Avia Collinder, Business Reporter Published: Wednesday | October 29, 2014
Jamaica has achieved the Caribbean region's highest ranking on the ease of doing business, and has jumped 36 places to 58 among 189 economies worldwide, according to the just-released Doing Business 2015 report.
However, the island has received a rap on the knuckles for the slow place of developing electronic interfaces that accompany its extensive reforms and for higher taxation costs.
Doing Business is produced annually by the World Bank, and is usually dated the year ahead of its actual release.
The 2015 report tracks performance from June 2, 2013 to June 1, 2014.
The new report indicates that six of 12 economies in the Caribbean - The Bahamas, the Dominican Republic, Jamaica, St Kitts-Nevis, St Lucia, and Trinidad & Tobago - implemented at least one regulatory reform making it easier to do business in the year of review.
Overall, they implemented 12 reforms, a historic high for the region.
The World Bank noted reforms for Jamaica in the areas of starting a business, getting electricity connections, getting credit, and paying taxes.
An improved assessment of business-friendliness was widely expected for Jamaica, given its ongoing economic reforms agreed with the International Monetary Fund (IMF) programme - under which gains have been praised both by the IMF's technical team as well as head of the agency, Managing Director Christine Lagarde. more
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