023–25.

Original CSV value: 0.393885051609566.

Philippines highlighted. Bars start at zero; gaps have no bars. Regional scales stay fixed when filtering.

Key findings from this pack

  • PH Heritage investment freedom exceeds its four peers, while OECD statutory restrictions remain comparatively high.
  • Heritage and Fraser use different instruments and vintages; their scores are never averaged.
  • PH survey bribery incidence is lower than Vietnam and Indonesia in the supplied wave; management time is a separate burden.
  • Singapore is an exceptional hub. Myanmar’s critically stale survey observations are excluded and Timor-Leste’s OECD cell remains a gap.

Methods & coverage

Different instruments, separate scales

Heritage uses the 2026 edition and a 0–100 scale. Fraser EFW 2025 reports data for 2023 on a 0–10 scale. They are never averaged. OECD FDI RRI measures statutory restrictions as of end-2024, from 0 open to 1 closed. Heritage investment freedom and OECD restrictiveness use different definitions and weights.

Survey waves and coverage

Enterprise Surveys describe formal private-sector firms with at least five employees; informal firms are outside the sample. Myanmar’s 2016 survey observations are critically stale and excluded from all survey bars. Timor-Leste’s 2021 wave is marked older. Every country retains its wave year. New business density keeps Myanmar’s 2018 and Timor-Leste’s 2022 badges. Timor-Leste has an intentional OECD gap, not a zero.

Related measures

Singapore is an exceptional hub, not an ASEAN peer mean. This pack complements Governance & risk, FDI flows and Logistics & infrastructure. It does not reproduce their series or publish discontinued business-regulation rankings.

Original gaps & caveats · Pack definitions · Source provenance

Use this research

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ASEAN in Data (2026). Investment climate. /topics/investment-climate

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