Jamaica Tops Caribbean Nations in Forbes Business Report

The Minister of Industry, Investment and Commerce, Hon. G. Anthony Hylton, has welcomed Jamaica’s ranking in the 2014 Forbes Best Countries for Business Report. The report which ranked Jamaica 64 out of 146 nations is published yearly by Forbes, a leading international business magazine. The report highlighted Jamaica as the best country in the Caribbean region to do business and 3rd in Latin America and the Caribbean.

Forbes determined the Best Countries for Business by grading 146 nations on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance. Each category was equally weighted. The report was compiled using published reports, including the World Bank’s Doing Business Report and the World Economic Forum’s Global Competitiveness Report.

Minister Hylton while commenting on the positive news stated, “I welcome this report as further evidence that Jamaica is taking the necessary steps to improve our business environment. This latest report will go a long way in repositioning Jamaica in the investor community and ensure that Jamaica comes to mind as one of the top places to invest, not just in the Caribbean and Latin America, but in the world. I look forward to even greater improvements in our 2015 international rankings”.

The report ranked Trinidad and Tobago 71, Barbados 73, Dominica Republic 86 and Guyana 96. Costa Rica 57 and Mexico 61 ranked higher than Jamaica in the Latin American region.