Guyana has dropped two places in the World Bank’s latest rankings for the ease of doing business, moving down to 126 from a rank of 124 last year.
The World Bank’s “Doing Business 2018-Reforming to create jobs” report compares business regulations for domestic firms in 190 economies. It measures aspects of business regulations and their implications for firm establishment and operations and focuses on key areas of interaction between the government and entrepreneurs, where policy makers and regulators can directly influence procedures to facilitate these interactions.
Specifically, the report measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labour market regulation. These 11 indicator sets are said to capture the effectiveness and quality of doing business.
