Peru ranked 35 among the 189 countries surveyed for the latest World Bank’s “Ease of Doing Business” report, being placed in the upper fifth of the ranking, Peru’s Ministry of Finance (MEF) announced.
In addition, it was placed second among Latin American nations, just after Colombia that stood at 34, yet surpassing Chile by six positions.
MEF pointed out that the results published by the said survey show the competitiveness-enhancing measures taken by the Government are being reflected in the ranking and this trend is expected to continue in the following years.
The country is seen as a model for getting credit good practices for other economies worldwide, ranking 12 ahead of developed economies like England (17) and Germany (23).
On the other hand, the Andean nation ranked 26 in the registering property process, surpassing countries like the United States (29) and Holland (58).
These results are certainly encouraging, but Peru still faces some challenges in order to improve its business-friendly climate and become a much more attractive site for investment.
Doing Business provides one source of actionable, objective data that give useful insights into good practices worldwide.
Indeed, since 2003 governments have implemented more than 600 regulatory reforms that have been informed by Doing Business.
In addition, more than 50 economies, including Peru, have formed reform committees that use these indicators as one input to inform their programs for improving the business environment and ensure the coordination of efforts across agencies.