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Singapore vs Hong Kong: who wins?

22 May 2014 Last updated at 03:16 BST

For the sixth year running Singapore has been nominated the best place in the world to do business, according to the Economist Intelligence Unit.

Singapore's business friendly policies, along with its stable environment and excellent infrastructure continue to keep it in the top spot.

But hot on Singapore's heels is traditional rival Hong Kong, which prides itself to being open to entrepreneurs and investors. But both states have negatives as well as positives.

The BBC's Sharanjit Leyl reports from Singapore, while Juliana Liu gives the view from Hong Kong.

Watch more reports on Asia Business Report's website.