The World Bank considers Mexico, to offer the best business climate in Latin America: 32 reforms adopted last year by 22 countries in Latin America and the Caribbean to improve the business climate outperformed 24 from the previous period, according to the report, “Doing Business 2017: Equality opportunities for All “.
In its annual report “Doing Business 2017: Equal Opportunities for All”, the World Bank evaluated 190 economies and confirmed Mexico as the highest ranked nation in the region (47th), followed by Colombia (53) and Peru (54). Overall Mexico rose to 39th place out of 190 global economies in the World Bank Doing Business report.
The 32 reforms adopted last year by 22 countries in Latin America and the Caribbean to improve the business climate surpassed 24 registered during the previous period, said Tuesday the World Bank.
Doing Business 2017: Equal Opportunities for All, a World Bank Group flagship publication, is the 14th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it.Doing Businesspresents quantitative indicators on business regulations and the protection of property rights.
The World Bank concluded that starting a business in Latin America now takes an average of 32 days compared with 55 days five years ago.
“Continuing to remove obstacles is essential to the economies of the region in order to improve its business climate,” said Augusto Lopez-Claros, Director of Global Indicators Group of the World Bank.
The report said that most of the reforms last year occurred in the area of taxes, followed by cross-border trade and business start ups.
New Zealand ranked first in the overall assessment, followed by Singapore, Denmark, Hong Kong, South Korea, Norway, United Kingdom, United States, Sweden and Macedonia.
By Elliot Bullman for Mexico news Network
