According to Sandra Gonzalez, director of the Business Team at the Dominican Republic Ministry of Economy, Planning and Development, the country is being included in an analysis by the World Bank to measure doing business regulations in six regional Central American countries, including the Dominican Republic.
Gonzalez said that the study examines the complexity and cost of regulatory processes, including starting a business, dealing with construction permits, getting electricity, registering property, paying taxes, and trading across borders.
The project is called “Doing Business in Central America and the Dominican Republic” and the researchers will be visiting the cities of Santo Domingo, Santiago, Higuey, Dajabon and the ports of Caucedo and Puerto Plata.
The team will then travel on to Nicaragua, Honduras, Guatemala, Costa Rica, Panama and El Salvador to conduct similar research, before issuing their report in October.
These reports, which have produced since 2005, have measured 292 reforms in more than 355 cities in 55 types of small and medium-sized businesses in seven Central American countries and the Dominican Republic.
The findings are used to identify good practice and the report also contains recommendations for reforms.