Gov't taking steps to reduce business registration process
The Government is targeting a reduction in the development approval process timeline from 90 to 60 days by March 2018.
Finance Minister Audley Shaw says the Administration has also taken steps to reduce the time taken to establish a business by facilitating an electronic registration process.
He says these measures form part of the thrust to further improve Jamaica’s investment climate and competitiveness by removing impediments to the ease of doing business in order to facilitate investors.
They are among the programmed reforms for which the World Bank has provided the Second Competitiveness and Fiscal Management Programmatic Development Policy Loan worth J$9 billion.
Speaking at the signing of the loan agreement with World Bank Country Manager for Jamaica, Galina Sotirova, yesterday, Shaw said the loan will also support the Administration’s targeted programme of fiscal consolidation and enhanced public financial management.
He notes that this is another priority area for the Government which, he says remains committed to improving public efficiency, quality and cost effectiveness.