T&T among top ‘doing business’ improvers

T&T is among the top ten countries showing the most improvement in the World Bank’s 2015 edition of the Ease of Doing Business” study due out in November. A new World Bank Group report states: “T&T, among the ten top improvers worldwide in this year’s report, made resolving insolvency easier by introducing a new restructuring proceeding. It also strengthened the rights of secured creditors during reorganisation procedures. And it made starting a business easier by introducing online systems for employer and tax registration. “Such reforms are leading to tangible benefits for entrepreneurs. For example, starting a business now takes 11.5 days for an entrepreneur in Trinidad and Tobago—on par with international best practice—down from 35.5 days in 2013.”

In building anticipation for the November release of its report, Doing Business 2015: Going Beyond Efficiency,” the World Bank said Caribbean economies have adopted “a record number of reforms improving the business environment,” adding that “room for improvement remains.” Jamaica, the Dominican Republic and T&T were praised in the release for implementing multiple regulatory reforms. “A new World Bank Group report finds that over the past year, 50 per cent of economies in the Caribbean implemented at least one reform making it easier for local entrepreneurs to do business—12 reforms in total, a historical high for the region,” the release said…..READ MORE