Doing Business in Org. of Eastern Caribbean States 2007
Author: Subnational Doing Business
Doing Business 2007: Organization of Eastern Caribbean States draws on data from the global Doing Business project and database, as well as the findings of Doing Business 2007. The annual series analyzed government regulations that enhanced business activity and those that constrained it in 175 economies, including 6 independent member states of the Organization of Eastern Caribbean States (OECS): Antigua and Barbuda, the Commonwealth of Dominica, Grenada, the Federation of St. Christopher (St. Kitts) and Nevis, St. Lucia, and St. Vincent and the Grenadines.
- The report ranked St. Lucia first in the OECS on the overall ease of doing business, followed by Antigua and Barbuda. St. Vincent and the Grenadines, Dominica, Grenada and St. Kitts and Nevis ranked 3rd, 4th, 5th and 6th, respectively.
- All OECS countries fell in the top half of the 175 economies included in the global Doing Business 2007 report, but there were important differences in their performance. St. Lucia ranked 27th, while St. Kitts and Nevis took the 85th spot.
- OECS countries have harmonized several areas of business regulations—such as business start-up, legal rights of borrowers and lenders, bankruptcy procedures and contract enforcement. Yet, differences arose in how harmonized legislation was implemented in each jurisdiction. For example, despite the similar companies act, starting a business in St. Vincent and the Grenadines took 12 days, compared to 57 days in Grenada.