The facilities received by the business sector for their development speak volumes about a country's economy. Aware of the importance of this factor in the planet's economic momentum, the World Bank gathers data from quantitative indicators that measure business regulations and the protection of property rights in 190 countries over a period of time. In this way, the global institution offers valuable information to evaluate the economic performance of each nation and to promote growth by taking measures to address the weaknesses of the systems.
The sixteenth edition of Doing Business
Training to Reform places special emphasis on 11 areas of the business life cycle, 10 of which are considered in this year's ease of doing business rankings: starting a business, handling construction permits, obtaining electricity, registering property, obtaining credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
Through the identification and study of these indicators it is possible to analyze the economic results and visualize which business regulatory reforms have worked, in which countries and why they have been implemented. In this regard, 128 economies introduced substantial regulatory improvements that facilitate activity in all areas measured by the report.
In this edition, the economies where substantial improvements were observed were Afghanistan, Djibouti, China, Azerbaijan, India, Togo, Kenya, Côte d'Ivoire, Turkey and Rwanda. No Latin American country was singled out among these leading economies, while sub-Saharan African economies accounted for one-third of all reforms observed by Doing Business.
It is worth noting that the top 10 economies in terms of ease of doing business share the following characteristics:
Regulatory efficiency and quality (including mandatory inspections during construction), automated systems used by companies to establish service during power outages, strong safeguards available to creditors in insolvency proceedings, and specialized commercial courts. This makes it clear that the empowerment of service providers and users is linked to the ease of doing business.
In the case of VenezuelaThe ease of doing business was calculated at 188 in a range between 1 and 190, with 1 being the figure that represents the greatest ease of doing business. One of the lawyers of the law firm Alan Aldana & Abogados, Bianca Marán, contributed to the collection of the information.
