Below are select highlights for the data included in the profile.
- Chile’s overall Doing Business 2013 ranking is 37 out of 185 economies, decreasing by 4 points compared with last year. This decrease reflects declines in 8 out of 10 indicators.
- According to the latest Enterprise Surveys (2010), Labor Regulations, an Inadequately Educated Workforce, and Access to Finance represent the top 3 obstacles on business in Chile. Despite naming Access to Finance as a major obstacle, Chilean businesses seem to be ahead of those in other countries in the region. 79.6% of firms have a line of credit or loan from a financial institution, compared to 47.6% regionally and 35.9% for all countries surveyed.
- Chile is one of the most open countries to foreign equity ownership, as measured by the Investing Across Sectors indicators. With the exception of the oil and gas industry, there are no sectors with monopolistic or oligopolistic market structures, nor are there any perceived difficulties in obtaining any required operating licenses. It takes 11 procedures and 29 days to establish a foreign-owned limited liability company (LLC) in Chile (Santiago). This is one of the shortest processes among the IAB Latin America and the Caribbean countries.
- Chile’s economic freedom score is 78.3, making its economy the 7th freest in the 2012 Index. Its overall score is 0.9 point better than last year due to improved scores in property rights, freedom from corruption, and monetary freedom. Chile enjoys the highest degree of economic freedom in the South and Central America/Caribbean region.*
* Source: The Heritage Foundation Index of Economic Freedom, http://www.heritage.org/index/