by 11.3 per cent across all areas of the initiative, including starting a business, getting credit or applying for permits. For example, APEC has expedited the time it takes for a company to build a new factory or office building. Today, construction permits are issued at a faster pace, dropping 18.7 per cent from 169 days to 134 days in the last four years with APEC topping the charts globally for the shortest permit time. Starting a company in the Asia-Pacific is also simpler with the number of procedures falling by 20.2 per cent since 2009.A further 5 per cent decrease was achieved between 2007 and 2010, which saved businesses in the Asia-Pacific a total of USD 58.7 billion. Over time, the APEC agenda has broadened its focus to address behind-the-border barriers such as improving regulatory practices and the local business climate.