‘Gov’t focused on improving global business competitiveness’

The continuous appeals from the private sector for Government to put measures in place to urgently improve the country’s global business competitiveness rating have not been lost on the Freundel Stuart administration, says Minister of Finance Chris Sinckler.

Lamenting the fact that the country has progressively scored lower in the rankings of the World Doing Business Report, with 2017 being Barbados’ worst year, Sinckler stressed that Government remained committed to cutting the high costs and red tape that are synonymous with doing business here.

“This position has slipped progressively over the years and according to the Doing Business 2017 report, Barbados’ rank was 117 out of 190 countries overall. This also includes a ranking of 125 in the specific area of trade across borders. While we may be tempted to challenge certain aspects of these indices, and indeed we have challenged certain aspects of the report in relation data collection and methodology, we cannot challenge the fact that as a country that we are overly dependent of international trade and we must commit to simplifying and streamlining existing regulations, behaviours and practices that impact business facilitation,” said Sinckler, who was addressing Wednesday’s closing workshop for the Barbados Competitiveness Programme at the Lloyd Erskine Sandiford Centre.   

However, the minister warned that such change would not come about if Government simply react to the rankings instead of implementing a systematic upgrade of institutions, coupled with the willingness to embrace change.

“It is important that we recognize that the attainment of greater levels of efficiency, productivity and international competitiveness cannot be achieved through transitory reactions to adverse movements in the measurement benchmarks. Any sustainable long-term response must be supported by the relevant institutional structure.

‘The concern of the private sector regarding Barbados’ competitiveness in the world is on the action agenda. Since 2009 Government has demonstrated a focused effort to improve the country’s standing in the global business and trading arena,” Sinckler noted.

“We recognize that attaining competitiveness is not a one off achievement but it is a continuous and dynamic process that has to be coordinated and managed. Change is never a simple exercise; people will always resist change because it is unknowns. The introduction of new technologies would therefore require sound change management if staff and management are to effectively transition to the new. It is also important that there be a willingness to embrace the consequence of these changes,” he added.

4 Responses to ‘Gov’t focused on improving global business competitiveness’

  1. FED UP bajan September 1, 2017 at 2:07 am

    Why can’t you just disappear forever.

    You are a failure, like the rest of DeM.

    Please resign

    Reply
  2. Ali Baba
    Ali Baba September 1, 2017 at 2:35 am

    THAT SHOULD READ, GOVERNMENT FOCUSED ON IMPROVING STEELING!! BAUL POOCH YA LOOK BAD BOY, TAKE SOME DOLLARS AN FIX YASELF

    Reply
  3. Anthony Davis
    Anthony Davis September 1, 2017 at 7:50 am

    Can someone tell me what he’s trying to say? The long talk will not help the situation as the hike in all of the taxes, plus new ones won’t help the situation! We’ll remain the most expensive country in the Eastern Caribbean.

    Reply
  4. Buun September 1, 2017 at 5:16 pm

    These guys just toss out all these words such as: productivity, efficiency, business competitiveness, data collection and methodology, simplifying and streamlining, business facilitation, systematic upgrade, greater levels of efficiency, productivity and international competitiveness, transitory reactions, benchmarks, sustainable, dynamic process, new technologies, change management, effectively transition and embrace changes. My friend, some people walk the talk and others just talk the talk (you). We’ve been only embracing TAXES from your administration for the last eight years. I do not see any of those words when it come to getting my tax return. So go and tell it to Devil.

    Reply

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