Latest update May 13th, 2024 12:59 AM
Mar 14, 2010 News
– says Global Report
The 2009 to 2010 Global Competitiveness report has found that the most problematic factor for doing business in Guyana is the tax rate which ranks 118 out of the 133 countries surveyed.
This was followed closely by crime and corruption.
The other factors identified in the latest report include poor work ethics in public service, access to financing, inadequately educated workforce, tax regulations, and inefficient government bureaucracy among others.
Guyana did generally perform better in the latest report ranking 104 out of 133 countries in the annual report released by the World Economic Forum.
Last year, the country had placed 115 out of 134 countries while in the 2007-2008 report it recorded a ranking of 126 out of 131.
The local banking system has been credited among some of the best in the world ranking 46 out of the 133 countries surveyed.
On the issue of the public’s trust in local politicians, favoritism of decisions of government officials, the independence of the judiciary and the reliability of police services, the country scored relatively poor.
On the second pillar of competitiveness, namely infrastructure Guyana ranked 92.
The quality of port and air transport infrastructure as well as electricity supply also did not fare well in the report.
The best ranking Guyana received was on expenditure on education where the country placed third among the 133 countries.
The GCI listing is based on individual countries’ performance which is measured using 12 pillars as well as looking at the impact on business related issues such as crime, corruption, taxation, bureaucracy, inflation and stability among others.
The top ten ranked countries according to the report are Switzerland, the United States of America, Singapore, Sweden, Denmark, Finland, Germany, Japan, Canada and the Netherlands.
Listen how to run an oil country
May 13, 2024
GCB T10 Blast Semi-finals… Kaieteur Sports – The semi-finals of the GCB T10 Blast will get underway today, barring inclement weather as the final four teams look to book spots in the...Kaieteur News – The PPP is engaging in myth-making in seeking to perpetuate the narrative that it is now an ideologically... more
By Sir Ronald Sanders Is it ever justifiable for journalism to fan the flames of geopolitical tension? This question arises... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]