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Nicaragua among top performers in World Bank's 2012

The World Bank, in its recently published 2012 Doing Business report, recognizes Nicaragua as one of the 30 countries that presented major reforms this year and showed important advances in categories that are critical in the development of new businesses. According to the report, whose goal is to provide an objective basis for understanding and improving the regulatory environment for business in 183 economies around the world, Nicaragua improved four spots and ranked in the 118th position, an improvement from the 122nd position achieved in the 2011 report.

The report indicates that Nicaragua experienced an improvement in five of the ten categories included in this year's report: Registering Property, Paying Taxes, Trading Across Borders, Enforcing Contracts and Resolving Insolvency. These improvements include leaps of up to 29 and 30 positions in the categories of Registering Property and Enforcing Contracts, respectively.

This is the second consecutive year in which Nicaragua has shown improvements in the report's positioning, which comes to show the positive impact of the country's various efforts to improve its investment climate.

At a regional level, Nicaragua outranked the rest of the Central American countries in the categories of Protecting Investors, Enforcing Contracts and Resolving Insolvency. This is an important result as it demonstrates the country offers higher levels of security for investment than other countries in the region.

The Government of Nicaragua, through the recently created Presidential Delegation for Investment Promotion and Foreign Trade Facilitation, has been working closely with the World Bank's Doing Business Group in order to develop and implement a series of initiatives aimed at improving the country's performance in the report's various indicators. Several reforms proposed by World Bank representatives have been discussed with members of Nicaragua's public and private sector and will begin to be implemented in this coming year.

The Doing Business report constitutes a key reference tool for investors when assessing potential destinations in which to invest or do business by providing objective and comprehensive information on a country's business climate.

by S. C.
19 november 2011, World News > America

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