08:42 | Washington D.C., Oct. 28.
Peru (50th) is the third best country in Latin America to do business after Mexico (38th) and Chile (48th), and is four positions higher than Colombia (54th), says the World Bank Group’s annual ease of doing business measurement.
The newest report Doing Business 2016: Measuring Regulatory Quality and Efficiency refers to two Peruvian reforms making it easier to do business: Getting Credit and Paying Taxes. The former explains Peru has improved its credit information system by implementing a new law on personal data protection.
The latter, on the other hand, refers to the country’s ability to make paying taxes easier for companies by creating an advanced online registry with up-to-date information on employees.
In the light of the 2013 report of the Independent Panel on Doing Business, chaired by Trevor Manuel, it was decided that two years would be used to revise and improve the measurement of the ease of doing business in different economies.
This year’s report introduces new measures of regulatory quality in the indicator sets on dealing with construction permits, getting electricity, registering property and enforcing contracts.
In addition, the methodology for the trading across borders indicators has been revamped to increase their relevance.
The changes in the methodology make it possible to fully compare data for this year and last, mainly that of the global index and ranking positions.
These methodological improvements now reflect regulatory areas in which Peru is doing well at a global level, including, among others, Dealing with Construction Permits. Peru is doing a good job in quality control before, during and after construction.
Peru has also reported relatively good practices in terms of Getting Credit, ranking 15th and even coming ahead of developed economies like the United Kingdom (19th) and Germany (28th), as well as in Registering Property, taking 35th place above developed economies such as Japan (48th) and France (85th).