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Public, Private Sector Representatives Discuss Improving Saint Lucia’s Business Climate

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On September 13, 2023, the United States Agency for International Development (USAID), in partnership with the International Development Group LLC (IDG), hosted a workshop to discuss proposed support activities for Saint Lucia over the next year under USAID’s Caribbean Business Enabling Environment Reform (CBEE-R) activity.

The CBEE-R activity has prioritized two activity result areas for Saint Lucia: (1) Improved Conditions for Firm Access to Finance; and (2) Effective Public-Private Dialogue Established or Enhanced.

During the workshop, the business community and government stakeholders had an opportunity to provide feedback, propose modifications, and help identify key resource personnel and points of contact who could assist in implementing activities.

CBEE-R is also pleased to partner with the National Competitiveness and Productivity Council (NCPC) to support acceptance and use of the Collateral Registry.

This Collateral Registry facilitates improved access to finance for entrepreneurs, small and medium-sized enterprises, and the wider business community alike.

Such reforms enhance Saint Lucia’s business enabling environment and investment climate. Communication Specialist at the NCPC, Glen Simon, emphasized that “the CBEE-R’s support for the Security Interest in Movable Property Registry as a facility stands to transform the MSME sector in Saint Lucia and will result in increased access and opportunities to finance business endeavors. Thanks to the CBEE-R’s support, the Collateral Registry project is able to produce four public service announcements and a short feature to increase visibility and understanding of the overall project.”

The CBEE-R activity aims to foster close collaboration between the government and the private sector to generate policies that support business growth and to contribute to sustainable and strong Caribbean economies.

The goal is to support interventions that strengthen the business enabling environment and promote robust private sector-led economic growth while simultaneously building resilience to disasters and improving risk mitigation.

SOURCE: Caribbean Business Enabling Environment Reform Activity

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