The Doing Business 2019 report from the World Bank takes into consideration reforms made across the governments which benefit small and medium businesses and entrepreneurs, enabling job creation and stimulating private investment. “These reforms are tracked – and inspired – by the World Bank Group’s Doing Business Index ranking 190 countries on the ease of doing business within their borders”.
“Governments have the enormous task of fostering an environment where entrepreneurs and small and medium enterprises can thrive,” said World Bank Group President Jim Yong Kim. “Sound and efficient business regulations are critical for entrepreneurship and a thriving private sector. Without them, we have no chance to end extreme poverty and boost shared prosperity around the world.”
The index measures reforms in 11 areas: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, and labor market regulation.
This year New Zealand took the first place in ease of doing business, following by Singapore and Denmark, all these economies maintained their positions for a second consecutive year.
Costa Rica ranked in the position 67 of 190 economies, and took the fifth place in the Latin American region, going down one place from the previous Doing Business report.
The indicator that showed a slight difference for the worse in comparison to the previous year was “Starting a Business”, where the country ranked in position 142. Other indicators were the country continues to suffer are: “resolving insolvency” (134), “protecting minority investors” (122) and “enforcing contracts” (122).
On the other hand, the country is doing well in areas such as Getting Credit (12) and Getting Electricity (38).
According to the Ministry of Economy, Industry and Commerce the information of Doing Business ratifies the priorities they have established for this administration. “We are conscious of the need to take action and initiative to simplify processes and improve regulations, aspects on which we are working along with local governments and other related entities”, commented Victoria Hernández, Minister of Economy.
Economies that do well in Doing Business generally have a strong e-government to deliver services to citizens and firms.
“Governments have the enormous task of fostering an environment where entrepreneurs and small and medium enterprises can thrive,” said World Bank Group President Jim Yong Kim. “Sound and efficient business regulations are critical for entrepreneurship and a thriving private sector. Without them, we have no chance to end extreme poverty and boost shared prosperity around the world.”
The index measures reforms in 11 areas: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, and labor market regulation.
This year New Zealand took the first place in ease of doing business, following by Singapore and Denmark, all these economies maintained their positions for a second consecutive year.
Costa Rica ranked in the position 67 of 190 economies, and took the fifth place in the Latin American region, going down one place from the previous Doing Business report.
The indicator that showed a slight difference for the worse in comparison to the previous year was “Starting a Business”, where the country ranked in position 142. Other indicators were the country continues to suffer are: “resolving insolvency” (134), “protecting minority investors” (122) and “enforcing contracts” (122).
On the other hand, the country is doing well in areas such as Getting Credit (12) and Getting Electricity (38).
According to the Ministry of Economy, Industry and Commerce the information of Doing Business ratifies the priorities they have established for this administration. “We are conscious of the need to take action and initiative to simplify processes and improve regulations, aspects on which we are working along with local governments and other related entities”, commented Victoria Hernández, Minister of Economy.
Economies that do well in Doing Business generally have a strong e-government to deliver services to citizens and firms.
