NewsWhore
11-17-2008, 02:30 PM
The Dominican Republic has been named this year's top small-island reformer in the "Doing Business in Small Island Developing States 2009" report published by the International Finance Corporation (IFC) and the World Bank. The Dominican Republic is, nevertheless, ranked 97th worldwide in the ease of doing business, meaning there is still lots of work to be done.
The Doing Business project ranks economies based on 10 indicators of business regulation that record the time and cost of meeting government requirements in starting and operating a business, trading across borders, paying taxes and closing a business. The rankings do not reflect areas such as macroeconomic policy, quality of infrastructure, currency volatility, investor perceptions or crime rates.
The report on small island states, in its second edition, focuses on some of the world's small island states that are creating more opportunity for local business through regulatory reforms that help boost competitiveness and set standards worldwide for good practice.
The report finds that Singapore is the easiest place in the world to do business, while Mauritius, St. Lucia and Fiji are leading the way in Africa, the Caribbean and the Pacific, respectively. The DR was voted the year's top small-island reformer as well as a top-10 reformer globally.
The author of the report, Svetlana Bagaudinova, said, "Better business regulations give firms more opportunities to grow and create jobs, which is critical for small island states that have to overcome challenges posed by size and distance. Being small can even be an advantage because reform can happen faster and deliver results sooner."
Mauritius, a small state, which ranks 24th on the ease of doing business globally, is an example of how a sustained, high-level commitment to reform can transform the business environment and deliver results. Over the past two years, Mauritius has enjoyed a steady increase in the annual growth rate, from 2.2 percent in 2005 to 5.4 percent in 2007. Also, unemployment has dropped from 9.6 percent in 2005 to 8.5 percent in 2007.
For more about the report, visit www.doingbusiness.org/features/smallislands2009.aspx (http://www.doingbusiness.org/features/smallislands2009.aspx)
More... (http://www.dr1.com/index.html#2)
The Doing Business project ranks economies based on 10 indicators of business regulation that record the time and cost of meeting government requirements in starting and operating a business, trading across borders, paying taxes and closing a business. The rankings do not reflect areas such as macroeconomic policy, quality of infrastructure, currency volatility, investor perceptions or crime rates.
The report on small island states, in its second edition, focuses on some of the world's small island states that are creating more opportunity for local business through regulatory reforms that help boost competitiveness and set standards worldwide for good practice.
The report finds that Singapore is the easiest place in the world to do business, while Mauritius, St. Lucia and Fiji are leading the way in Africa, the Caribbean and the Pacific, respectively. The DR was voted the year's top small-island reformer as well as a top-10 reformer globally.
The author of the report, Svetlana Bagaudinova, said, "Better business regulations give firms more opportunities to grow and create jobs, which is critical for small island states that have to overcome challenges posed by size and distance. Being small can even be an advantage because reform can happen faster and deliver results sooner."
Mauritius, a small state, which ranks 24th on the ease of doing business globally, is an example of how a sustained, high-level commitment to reform can transform the business environment and deliver results. Over the past two years, Mauritius has enjoyed a steady increase in the annual growth rate, from 2.2 percent in 2005 to 5.4 percent in 2007. Also, unemployment has dropped from 9.6 percent in 2005 to 8.5 percent in 2007.
For more about the report, visit www.doingbusiness.org/features/smallislands2009.aspx (http://www.doingbusiness.org/features/smallislands2009.aspx)
More... (http://www.dr1.com/index.html#2)