Govt to tackle busi­ness cli­mate fail­ings

UK Barbados Nation - - NEWS -

GOV­ERN­MENT has out­lined sev­eral steps it in­tends to take to “ad­dress weak­nesses in the busi­ness cli­mate”.

The mea­sures were out­lined in the Bar­ba­dos Eco­nomic Re­cov­ery and Trans­for­ma­tion pro­gramme and Gov­ern­ment’s agree­ment with the In­ter­na­tional Mon­e­tary Fund (IMF).

The weak­nesses to be reme­died in­cluded “slow pro­cesses for ob­tain­ing con­struc­tion per­mits, get­ting elec­tric­ity, and reg­is­ter­ing prop­erty”. Bar­ba­dos re­ceived pass marks in each of these cat­e­gories in the World Bank’s lat­est Do­ing Busi­ness re­port.

Quicker per­mits

“It will also in­clude poli­cies to in­crease fi­nan­cial and labour mar­ket flex­i­bil­ity. The Gov­ern­ment can be much quicker at pro­cess­ing per­mits and li­cens­ing,” Gov­ern­ment said in its IMF agree­ment.

It com­mit­ted to stream­lin­ing and ac­cel­er­at­ing the Town and Coun­try Plan­ning process, in­clud­ing by in­tro­duc­ing new Town and Coun­try plan­ning leg­is­la­tion by the end of next month.

New busi­ness plan

“We will also adopt a new busi­ness plan and struc­ture for the Cor­po­rate Af­fairs and In­tel­lec­tual Prop­erty Of­fice, the Land Reg­istry and for our Vi­tal Statis­tics [by] end of March 2019 with a view of stream­lin­ing the reg­is­tra­tion of new busi­ness and strength­en­ing main­te­nance of com­mer­cial records of ex­ist­ing busi­ness, de­tails of land trans­ac­tions and data per­tain­ing to in­di­vid­u­als,” the doc­u­ment stated.

(SC)

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