Colombia is the 3rd best country in Latin America for doing business, according to a World Bank report presented on Monday.
Latin America’s top countries for doing business
The South American country occupied the 44th position in the World Bank’s annual global Doing Business ranking.
The only Latin American countries that are better than Colombia for doing business are Chile and Peru, said the report.
The worst Latin American country for business is Venezuela.
The World Bank calculates the favorability of a country’s business climate by measuring regulation imposed on small and medium-sized businesses, access to credit and the complexity of a country’s tax system.
The best country in the world for doing business is the Asian city-state Singapore. The worst of the 189 states included in the ranking is the African republic of Chad.
- Doing Business 2014 (PDF / World Bank)