The Business Climate in Dominican Republic Gains Advantages

The Dominican Republic’s business climate has improved this year, with the reduction from 73 to 22 days required to form a company, according to a report by the World Bank (WB) released today in the country by the National Competitiveness Council (CNC).

According to the study “Doing Business” WB, which analyzed the regulations of business and its performance in 145 countries, the Caribbean nation went from 117 since it occupied in 2006 to 99 in 2007, which resulted move 18 seats.

One of the indicators that took into account the report of the WB was the opening of a business, which includes the number of bureaucratic and administrative procedures that need to perform a person to establish a Business in dominican republic, the CNC said.

The director of CNC, Andreas van der Horst Alvarez, noted in a press release that in 2007 the authorities continue to improve the business climate with the installation of a single window system.

This makes setting up businesses via the Internet only a matter of hours, “said the official.

“The Competitiveness Council advances in the design of this instrument, which placed us among the leaders in Latin America in this line,” added the dominican official.

In the chapter relating to the protection of foreign investment, the country increased 13 seats, from 122 to 135, according to the same report of the World Bank.

On the registration of ownership, the country was a breakthrough “substantial” having decreased from 126 to 106 since.

Source: EFECOM