The Doing Business report, which measures the world’s business climate, noted that Honduras advanced five positions in the 2016 report over last year, according to the World Bank’s annual publication.
Also highlighted in the report is that Honduras is the global leader in the area of protection of minority investors
Honduras was included in the World Bank report that improved most in the business environment, along with Costa Rica, Uganda, Kenya, Benin, Jamaica, Uzbekistan, Senegal, Mauritania and Cyprus.
The Doing Business 2016 was focused on the theme Measuring quality and regulatory efficiency, according to the global report released by the World Bank.
Honduras had the 115th position in the 2015 report, while the one released over the weekend for 2016 places it 110th with a five-point lead. At the global level, the ranking is headed by Singapore in position 1, while in Latin America, Mexico is in 38th place and Costa Rica in region 58.
Also, the report highlights that Honduras made the 2016 buna reform to improve the business climate, one of the bases that allow to climb in the world ranking.
The report by the World Bank and its partners in the World Bank Group notes that “Globally, Honduras was the economy that improved the most in the area of protection of minority investors by requiring greater disclosure of related operations; Prohibit the vote of interested parties; And allow minority shareholders to file a direct action for damages and give them the right to inspect company documents. “
The Latin American economies with the lowest ranking at the global level are Venezuela in 186, Haiti in 182 and Bolivia in 157. In total, 189 nations were evaluated worldwide.
The above places Honduras as one of the best countries to invest in Latin America, along with Costa Rica, Mexico, Chile, Peru, Colombia, Panama, Guatemala, Paraguay and the Dominican Republic. In addition to Singapore, the New Zealand (2), Denmark (3), South Korea (4) and Hong Kong (5) lead the ranking.
The indicators used for the ranking are the ease of obtaining construction permits, access to electricity, ways to register a property, how to protect the small investor, taxes that are charged to companies and others.
The government of Honduran President Juan Orlando Hernández has promoted reforms to improve the business environment, which has allowed progress in the Doing Business ranking, as well as the Global Competitiveness report published by the World Economic Forum in Davos.
Simultaneously, the government stabilized public finances and reached an agreement with the International Monetary Fund (IMF) that allowed the improvement of the country risk and with that the improvement of ratings by rating agencies such as Standard & Poor’s and Moody’s , Achieving greater accessibility to the global debt markets.