New Zealand has been ranked the top country in the world for doing business in the World Bank's 2017 Doing Business Report, and Tauranga business leaders hope it will net the region dividends.

The report, which examines regulations that enhance or constrain business activity, assesses 190 countries and ranks them according on the impacts of their regulatory environment on business.

The report is made up of ten different indicators affecting the life of a business. New Zealand ranks first in half of these including starting a business, dealing with construction permits, registering property, getting credit, and protecting minority investors.

Minister for Economic Development Steven Joyce says it's the first time New Zealand has topped the list.

'The report highlights the good work government agencies are doing through our comprehensive Business Growth Agenda to reduce the cost of doing business,” says Steven.

'There is always room to improve further and the Government will continue to work hard to make it easier to do business in New Zealand.”

Tauranga Chamber of Commerce chief exeuctive officer Stan Gregec agrees with report's findings.

'The reduction of red tape and compliance businesses face across New Zealand is great. This, coupled with our local advantages of good transport and proximity to Auckland, makes Tauranga a pretty attractive environment for doing business.”

He hopes it will lead to new business opportunities in the city.

'We have a strong market on our doorstep, but also options to export and go further afield.”

Priority One project manager Annie Hill is also thrilled with the news, particularly as it makes Tauranga more attractive to entrepreneurs.

'It's fabulous. It's a really big tick for New Zealand. I think it's likely to draw more entrepreneurs here, along with high-value businesses. This report comes at the same time as the government's launch of a global entrepreneur visa. So this will be huge marketing opportunity.”