The Ministry of Finance is pleased to advise of Grenada’s further improvement in the World Bank’s Doing Business Ranking. According to the 2012 World Bank Doing Business Report 2012:, “Doing Business in a More Transparent World”, Grenada has risen from 92 to 73.
According to the report released on October 20, 2011, while no legislative reforms were undertaken during the view period, the International Finance Corporation (IFC), the private sector arm of the World Bank, provided technical assistance for Grenada and three other Eastern Caribbean territories allowing Grenada to consolidate on reform efforts in the areas of ‘Starting a Business’ and ‘Trading across Borders’.
Doing Business 2012 is the ninth in a series of annual reports benchmarking the regulations that enhance business activity and those that constrain it. The report presents quantitative indicators on business regulation for 183 economies. The data covers the period up to June 2011. Doing Business indicators help policymakers to learn from global best practices and to prioritize reforms.
According to Minister Burke, “the rise in Grenada’s ranking is welcome news as it validates the work of Government to improve the business environment over the past three years. This sends a clear signal to investors that Grenada is a good place to do business and continues to get better”
Grenada’s doing business reform agenda is spearheaded by the Office of Private Sector Development in the Ministry of Finance and works closely with several Government Ministries and Departments.