Today, the World Bank published the "Doing Business 2016" report, which evaluates the performance of 189 economies with regard to ease for doing business. In this edition, Mexico moved four places in the overall ranking, going from position 42 to 38 in the last year.
Mexico is ranked as the country with the highest position in Latin America, surpassing Chile (48), Peru (50), Colombia (54), Costa Rica (58), Brazil (116) and Argentina (121). Mexico also outperformed the economies from large emerging markets of the G20, including China (84), Turkey (55), South Africa (73) and Russia (51), and several countries from the EU, such as Belgium (43) Italy (45) and Luxembourg (61). Moreover, the economy number one in the ranking was Singapore, followed by New Zealand, Denmark, South Korea and Hong Kong.
The report highlights reforms undertaken in the country which they were fundamental in strengthening the ease of doing business. In particular, it is noted that the indicator on the ease of obtaining credit improved through modifications in offering security interests (Commercial Miscellany). Other measures relating to financial reform approved in 2014, particularly the modernization of the mechanisms for resolving companies that go bankrupt, are also recognized. In addition, the Report notes that the ease of tax payment improved as a result of the elimination of the special flat tax (IETU, by its initials in Spanish).
The Doing Business report is composed of 10 indicators that assess the laws and regulations of federal and local governments that affect the business environment, particularly in small and medium-sized enterprises. The analysis is done from standardized cases.
The report has undergone a process of significant adjustments to its methodology. In this latest edition, incorporated indices concerning regulatory quality in indicators such as obtaining building permits, obtaining electricity, registering property and enforcing contracts, in addition to adjustments to the methodology of the indicator of cross-border trade.