Dawgen Global: St Lucia aims to join top 10 nations for 'ease of doing business'

Sunday, December 9, 2012

St Lucia aims to join top 10 nations for 'ease of doing business' - Caribbean360

St Lucia aims to join top 10 nations for 'ease of doing business' - Caribbean360:

CASTRIES, St. Lucia, Sunday December 9, 2012 – The St. Lucia government has set a four year target for the island to be among the world’s top 10 nations for doing business under the World Bank’s “Ease of Doing Business” index

Commerce, Business Development, Investment and Consumer Affairs Minister Emma Hippolyte told the island’s main private sector organisation that the Kenny Anthony government is moving forward with a number of reforms and policies which will include the establishment of a commercial court, an investment roadmap project, an investment climate assessment survey and the development of an investment policy.
“The investment roadmap is an analytical tool that will be used for documenting and analyzing Saint Lucia’s attractiveness for investment and serves as a catalyst for change.
“The road mapping project will examine the processes involved in facilitating investments against the policy and regulatory systems,” Hippolyte told the St. Lucia Chamber of Industry and Commerce.
The investment climate assessment study is done every three years and it is an evaluation of the operational dimensions and promotion of policies to strengthen the private sector.
Hippolyte said the policies and projects discussed will lead to the much needed investment policy and strategy.
“Government of St. Lucia continues to streamline and harmonize the administrative, regulatory and legal framework such as the upgrading of the e-registry software to facilitate efficient online filing of companies and name searches,” she said, adding the government will redouble its efforts at ensuring that the process for filing and approval of applications for import licenses is streamlined and done through electronic interface.
Hippolyte reiterated the government’s commitment to improving the investment climate saying “the goal is to improve our ranking and be among the world’s top 10 countries for doing business. This we want to achieve over the next four years”.
St Lucia has been ranked “the best” among Caribbean countries in the World Bank and the International Finance Corporation (IFC) "Doing Business 2013" report.
The report, which is based in a comparison of business regulations for domestic firms in 185 economies, ranked St Lucia at 53, ahead of its Caribbean Community (CARICOM) counterparts as well as Brazil