MarkStra Caribbean and Legal@Your Services conduct the World Bank’s Doing Business Survey in Curacao

Often it is said that Curaçao lacks data, whether it is  to use as a basis for ‘selling’ Curaçao to investors, to compare us to competing countries or aid in economic policy-making. One of the premiere global tools to do so is The World Bank’s Doing Business Survey, now in its 11^th edition. According to the World Bank, the Doing Business Survey ‘investigates regulations that enhance business activities and those that constrain it’. As such it is used by to assess, compare  and promote the ‘ease-of-doing business in 185 countries. Curacao is not included in the study because it is not an independent country. MarkStra Caribbean and Legal @ your services have taken the initiative to conduct the Doing Business Survey in Curacao following the World Bank methodology.

‘Same as done in other countries, we have experts in each field covered by the survey describe the procedure, time and cost . Afterwards, 2  or 3 colleagues, experts in the same fields will verify their work. I myself was the legal counsel for a large company, am a labor law expert by training and now work with a notary office. So I start some of the descriptions’. says Fleurella Olaria, attorney, CEO of Legal @ your services.  ‘The second step will be to calculate where Curacao ranks in the world ranking. Calculating rankings, comparing to competitors and recommending changes for improvement are things that MarkStra would typically do in its research and strategy practice’, adds Tamira La Cruz, MBA, CEO of MarkStra Caribbean.  

There are eleven (11) research topics, among others, starting a business, registering property, enforcing contracts, paying taxes and employing workers. Because it describes procedures, cost and timing, the Doing Business data also provides transparency and acts as an unambiguous guide to advisors to investors, investors themselves and other stakeholders. The summary of regulations in Curacao and abroad, and their effect on ease of doing business, will indicate to policy makers which regulations need to be changed and which changes are most likely to have significant effect on transparency and ease of doing business. The results will be presented later in the year by way of a seminar and a manual.  For more information, please Google our blog ‘Caribbean Research and Strategy by MarkStra Caribbean’ or visit MarkStra Caribbean on Facebook.

What are the business topics surveyed?

1. Starting a business
2. Dealing with construction permits
3. Getting electricity 
4. Registering property
5. Getting credit 
6. Protecting investors 
7. Paying taxes 
8. Trading across borders 
9. Enforcing contracts 
10. Resolving insolvency 9
11. Employing Workers 

Who are the initiators?

Tamira La Cruz, MBA, CEO MarkStra Caribbean

• Business economist, MBA , The Wharton School
• From marketing to research strategy and innovation
• International research  and strategy for global and local brands, industry leaders, as lead and subcontractor
• Local and regional network in private enterprise and academia

mr. Fleurella Olaria, attorney, CEO Legal @ your Services

• Dutch social economic law, University of Groningen
• Legal Counsel Fatum Insurance
• Independent legal consultant
• Expert in insurance, business and notary law