If Caribbean states are serious about utilising the private sector to pull their economies out of decline, it is imperative that they do more to improve the ease of doing business, the Caribbean Development Bank (CDB) says.
CDB Director of Economics Dr. Justin Ram, earlier this week used the forum of the Bank’s annual news conference to point to the role that excessive governmental regulations is playing in hindering the creation of medium, small and micro enterprises (MSMEs).
Several Caribbean Governments including the Government of Guyana have been continually criticised for excessive ‘red tape’ and layers of bureaucracy associated with investing in countries in the region and Ram is reported to have told the news conference that it is imperative that the ease of doing business in the region be improved if Caribbean countries are serious about having the private sector play a role in reversing decline in several countries.
