Bharath confident that new measures will attract foreign investors

Vasant Bharath

Trade Minister Vasant Bharath said on Thursday his ministry is accelerating measures to make it easier for international investors to do business with Trinidad & Tobago.

He made the point during the post cabinet media briefing. “Three weeks ago I said Trinidad and Tobago would be catapulted into being one of the top ten countries for the ease of doing business. Currently we stand at number 68,” Bharath noted.

“Cabinet approved the sum of $39 million for the continued development of the Single Electronic Window (SEW), which should be fully developed within four years," he added. 

"We have completed the E Company Registration which reduces registration time from seven days to three days. The issuance of work permits has also been reduced from six to two and a half weeks. Import licences have been reduced from four weeks to one day,” Bharath explained.

Bharath said by December the SEW would be integrated with other systems implemented by the Customs and Excise Division. "This will mean on average, an additional 15 to 19 containers will be cleared and a container will now take one day to be cleared."

He said this changes would improve the country's standing. “This would allow us to move up in the index as investors would have more confidence in Trinidad and Tobago," Bharath said.