In the latest issue of the Doing Business Report published by the World Bank Group, Grenada fell from 107 to 126 while Jamaica moved from 94 to 58 out of 189 global economies.
The 2015 Doing Business Report found that Grenada’s registering of properxacty rank was 128 while enforcing contracts stood at 144 and resolving insolvency was 189 the distance to the frontier (DTF) score 57 out of 100.
The DTF score aids in assessing the absolute level of regulatory performance and how it improves over time in relation to the best performer in that category.
While it acknowledged that Jamaica’s distance to the frontier (DTF) score went up from 62.2 last year to 67.79 this year.
Grenada scored poorly in all categories. Paying taxes 106, getting credit 131, protecting minority interests 141 and getting electricity 77.
The report noted no significant measures embarked upon by Grenada during the review period in an attempt to improve its position.
The report noted that overall Jamaica is almost 10 per cent closer than last year to global best practices in business regulation.
Jamaica made starting a business easier by consolidating business registration forms and reducing the number of steps to register a business and has made it cheaper to connect to electricity.
Jamaica also improved access to credit information by operationalizing credit bureaus, strengthened access to credit and established a modern and unified notice-based collateral registry.