Published On: Thu, Oct 30th, 2014

Mexico: one of the five easiest countries to start a business in Latin America

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Mexico climbed from the 43rd to the 39th spot in “ease of doing business” ranking.

In Mexico opening a business takes 6.3 days, six procedures and costs 18.6% of the per capita income.

Mexico’s reforms helped the country climb four sports in the World Bank’s Ease of Doing Business ranking, from the 43rd to the 39th position.

According to the report, entitled “Doing Business 2015: Going Beyond Efficiency“, Mexico is one of the five easiest countries to open a business in Latin America, along with Colombia, Peru, Chile and Puerto Rico.

In Mexico, opening a business takes 6.3 days, six procedures and costs 18.6% of the per capita income.

mexico-manufacturing

The report added that “Mexico improved access to credit by amending its insolvency proceedings law and establishing clear grounds for relief from a stay of enforcement actions by secured creditors during reorganization proceedings. And it made resolving insolvency easier by shortening the time extensions during reorganization proceedings and facilitating electronic submission of documents.”

It also said that “Mexico shortened the time extensions allowed during reorganization proceedings and made it easier to submit documents electronically.”

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However, Mexico was not ranked as good in getting electricity (116); registering property (110), dealing with construction permits (108), paying taxes (105) and starting a businesses (67).

Mexico obtained its best grades in getting credit (12), resolving insolvency (27), trading across borders (44), enforcing contracts (57) and protecting minority investors (62).

Mexico was ranked 39th, below Colombia (34th) and Peru (35th), but well above Brazil, which ranked 120th among the 189 nations analyzed.

 

Source: http://www.eluniversal.com.mx/

Mexico Travel Care

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