Jamaica is 6th Best Country To Start A Business Worldwide

Jamaica has moved up four places to the 71st position in a group of 190 countries after slipping four places in 2019. The list was published in the World Doing Business Report Rankings.

In 2018 Jamaica was ranked 70th in the rankings.

The world bank publication shows that Jamaica is still in the 6th position as in the previous year. Jamaica got an overall score of 69.7 % in the latest ranking that was released on Thursday. There was a 67.47 percent improvement.
As it relates to starting businesses, among 190 countries, Jamaica is the 6th best country as it relates to starting businesses.
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Jamaica made starting a business faster, when next-day service for company incorporation, and streamlining internal procedures was reinstated at the company’s office of Jamaica, Jamaica retained it’s sixth position which was the same as the previous year.

Jamaica’s average of 97.4 is far above the regional average for the Caribbean and Latin America which is 79.6. Puerto Rico was placed at 59 which is closest to Jamaica in the category.

Jamaica’s overall position was lowered because of its placement in the ‘trading across borders’ categories to 136th position – enforcing contracts’ -119, 136: ‘getting electricity’ -120: ‘paying taxes. The regional average in this category is 69.1.

At 124 Jamaica is placed at the top in the region and at 64.9 Jamaica is close to the regional average of 60.5. St Kitts and Nevis has an average of 64.4 which is the next best place.

As it relates to ease of getting electricity Jamaica is at 120, behind Antigua and Barbuda, Puerto Rico is ranked at 92nd, St. Kitts and Nevis 110th and Grenada at 93rd