Costa Rica Reduces Paperwork to Improve 2013 Business Regulations Ranking

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    The Costa Rica News (TCRN) – The government of Costa Rica today celebrates the rise of seven spots that the country earned in the 2013 report on business climate in which the World Bank (WB) evaluated 185 countries.

    Costa Rica went from 109th place to 102nd in the study released Monday by the Bank, called “Doing Business 2013: Understanding the regulations for small and medium enterprises”, assesses progress towards a reduction of the bureaucratic requirements for doing international business.

    “The improvement of the country in regulatory matters for the second consecutive year, demonstrates the success of the strategy outlined by the government with the support of various sectors and changing the trend of previous years where Costa Rica was losing competitiveness by excessive paperwork in the public sector,” said Costa Rican President, Laura Chinchilla.

    Costa Rica’s greatest reported improvement was in lowering building permits, going from 119th place last year to 82nd this year.

    Another important factor was Costa Rica improving its procedures to create a company, which moved from position 126 to 102.

    “The World Bank recognizes Costa Rica as one of the countries with the best practices for starting a business,” said the President in a statement.

    The government stated that they expect Costa Rica to continue to improve in the coming years due to a series of actions carried out to increase competitiveness through a “National Strategy for Regulatory Reform”.

    This initiative encompasses 17 public institutions and administrative plans, legislative and evaluative, which are reviewed monthly by the Competitiveness Council Executive.

    The WB report said that Singapore, Hong Kong, New Zealand, United States and Denmark remain the countries with more favorable regulations for business, while in Latin America the best positioned are Chile (34), Peru (42), and Colombia (43).

    Also are above the regional average were Mexico (53), Panama (55), Guatemala (79), and Uruguay (88), and close on the list were Honduras (127), Ecuador (135), Bolivia (162), and Venezuela (181). (EFE)

    The Costa Rica News (TCRN)

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