Following three consecutive years of decline, Jamaica has moved up four places in the latest World Bank Doing Business Report rankings.
The 2020 report was released today.
The report shows that Jamaica is ranked at 71 out of 190 countries.
That’s an improvement compared to the rank of 75 in 2019.
The World Bank report shows that Jamaica has recorded the best score of the territories in the English-speaking Caribbean which were assessed.
St. Lucia was ranked at 93, Dominica 1-hundred-and-11 and Trinidad 1-hundred-and-5.
While Antigua and Barbuda is ranked at 1-hundred-and-13 and Barbados at 1-hundred-and-28.
According to the report, Jamaica has improved its environment for starting a business but more work needs to be done in the area of trading across borders.
The report says Jamaica made starting a business less onerous by re-instating next-day service for company incorporation and streamlining internal procedures.
According to the World Bank, the starting a business process was also improved in Jamaica with the enabling of the Companies Office of Jamaica to stamp the new company’s articles of incorporation at registration.
The report says Jamaica also reduced the time for documentary compliance for importing by implementing a web-based automated system called ASYCUDA World.