Washington, D.C., November 4, 2010—Twelve
of 20 economies in Latin America reformed business regulation to expand
opportunity for local firms in the past year, according to Doing Business
2011: Making a Difference for Entrepreneurs, the eighth in a series
of annual reports published by IFC and the World Bank.
Peru improved business regulation the most in the region, moving up 10
places in the global ranking on the overall ease of doing business, to
36 (among 183 economies). Peru was also among the world’s 10 most active
economies, improving in four of nine areas covered by the report. It created
an online one-stop shop for business registration, improving the ease of
business start-up more than any other economy. Peru also streamlined permits
for construction, introduced fast-track procedures at the land registry,
and eased trade with a new Web-based electronic data interchange system.
Economies in Latin America are improving regulation with faster, transparent,
electronic systems. For example, Nicaragua improved electronic payment
of taxes and expedited trade by migrating to an electronic data interchange
system for customs. “New technology underpins regulatory best practice
around the world,” said Sylvia Solf, lead author of the report. “Technology
makes compliance easier, less costly, and more transparent.”
Chile, the region’s runner-up regulatory reformer, moved up from 53 to
43 in the global ranking on the ease of doing business by introducing an
online system for business registration and strengthening investor protections.
Brazil eased business start-up by enhancing electronic synchronization
between federal and state tax authorities. Colombia made it simpler to
obtain permits for construction by improving the electronic verification
of prebuilding certificates.
Mexico moved up six places in the global ranking, to 35. The region’s
top-ranked economy, Mexico launched an online one-stop shop for initiating
business registration, improved construction permitting, and increased
options for online payment of taxes.
Over the past five years about 85 percent of the world’s economies have
made it easier for local firms to do business, through 1,511 improvements
to business regulation. Doing Business 2011 pioneers a new
measure showing how much business regulation has changed in 174 economies
since 2005. According to the new data, Colombia and Peru have been among
the world’s most consistent reformers of business regulation.
About the Doing Business report
Doing Business analyzes regulations that apply to an economy’s businesses
during their life cycle, including start-up and operations, trading across
borders, paying taxes, and closing a business. Doing Business does
not measure all aspects of the business environment that matter to firms
and investors. For example, it does not measure security, macroeconomic
stability, corruption, skill level, or the strength of financial systems.
Its findings have stimulated policy debates in more than 80 economies and
enabled a growing body of research on how firm-level regulation relates
to economic outcomes across economies. For more information about the Doing
Business report series, please visit: www.doingbusiness.org
About the World Bank Group
The World Bank Group is one of the world’s largest sources of funding
and knowledge for developing countries. It comprises five closely associated
institutions: the International Bank for Reconstruction and Development
(IBRD) and the International Development Association (IDA), the International
Finance Corporation (IFC); the Multilateral Investment Guarantee Agency
(MIGA); and the International Centre for Settlement of Investment Disputes
(ICSID). Each institution plays a distinct role in the mission to fight
poverty and improve living standards for people in the developing world.
For more information, please visit www.worldbank.org,
For more information about the Doing Business report series, and for region
specific press releases, please visit: www.doingbusiness.org
Contacts for region-specific queries on Doing Business 2011:
Latin America and the Caribbean
Adriana Gomez +1 (202) 458-5204
Gabriela Aguilar +1 (202) 473-6768