Prime Minister Dr. the Rt. Hon Keith Mitchell, who has made Private Sector Investment a hallmark of his Administration, said that he was “excited that Grenada is being recognized for its move towards fiscal responsibility, and engagement of the Private Sector”.
The Prime Minister made his comments on the heels of a World Bank report, which reported favourably on the new Administration’s fiscal measures being introduced.
Prime Minister Mitchell said, his Government plans to continue to take full advantage of the “tremendous opportunity for growth” in areas of the Private Sector.
The World Bank has commended the new Mitchell Administration for making major strides in“Fiscal Governance and Investment Promotion.”
The World Bank report came about, after an analysis of a major project of the Mitchell ‘s Administration, that is geared towards modernizing different areas of its import/export operations and investments.
In commending Prime Minister Mitchell’s new era economy, and efforts to update its market system, the World Bank report stated, that Prime Minister Mitchell’s efforts in the import/export market will lead to increased productivity.
According to the Bank’s report, the government has now developed competence in the assessment for exported goods with its new automated customs processes, and efficient and speedy cargo clearance time. As a result, Grenada will soon be the recipient of certificates for Customs compliance.
In praising the new project of the Mitchell’s Administration, the World Bank said, that the project will spur the revenue capacity of different Government Institutions, as well as improve the climate for Private Sector Trade and Investment.
Prime Minister Mitchell has restated his Administration’s commitment to the recovery of our Nation, stating that by modernizing the export/import market, the country is sending the strong message that we are indeed “open for business and partnerships.”
The Prime Minister reiterated, that partnerships between the Government and the Private Sector cannot be understated, because government “cannot do it alone.” The recovery of Grenada’s economy needs the support of the Private Sector as well as other social partners.
The Washington-Based Financial Institution said, that the new Administration must continue to promote investments and quicken procedures related to the processing of investment proposals.
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