13/01/10 - Cape Verde rises one place on the 2010 Doing Business list
The Doing Business report is prepared by the International Finance Corporation of the World Bank, and considers ten criteria for each country. In 2009 it ranked Cape Verde 147th, but in 2010 it has risen to the 146th place.
In the “company opening” criterion, Cape Verde made significant progress, jumping from 164th place to 136th. It takes an average of 24 days to open a business in the country, as the initiative must comply with nine different procedures.
Cape Verde is nevertheless ahead of its own region - Sub-Saharan Africa - where the average waiting time is 45 days, though it is still far from the OECD average of 13.
The island country continues its positive performance regarding contract compliance. It is ranked 30th in the world in the index marking respect for signed obligations, having risen two places with respect to the 2009 report.
Regarding credit access, the 2010 Doing Business report places the country in the 150th position, a sharp drop of 19 places over the 2009 ranking.
In the Portuguese-speaking world Portugal is the best classified, ranked 48th overall, the same as in 2009. It is followed by Brazil (position 129 in 2010, 127 in 2009), Mozambique (135/140), East Timor (164/173), Angola (169/170), Sao Tome and Principe (180/180) and Guinea-Bissau (181/181).
(macauhub)