JIS News

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has described heavy bureaucracy as a cancer of commerce, impeding development and crippling progress.
“It frustrates an entrepreneur and, no matter how much money you have, or how many skills you have, as a young or seasoned business person, if you have to exist in an environment of bureaucratic impediment, you’re not going to make it,” Mr. Samuda stated.
He was addressing a forum at the Hilton Kingston Hotel, Thursday (October 1), on the findings of the joint World Bank/ International Finance Corporation (IFC) publication, ‘Doing Business 2010: Reforming through Difficult Times’.
He said bureaucracy was born of the need to monitor and control, but that the practice was rapidly becoming redundant, as the time has come when Government must begin to engage the private sector in a meaningful way, by relieving itself of that burden.

Minister of Industry, Investment and Commerce, Hon. Karl Samuda (right), greeting Marketing and Customer Services Manager at Jamaica Freight and Shipping Company Limited, Christine Johnston (left) while Director of Mayberry Investments Limited, Sushil Jain, looks on at centre, during Thursday’s (October 1) forum on the findings of the joint World Bank/ International Finance Corporation (IFC) publication, ‘Doing Business 2010: Reforming through Difficult Times’. The forum was held at the Hilton Kingston Hotel.

“What is the point of spending $1000 to monitor a process that will yield you a savings of 100 dollars? It’s not good business,” Mr. Samuda argued.
He said that with the current debt burden, the cost to Government in carrying out its business has to be addressed, and the private sector will have to take on the responsibility of funding some of the regulatory mechanisms the Government now funds.
“We are looking at curtailing any further debt accumulation and, at the same time, ensuring that those mechanisms that will facilitate the growth and expansion of business will be enhanced, so that that ratio (Debt to Gross Domestic Product) is reduced considerably,” Mr. Samuda said.
Doing Business 2010 ranked Jamaica 75 out of 183 countries in terms of ease of doing business in the country. The annual publication provides an objective basis on which economies can improve their regulatory environment for business.

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, addressing Thursday’s (October 1) forum on the findings of the joint World Bank/ International Finance Corporation (IFC) publication, ‘Doing Business 2010: Reforming through Difficult Times’. The forum was held at the Hilton Kingston Hotel, New Kingston.

The indicators include: starting a business; dealing with construction permits; employing workers; registering property; getting credit; protecting investors; paying taxes; trading across borders; enforcing contracts; and closing business. The survey broadly looked at the regulatory cost of business in the economies surveyed, and can be used to analyse specific regulations that enhance or constrain investment, productivity, and growth.
Jamaica was ranked tenth in the top 10 countries of Latin America and the Caribbean for ease of doing business.

Skip to content