Improving the business climate
Jamaica, The Bahamas and Trinidad and Tobago are leading the Caribbean in improving the region’s business climate, according to a new World Bank report released here on Tuesday.
The Washington-based financial institution said the three Caribbean Community (CARICOM) countries took steps to improve their business regulatory environment over the past year.
The report lists Antigua and Barbuda, the Bahamas, Barbados, Dominica, the Dominican Republic, Grenada, Haiti, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago as the countries making up the Caribbean.
The World Bank said the “Doing Business” report analyzes regulations that apply to an economy’s businesses during their life cycle, including start-up and operations, trading across borders, paying taxes and resolving insolvency.
The report titled “Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises,” finds that “Jamaica led the way in the Caribbean by adopting new legislation for private credit bureaus, reducing the corporate income tax rate and streamlining procedures for starting a new business”.