Saturday 19 June 2021

Colombia Latin America’s Best Country for Doing Business

 world_bank

TODAY COLOMBIA — Colombia is the best country in Latin America for doing business, the World Bank said Wednesday in its annual Doing Business report.

Globally, Colombia ranked 34 on a list of 198 economies, nine places higher than last year’s ranking.

[su_pullquote class=”H2″]Latin America Doing Business index”

  1. Colombia
  2. Peru
  3. Mexico
  4. Chile
  5. Panama[/su_pullquote]The country outperformed Latin American American countries Chile and Peru that least year ranked higher.
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The World Bank praised the country’s improvements in legislation to regulates taxes, credit and property registration.

Particularly a 2013 law that allowed companies to use other property than real estate as collateral for loans was one of the reasons the country rose in the ranking, claimed Finance Minister Mauricio Cardenas.

“Companies can now use machinery, equipment, inventory or labor capital as guarantee for credit and do not only depend on real estate property,” said the minister in a press release celebrating the World Bank’s recognition.

The world’s leading economies for doing business are Singapore, New Zealand and Hong Kong.

Sources

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Article first appeared first on Colombia News | Today Colombia Reports.

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FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

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"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

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