Panama - Ease Of Doing Business Index (1=most Business-friendly Regulations)

Ease of doing business index (1=most business-friendly regulations) in Panama was reported at 86 in 2019, according to the World Bank collection of development indicators, compiled from officially recognized sources.



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panama ease of doing business index 1 most business friendly regulations wb data


Ease of doing business index ranks economies from 1 to 181, with first place being the best. A high ranking means that the regulatory environment is conducive to business operation. The index ranks the simple average of the country's percentile rankings on 10 topics covered in Doing Business 2007: How to reform. The ranking on each topic is the simple average of the percentile rankings on its component indicators.


Panama | Private Sector

Distance to frontier score (0=lowest performance to 100=frontier)
66.56
Business extent of disclosure index (0=less disclosure to 10=more disclosure)
4
Ease of doing business index (1=most business-friendly regulations)
86
New businesses registered
2204
Cost to build a warehouse (% of income per capita)
2 %
Cost to enforce a contract (% of claim)
38 %
Power outages in firms in a typical month
0.6
Firing cost (weeks of wages)
440
Bribery incidence (% of firms experiencing at least one bribe payment request)
7.1 %
Firms competing against unregistered firms (% of firms)
51.4 %
Bribery index (% of gift or informal payment requests during public transactions)
6.7 %
Informal payments to public officials (% of firms)
30.5 %
Losses due to theft, robbery, vandalism, and arson (% sales)
5.6 %
Percent of firms paying for security
36.3 %
Security costs (% of annual sales)
1.1 %
If the establishment pays for security, average security costs (% of annual sales)
4.4 %
Losses due to theft and vandalism against the firm (% of annual sales)
0.3 %
If there were losses, average losses due to theft and vandalism (% of annual sales)
5.6 %
Products shipped to supply domestic markets that were lost due to theft (% of product value)
0.5 %
Time required to obtain an operating license (days)
66.3 days
Age of the establishment (years)
16.4 years
Proportion of private domestic ownership in a firm
85.2 %
Proportion of private foreign ownership in a firm
14.4 %
Proportion of government/state ownership in a firm
0.1 %
Proportion of a firm held by the largest owner(s)
84.5 %
Firms with female top manager (% of firms)
23.5 %
Firms with female participation in ownership (% of firms)
24.7 %
Value of collateral needed for a loan (% of the loan amount) WB
240 %
Proportion of loans requiring collateral
67.9 %
Percent of firms not needing a loan
59.1 %
Proportion of working capital financed by banks
3.2 %
Proportion of working capital financed by supplier credit
2.3 %
Firms formally registered when operations started (% of firms)
99.7 %
Proportion of permanent full-time workers that are female
41.9 %
Proportion of permanent full-time non-production workers that are female
44.2 %
Percent of firms competing against unregistered or informal firms
51.4 %
Percent of firms formally registered when they started operations in the country
99.7 %
Number of years firm operated without formal registration
0
Days to obtain an electrical connection (upon application)
1.8
Proportion of electricity from a generator
10.3 %
If a generator is used, average proportion of electricity from a generator
90.7 %
Proportion of products lost to breakage or spoilage during shipping to domestic markets
0.1 %
Number of electrical outages in a typical month
0.6
Duration of a typical electrical outage (hours)
0.3 hours
If there were outages, average duration of a typical electrical outage (hours)
1.2 hours
Losses due to electrical outages (% of annual sales)
0.1 %
Percent of firms owning or sharing a generator
12.9 %
Capacity utilization
78.2 %
Percent of firms having their own Web site
40.5 %
ISO certification ownership (% of firms)
22.5 %
Days to obtain an operating license
66.3
Days to obtain a construction-related permit
25.1
Senior management time spent dealing with the requirements of government regulation
33.3 %
Number of visits or required meetings with tax officials
0.8
If there were visits, average number of visits or required meetings with tax officials
2.1
Days of inventory of main input
8.3
Firms offering formal training (% of firms)
11 %
Percent of firms offering formal training
11 %
Number of temporary workers
1.1
Proportion of unskilled workers (out of all production workers)
19.6 %
Proportion of workers offered formal training
67.6 %
Years of the top manager's experience working in the firm's sector
11.2
Cost to get electricity(% of income per capita)
8.9 %
Procedures required to connect to electricity
5
Management time dealing with officials (% of management time)
33.3 %
Resolving insolvency: cost (% of estate)
25 %
Time to resolve insolvency (years)
2.5 years
Resolving insolvency: recovery rate (cents on the dollar)
27.2
Time required to enforce a contract (days)
790 days
Rigidity of employment index (0=less rigid to 100=more rigid)
198
Procedures to enforce a contract
32
Extent of director liability index (0 to 10)
4
Strength of investor protection index (0 to 10)
5.7
Ease of shareholder suits index (0 to 10)
8
Time required to register property (days) WDI
22.5 days
Procedures to register property
7
Minimum paid-in capital required to start a business (% of income per capita)
0 %
Cost to register property (% of property value)
2.4 %
Time to prepare and pay taxes (hours)
408 hours
Firms expected to give gifts in meetings with tax officials (% of firms)
6.4 %
Labor tax and contributions (% of commercial profits)
20 %
Average number of times firms spent in meetings with tax officials
2.1
Other taxes payable by businesses (% of commercial profits)
4.8 %
Tax payments
36
Profit tax (% of commercial profits)
12.4 %
Total tax rate (% of profit)
37.2 %
Time required to build a warehouse (days)
105 days
Procedures to build a warehouse
18
Burden of customs procedure, WEF (1=extremely inefficient to 7=extremely efficient)
4.5
Binding coverage, manufactured products
100 %
Binding coverage, all products
100 %
Binding coverage, primary products
100 %