Plans are in the pipeline to boost Dominica’s investment climate with the official launch of a Business Entry Reform Project here today.
The Government of Dominica and the International Finance Corporation (IFC) has partnered with members of the World Bank Group, with the support of the Canadian International Development to implement regulatory reforms to make it easier for small businesses to function.
Chief Personnel Officer Irma Edwards told the official launching ceremony at the Fort Young Hotel today that Dominica can claim a high measure of success in the implementation of various programmes undertaken thus far.
“The country has been experiencing great difficulties in addressing increasing levels of budget deficit and debt repayments. At the time it seemed impossible to stabilize the fiscal situation because it meant that the levels of public expenditure had to be significantly reduced. This situation warranted the introduction of a fundamental structural programme in order to provide a basis for recovery and stabilization of the economy to sustain future growth and development of the country,” she explained.
Meantime the Acting Executive Director of Invest Dominica Authority Michael Savarin says the ongoing reformation into factors that affect doing business here must be addressed.
Regional Coordinator for Mexico, Central America and the Caribbean Ernesto Martin-Montero also addressed today’s forum.
He said the IFC is delivering on its commitment to help create a business environment more suitable for increasing investments to help build a vibrant and inclusive economy.
“The contribution that the private sector can make on the development of the Caribbean region is fundamental for their social and economic growth,” he said.
Dominica ranked 83rd on the ease of doing business among 183 economies worldwide.
Do thing Ms. Edwards!! Good to see you…and you’re working hard as usual!!