In the context of support for Grenada and three other Eastern Caribbean territories namely, Antigua and Barbuda, Dominica and St. Vincent and the Grenadines, the International Finance Corporation (IFC), under the project "Improving the Investment Climate in the Caribbean", is currently conducting a follow up mission in Grenada from, today, February 10th to Friday 11th 2011. The initial mission was held during 2010.
As part of the two-day mission, the consultants will review the Reform of the Business Registration Process and Trade Logistics in Grenada.
Under the Reform of the Business Registration Process, the consultants will hold consultations, with the key players, such as the Office of Corporate Affairs and Intellectual Property, the Ministry of Legal Affairs, the National Insurance Scheme and the Inland Revenue Department, on the reform of the process to register companies in Grenada. They will seek to obtain feedback and input to help finalize the reform proposal before it is implemented. The proposal calls for an automated system that can be available online for citizens, providing a single window which will allow for registration as company, tax payer and employer at once. Key institutions need to agree on this and have the necessary technical requirements met. The visit of the team will serve to evaluate this initiative, taking into account the general Reform Proposal and the software technical solution. The aim is to have the new system ready for use by May 2011.
Under Trade Logistics, this mission will follow up on an earlier mission conducted in Grenada in June 2010. During the June 2010 Mission the consultancy team sought to identify issues and constraints in the business environment for trade, analyze Grenada’s trade logistics supply chain (as at June 2010) and provide solutions to improve its performance. Their analysis and recommendations were based on observations of the processes and procedures and on interviews conducted with multiple stakeholders. This procedure was limited in its scope and did not seek to analyze the laws and regulations that govern trade. The current mission will therefore hold consultations with key stakeholders in this context, as well as identify short, medium and long term actions that can be taken for the improvement of trade logistics in Grenada. Special focus will be given to Port Operations, Shipping (LCL services), and Collaboration between border control agencies.
The Mission is being facilitated by the Office of Private Sector Development in the Ministry of Finance.