The independent committee appointed to tackle the whole issue of improving the country’s image when it comes to the ease of doing business has made recommendations on how this can happen.
Deputy Prime Minister and Minister of Finance Peter Turnquest held back on what those recommendations are but said that as that team continues its work, finance officials will continue to make changes in the way it does business.
“In the Ministry of Finance itself, we are about to engage in a review exercise to determine where our own bottle necks are and it is my hope that in the next rating we will see some quantum changes,” Turnquest said.
The world bank’s most recent ‘ease of doing business’ index ranked the Bahamas at 119th up from the 126th position it previously held.
The world bank’s report measures the amount of bureaucracy and ‘red tape’ that businesses and or investors encounter in dealing with the government and regulatory agencies.
He added that while the recommendations from the committee do not get down to the day to day level, he is certain that changes will be made soon.
“We want to get down to that level where the process is as easy as walking into an office and an hour later you walk away with everything you need in order to get your business going. And so we’re working on those modernization programs,” Turnquest said.
Nations like Jamaica ranked 67, Saint Lucia, 86, Trinidad and Tobago, 96 and The Dominican Republic, 103.
The independent committee appointed to tackle the whole issue of improving the country’s image when it comes to the ease of doing business has made recommendations on how this can happen.
Deputy Prime Minister and Minister of Finance Peter Turnquest held back on what those recommendations are but said that as that team continues its work, finance officials will continue to make changes in the way it does business.
“In the Ministry of Finance itself, we are about to engage in a review exercise to determine where our own bottle necks are and it is my hope that in the next rating we will see some quantum changes,” Turnquest said.
The world bank’s most recent ‘ease of doing business’ index ranked the Bahamas at 119th up from the 126th position it previously held.
The world bank’s report measures the amount of bureaucracy and ‘red tape’ that businesses and or investors encounter in dealing with the government and regulatory agencies.
He added that while the recommendations from the committee do not get down to the day to day level, he is certain that changes will be made soon.
“We want to get down to that level where the process is as easy as walking into an office and an hour later you walk away with everything you need in order to get your business going. And so we’re working on those modernization programs,” Turnquest said.
Nations like Jamaica ranked 67, Saint Lucia, 86, Trinidad and Tobago, 96 and The Dominican Republic, 103.
