Minister Swaratsingh: Fast-Tracking Government Decisions Could Boost Investment
The government’s decision to fast-track decision-making will have a positive impact on Trinidad and Tobago’s economic well-being.
This is according to Minister of Planning, Economic Affairs and Development, Dr. Kennedy Swaratsingh, who said bureaucratic red tape has resulted in billions of dollars in losses for Trinidad and Tobago.
« It is estimated that between 2021 and 2025 this country would have lost upwards of a billion dollars in investments because of slow processes and bureaucratic inertia. We recognise that time is one of the most valuable resources for any business; therefore, by reducing administrative delays and improving coordination among State agencies, we are making Trinidad and Tobago a more competitive destination for investment. »
The Minister noted that several Ministries and agencies, including the Licensing Division and the Ministry of Trade, have already implemented digital platforms.
« You would have seen us, over the last few months, we would have launched the National Payments Centre, where we are now moving, and, in fact, we tested it during the Carnival season where many of the entrepreneurs at Flava used the government backbone, you know, to transact goods and services. And you’re going to see it roll out across several initiatives, including from licensing, ticket payments and other places. »
The Minister was speaking at the launch of Massy Distribution’s state-of-the-art warehouse at Orange Grove.
The 230,000-square-foot warehouse features an automated storage and retrieval system as well as automated cranes and conveyor systems.
Meanwhile, Massy Group President and CEO, James McLetchie, said the lessons from the group’s establishment of a logistics distribution hub in Trinidad and Tobago will be duplicated.
« Importantly, the model we are developing, combining operational excellence, technology, AI, talented people not can be, will be replicated across the region. That is the intention. When we scale this approach across the regional footprint, the potential impact is enormous. Stronger, more reliable supply chains, more efficient distribution networks and improved access to goods and services. »
