Fewer procedures to start a business, less paperwork, less waiting time, and ease of paying taxes, exporting goods and registering properties. These are some of the indicators measured in the report Doing Business 2014, which is prepared by the World Bank and its institution for the private sector, the International Finance Corporation (IFC).
The good news this year is that at least half of Latin American countries carried out regulatory reforms to improve these indicators. Particularly noteworthy is Guatemala, which is among the 10 countries in the world that made the most reforms this year.
The Central American country created a single window to obtain building permits, modified the system for filing and paying taxes and created an online platform that allows for the simultaneous registration of a new business with all pertinent governmental agencies.
“It is an honor to be included among the top 10 reforming countries in the world, but it is also a great commitment and a responsibility, because it requires us to continue improving our business climate,” said Guatemalan President Otto Pérez Molina.
For his part, Oscar Avalle, World Bank resident representative, said that Guatemala has an excellent opportunity to take advantage of this impetus to continue with reforms to help micro, small and medium-sized enterprises generate more formal employment and to make inroads in reducing poverty.”