Andina

WBG: Peru implements reforms to improve business environment

11:09 | Lima, Oct. 31.

Peru implemented two important reforms —between 2017 and 2018— aimed at improving business environment for small and medium-sized enterprises (SMEs), World Bank Group's (WBG) Doing Business 2019: Training for Reform affirmed Wednesday.

Doing Business data focus on the 11 areas of regulation affecting small and medium-sized domestic firms in the largest business city of an economy.

The Inca country ranks 68th and stands out in the Starting a business and Dealing with construction permits spheres.  

"Peru made starting a business faster by reducing the time required to obtain the municipal license and building safety technical inspection from the district council," the report said. 

"Peru strengthened construction quality control by imposing stricter qualification requirements for professionals in charge of technical inspections," it stressed.

Good Performance 

Likewise, Peru shows good performance in other areas such as Registering Property (45th place), Getting credit (32nd), and Protecting minority investors (51st). 

In regards to registering property, it takes 7.5 days to complete a procedure in the Inca country, compared to Latin America and the Caribbean's (LAC) average of 63.3 days. 

Furthermore, Peru gets the highest score —alongside 41 economies— in the depth of credit information index, which assesses the scope and accessibility of credit information distributed by credit bureaus and credit registries. 

Lastly, concerning the protection of minority investors, Peru holds the third place among LAC countries. Said topic measures the strength of minority shareholder protections against misuse of corporate assets by directors for their personal gain as well as shareholder rights, governance safeguards, and corporate transparency requirements that reduce the risk of abuse. 

About Doing Business

The report provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional levels.

The project, launched in 2002, looks at domestic small and medium-sized companies, as well as measures the regulations applying to them through their life cycle.

(END) CNA/DTK/MVB

Published: 10/31/2018