By Howard Walker, Staff ReporterJAMAICA IS in the top 10 of list of countries that is easy to do business with says Karen Turner, Mission Director of United States Agency of International Development (USAID).
She was speaking yesterday at the launch of the New Economy Project (NEP)/Fair Trading Commission (FTC)/Anti-Dumping and Subsidies Commission (ADSC) Assistance Programme at the Terra Nova Hotel in Kingston.
He said in a recent world ranking report entitled 'Doing Business 2004', Jamaica was ranked in the top 10 countries that regulates business the least.
"Jamaica is the only developing country on the list together with countries such as Singapore, United Kingdom, Hong Kong and Australia," she said.
According to Turner, the ongoing partnership between the Jamaican government and private sector has changed the business environment in Jamaica.
'Doing Business' a new annual publication from the World Bank, provides information on the business climate in over 130 countries.
The document constructs a new set of indicators on the regulatory environment for private sector development and provides a collection of informative case studies of real-life experiences.
PLEASE BOX
Doing Business assesses
Which is the most expensive country for starting a new business
Which countries have the most rigid regulations on hiring and firing
Which countries have the most extensive business entry procedures
Why does heavy regulation lead to inefficiency and corruption
What countries are most efficient in the area of contract enforcement
How clearly-defined property rights enhance prosperity?
What are the most successful regulatory models.
The endorsement of Jamaica had Phillip Paulwell, Minister of Commerce, Science and Technology congratulating the 28 agencies under his Ministry. "There is no hindrance to business. The changes that we have implemented plus the trade board processing on-line have made this possible," Minister Paulwell said after delivering the keynote address at the launch.
According to the Minister, the New Economy Project Assistance Programme will enhance and improve the investigative and assessment capability of the FTC. Barbara Lee, FTC executive director also said the assistance from USAID and NEP would make the agency's 'work that much easier and will be able to monitor the market in a much more efficient way.'
A list of the top 10 countries in alphabetical order that regulate the least
Australia
Canada
Denmark
Hong Kong
Jamaica
The Netherlands
New Zealand
Singapore
Sweden
United Kingdom
Jamaica has aggressively adopted best practice regulations over the last two decades says 'Doing Business 2004'.
