In the 2020 World Bank’s Ease of Doing Business Report, Trinidad and Tobago was ranked 105th out of 190 countries.
At Friday’s Public-Private Partnership Conference in Port of Spain, Minister of Planning, Economic Affairs and Development, Dr. Kennedy Swaratsingh, said important strides are being made to improve that ranking.
He highlighted what the government has accomplished in its plan to promote ease of doing business in Trinidad and Tobago.
“As you would have known, in the last month or so we would have changed the TTIFC into the National Payments and Innovation Centre of Trinidad and Tobago. We have begun to make changes. Cabinet has also approved the establishment, the re-establishment, of the Economic Development Board. We are moving at a pace to make sure that we understand fundamentally where we are, the things that we’re good at, and the things we need help in getting done.”
The Minister outlined some of the most recent accomplishments made in collaboration with the Ministries of Trade and Finance.
“Just yesterday, Cabinet approved the establishment agreement between the Government of Trinidad and Tobago and the World Bank Group. Once, of course, it is vetted by the Attorney General’s office we are moving to establish that office here in Trinidad and Tobago.”
Minister Swaratsingh noted that within the next week or two, he hoped to take a note to Cabinet regarding the ease of doing business.
“We are going to establish government-to-government arrangements. We have established one with the UK Exim. We are going to establish another one – we’re going to finalise, in the next week or two, government-to-government arrangements with the Government of Canada. We are going to be working with partners internationally, globally, and locally to establish frameworks to implement projects across health, across transportation, across retail.”
The theme of the one-day conference was Driving Innovation Through Public-Private Partnerships.