Cape Verde rises 10 places in Doing Business ranking but Mozambique and Brazil fall

21 October 2011

Praia, Cape Verde, 21 Oct – Cape Verde saw its position rise 10 places – from 129th to 119th place – in the Doing Business annual report of the International Finance Corporation and the World Bank and remained in the “Top 12” of the countries that do most to improve the business climate.

According to Doing Business 2012, Cape Verde saw improvements in Property Registration, Obtaining Loans, Execution of Contracts and remained stable in access to Electricity and Resolution of Bankruptcy but saw drops in the categories of Opening Companies, Obtaining Licenses, protecting investors, Tax Payment and Cross-border Trade, amongst the 10 items considered.

Mozambique, however, fell from 132nd place to 139th, in this report that analyses the regulations affecting companies in 183 economies.

In Mozambique’s case, the report said that the drop in its ranking had been due to no reforms being introduced in the period since the publication of the previous report.

Brazil also saw its ranking drop, from 120th to 126th on the list, with its worst performance posted in the item relating to paying taxes in the country.

Singapore is, according to Doing Business 2012, the best place to do business in the world, followed by Hong Kong, New Zealand, the United States and Denmark, and South Korea made the top ten for the first time, by coming in eighth place.

Amongst the economies that most improved their business climates were Morocco, Moldavia, Macedonia, Sao Tome and Principe, Cape Verde, Sierra Leone, Burundi, the Solomon Islands, South Korea, Armenia and Colombia, two thirds of which are low or middle income countries. (macauhub)