Saint Vincent drops in ‘Ease of Doing Business’ ranking

The World Bank’s Doing Business Ranking 2017 report has been released, but it is not all good news for St Vincent.

The island has dropped in the global rankings from 123 to 125, out of 190 countries.

According to the report, Saint Vincent has lost in 8 categories out of 10, with the leading contributing group being “Starting a business”, which slid from 76 to 83 or 7 points downward from the 2016 ranking.

The only rank that showed upward trend was Enforcing Contracts which went from 54 to 53 or 1 point upwards.

The Table below shows more Info from all categories.

Meanwhile, it was not a good look for the Eastern Caribbean.

Except for Saint Lucia, all the other Eastern Caribbean Islands ranked over 100: Dominica (101), Antigua and Barbuda (113), Barbados (117), St. Vincent and the Grenadines (125), St. Kitts and Nevis (134) and Grenada (138).

Jamaica, the best ranked in the English-speaking Caribbean and CARICOM, is sixth overall in Latin America and the Caribbean.

According to the World Bank, “Economies are ranked on their ease of doing business, from 1–190. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

The rankings are determined by sorting the aggregate distance to frontier scores on ten topics, each consisting of several indicators, giving equal weight to each subject. The rankings for all economies are benchmarked to June 2016.”

 

Leave a Reply

Your email address will not be published. Required fields are marked *