World Bank Recognizes Costa Rica’s for Best Practices for Business Start-up

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Costa Rica was elevated of seven positions in the 2013 report on business climate by the World Bank (WB) out of 185 evaluated countries.

Costa Rica went from place 109 to 102 in the study released Monday by the Bank callede “Doing Business 2013: Understanding the regulations for small and medium enterprises”, which assesses progress towards bureaucratic advancements.

“The improvement of the country in regulatory matters for the second consecutive year, demonstrates the success of the strategy outlined by the Government with the support of various sectors and changes the trend of previous years where Costa Rica was losing competitiveness by excessive paperwork in the sector public, “said Laura Chinchilla.

The ranking assesses various facets of the WB when doing business.

Costa Rica reported the largest improvements in lowering building permits, going from place 119 last year to 82 this year.

Costa Rica also improved procedures in starting a company, which moved from position 126 to 102.

“The World Bank recognizes Costa Rica as one of the countries with best practices for starting a business,” said the president.

The Government stated that Costa Rica is expected to continue to improve in the coming years due to a series of actions carried out to increase competitiveness through a “National Strategy for Regulatory Reform”.

This initiative encompasses 17 public institutions and administrative plans, legislative and evaluation, which is reviewed monthly by the Competitiveness Council Executive, the Presidency said.

Costa Rica News Site

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