Government implements Regulatory Reforms geared at boosting Dominica’s investment climate
The Government of Dominica and the International Finance Corporation (IFC), members of the World Bank Group, with the support of the Canadian International Development Agency, have partnered to implement Regulatory Reforms and help boost the Dominica’s investment climate, thereby, making it easier for entrepreneurs to open and register a business. In that regard, the respective Organisations launched the Business Entry Component of the project called ‘Improving the Business Climate in the English Speaking Caribbean Project – Stage 1’ on Wednesday August 04th, 2010 at the Fort Young Hotel.
Chief Personnel Officer of the Establishment Personnel Training Department, Miss Irma Edwards said that government’s articulation in the 2010/2011 National Budget Address of their expectations for the first stages of the project, which is to improve the procedures to formally start a business and reduce processing time for investors through the creation of a one-stop-shop facility for investors, signals its readiness to move forward with the exercise.
Acting Permanent Secretary at the Ministry of Tourism and Legal Affairs, Henderson Edwards said that the Ministry is pleased to be associated with this project.
Acting Executive Director at Invest Dominica Authority, Mr. Michael Savarin said that they are extremely delighted to be a partner in this endeavor, as one of their main goals is to facilitate investment in Dominica.
For this phase of the project, the IFC has committed us. $365,850.00 which includes funds for conducting business advisory services, procurement of consultancy services, travel expenses for IFC staff members and expenses associated with communications activities, meetings and the monitoring and evaluation of functions. This agreement includes a cost sharing in which the Government of Dominica has committed US$81,300.00 as counterpart funding.