A series of reforms and initiatives will be undertaken through a project geared at improving efficiency and competitiveness, and supporting renewed investment in the local economy.
This is according to Prime Minister Dr Kenny Anthony who said the project will focus on improving access to credit by drafting legislation to deal with insolvency, and to facilitate secured transactions.
In addition to this, the project is also aimed at modernising the process and access to the Register of Companies and Immovable and Movable Property.
This will be done through the development of a system of inter-connected registries, which are searchable by a unique identifier.
A single electronic window will also be created for construction permits/building approvals, to reduce the length of the approval process.
Meanwhile, Dr Anthony said the government also plans to restructure Saint Lucia’s seaport operation, as part of those reforms.
“The global competitive environment dictates a rethink of the structure and operating hours of our seaports to facilitate trade,” he explained.
SLASPA, he said, has commenced the process of restructuring the ports operation, which is at an advanced stage at Port Vieux Fort.
“We believe this initiative will allow for greater operational efficiency, thereby enhancing trade facilitation and the ease of doing business,” he added.