2011年-世界发展银行全球_Enterprise_Surveys___Venezuela_Country_Profile_2010_15页_1mb

Venezuela Country Profile 2010 Summary

Core Content Overview

This document presents the Venezuela Country Profile 2010, based on data collected from the Enterprise Surveys conducted by the World Bank and the International Finance Corporation (IFC). The surveys provide a comprehensive analysis of the business environment in Venezuela, comparing it to other countries in the Latin America & Caribbean region and the Upper middle income group.

Main Topics Covered

The document covers several key areas that influence the business environment and firm performance in Venezuela:

• Business Environment Obstacles
• Average Firm Characteristics
• Infrastructure
• Trade
• Regulations, Taxes, and Business Licensing
• Corruption
• Crime and Informality
• Finance
• Innovation and Workforce

Key Findings and Main Points

Business Environment Obstacles

• A poor business environment in Venezuela increases operational challenges and reduces the potential for economic growth.
• The top constraints identified by firms include corruption, inefficient regulations, and complex business licensing procedures.
• These obstacles are compared to regional and income group averages, highlighting areas where Venezuela lags behind.

Average Firm

• The average firm in Venezuela has been in operation for 17.8 years.
• 31.1% of firms have a female top manager, and 30.7% have female participation in ownership.
• The majority of firms are privately owned, with 93.5% being domestic private and 6.5% foreign private.
• There is no government or state-owned firm in the sample.

Infrastructure

• Infrastructure deficiencies in Venezuela create significant operational challenges.
• 4.0 power outages occur per month, with 8.3% of sales lost due to these outages.
• 2.5 water shortages per month are reported, with an average duration of 5.4 hours.
• Delays in obtaining electricity, water, and telephone connections are high, with 13.9, 17.7, and 33.1 days respectively.

Trade

• Only 2.2% of firms in Venezuela are exporters.
• 53.2% of firms use foreign material inputs or supplies.
• 18.4 days are required to clear direct exports through customs, and 18.9 days for imports.
• 0.0% of direct exports are lost due to theft, while 1.1% are lost due to breakage or spoilage.

Regulations, Taxes, and Business Licensing

• Regulations and licensing procedures are time-consuming and costly.
• 58.7 days are required to obtain an import license, and 117.2 days to obtain an operating license.
• 27.6% of senior management time is spent dealing with government regulations.
• The average number of meetings with tax officials is 3.0.

Corruption

• Corruption is a significant issue in Venezuela.
• The Graft Index is 6.5, indicating a high incidence of informal payments.
• 65.5% of firms are expected to give gifts to secure a government contract.
• 23.4% of firms expect to give gifts for an import license, and 9.7% for a construction permit.

Crime and Informality

• 31.7% of firms believe the court system is fair, impartial, and uncorrupted.
• Security costs amount to 2.5% of sales.
• 1.4% of sales are lost due to theft, robbery, vandalism, and arson.
• 95.6% of firms are formally registered upon starting operations, suggesting a relatively low level of informality.

Finance

• Internal finance accounts for 58.2% of investment, while bank finance accounts for 22.8%.
• 34.2% of firms use external financing for working capital.
• The value of collateral needed for a loan is 265.9% of the loan amount.
• 35.4% of firms have bank loans or lines of credit, and 96.6% have checking or savings accounts.

Innovation and Workforce

• 25.9% of firms have internationally recognized quality certifications.
• 64.4% of firms have their annual financial statements reviewed by external auditors.
• 51.5% of firms use their own websites, and 77.3% use email for communication with clients/suppliers.
• The average number of temporary workers is 3.9, and 26.3 permanent, full-time workers.
• 38.4% of firms have full-time female workers.

Summary of Key Indicators

Conclusion

The Enterprise Surveys reveal that Venezuela faces significant challenges in its business environment, particularly in areas of corruption, regulatory inefficiencies, and infrastructure deficiencies. These issues impact firm productivity, increase operational costs, and reduce the competitiveness of the private sector. While there is a relatively high level of formal registration and access to basic financial services, the reliance on internal finance and the high collateral requirements suggest a less developed financial market. The country also has a relatively low level of innovation and a moderate level of workforce participation, with notable gender disparities in leadership and ownership. Overall, the data underscores the need for reform in the regulatory, tax, and licensing systems, as well as improvements in infrastructure and trade facilitation to enhance the business environment and promote sustainable economic growth.