Business in Mexico simplified
When referring to business in Mexico, the country’s achievements are worth mentioning. A study on the 2016 edition of the Doing Business ranking (World Bank) ranked 189 countries based on the simplicity of doing business with them, and Mexico was ranked 38. Singapore was the Asian country that obtained first place.
In the year 2013, Mexico was ranked number 53; in 2014 it climbed to number 43; later in 2015 it moved to position 42 and finally in 2016 it reached the best position in relation to previous years on the overall simplicity of doing business according to the World Bank.
This accomplishment was achieved due to modifications in the offering of tangible guarantees based on moveable assets and the Financial Reform which allowed for improvements on credit and made paying taxes easier after the elimination of the Impuesto Especial de Tasa Única (IETU, Special Single-Rate Tax).
In Latin America, Mexico holds the first place, followed by Peru, Colombia, Puerto Rico and Costa Rica. Uruguay obtained the 13th place in the regional ranking, while Brazil trailed in the 20th position.
Undoubtedly, these results reflect the work done in the previous years and will provide for a significant improvement in the business area. Foreign companies are sure to have better confidence when offering their products and services in a country with high population and rich in raw materials.
Mexico obtains the 38th place out of 189 countries in the ranking of simplicity of doing business.
For more information, visit: Doing Business.
Based on information from: CNN Expansión.