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WEForum: Corruption is most problematic factor for doing business in DR

The country profile for the Dominican Republic in the World Economic Forum Global Competitiveness Report shows corruption (18.8) is the most problematic factor for doing business in the Dominican Republic. Next follows tax rates (16.4), inefficient government bureaucracy (12), and inadequately educated workforce (11.8), access to financing (8), tax regulations (7), and crime and theft (7).

The Dominican Republic is ranked 92nd of 138 countries included in the report. The country improved its position from 96th of 140 countries in the previous report for 2015-2016.

The Dominican Republic did poorly in regards to its institutions – ranked 123rd of 138 countries. The ranking was weighed down by poor performances in diversion of public funds (133), public trust in politicians (130), irregular payments and bribes (112), judicial independence (127), favoritism in decisions of government officials (128), wastefulness of government spending (111), burden of government regulation (110), efficiency of legal framework in settling disputes (112), efficiency of legal framework in challenging regs (127), business costs of crime and violence (122), reliability of police services (133), ethical behavior of firms (130).

The DR scored best in business costs of terrorism (36), strength of auditing and reporting standards (67), quality of roads (54), quality of port infrastructure (46), quality of air transport infrastructure (50), available airline seat kilometers (51), government budget balance (16), inflation (1), government debt in regards to GDP (31).

Other categories where the DR did above average were: intensity of local competition (21), prevalence of foreign ownership (41), business impact of rules on FDI (42), flexibility of wage determination (44), financial services meeting business needs (56), regulation of securities exchanges (53), soundness of banks (42), FDI and technology transfer (41), extent of marketing (37).

Source: 3weforum.org

Aug 18, 2017

Category: DR News |

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Last updated November 19, 2017 at 12:49 AM
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