Business

Jamaica tops Caribbean in Forbes Magazine global report on doing business

Saturday, December 30, 2017

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BRIDGETOWN, Barbados (CMC) – Jamaica is the highest ranked Caribbean Community country, while the French-speaking island of Haiti is ranked among the worst three countries in the world for doing business, according to the US-based Forbes Magazine .

In its 12th edition of the annual report “Best Countries for Business”, Forbes Magazine has named the United Kingdom as the top of the 153 countries surveyed.

The magazine determines the Best Countries for Business by rating 153 nations on 15 different factors including property rights, innovation, taxes, technology, corruption, infrastructure, market size, political risk, quality of life, workforce, freedom, red tape and investor protection.

It said the data is based on published reports from several reputable organisations, including the United Nations, Transparency International, World Bank Group and World Economic Forum.

According to Forbes, Jamaica was ranked at number 72, followed by Trinidad and Tobago at 75 and Belize at 111.

Guyana was listed at 113 with Suriname at 135 and Haiti at 151.

The magazine said Haiti is the worst performer among non-African countries, after indicating that African nations populate the worst countries for business with six of the bottom 10.

Most of these countries fare poorly on innovation, trade freedom and investor protection, it noted.

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