Business and Regulatory Environment

Description

The World Bank Doing Business Report (2013) ranked Surinam as 161st out of 189 economies, which is significantly below the average of Latin America and Caribbean countries ranked at 100th. Surinam performs comparably well in getting electricity and dealing with construction permits, while it needs to improve in areas of protecting investor, enforcing contracts, and starting a business. There is no discrimination specifically targeted at foreign investors including through special tax treatment, access to licenses, and approvals or procurement, however, these non-discriminatory policies tend to help little either national or foreign investors due to the poor regulation of businesses. They are affected by bureaucratic procedures, including those for licenses and permits, which are neither streamlined nor transparent. In addition, state-owned enterprises (SOEs) are dominant in sectors including oil, electricity and gas supply, water, bananas, and rice. They have an advantage in acquiring resources such as land and finance under the government’s favouritism and lack of transparency. However, Suriname is pursuing improvements in the business environment by taking reforms such as reducing the time required to obtain the president’s approval for the registration of a new company and increasing administrative efficiency at the land registry.

The Business Environment: Doing Business

Multilateral Trade Instruments

Abstract


The Trade Treaties Map tool is a web-based system on multilateral trade treaties and instruments designed to assist trade support institutions (TSIs) and policymakers in optimizing their country's legal framework on international trade

Instrument ratified :
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Weighted score : /100
    Ratification Rate Rank Weighted Score Rank
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