Budget Speech 2011 - Government of Grenada

This NDC administration has embraced Doing Business Reform as an
essential component of its support for the growth of Grenada’s Private
Sector, given the strategic role the Private Sector must play in meeting the
macro-economic challenges which we currently face.
Encouraged by Grenada’s impressive performance in the 2011 Ease of
Doing Business Index, Government will pursue the following reforms this
year:
1. The pilot launch of the computerised entry processing system
at the Customs and Excise Department, known as ASYCUDA
World. Business men and other users of the Customs services
can attest to the fact that the reform train has been rolling at the
Customs for some time now and the entry clearance time had been
reduced from four days to one and a half even before the launch
of ASYCUDA World. ASYCUDA World will reduce entry
clearance time even further.
2. The creation of a Lands and Deeds Registry. This reform is a
very important business facilitator, as property transfer often lies
at the centre of business transactions, including Foreign Direct
Investments.
V. Support for Small Business Development
This year, Government will seek to enact a Small Business Act to provide
a stronger legal framework for small businesses.
Government has allocated $1 million for Young Entrepreneurs Fund.
This Fund seeks to address the problem of unemployment by providing
opportunities for the unemployed to get involved in viable production and
financially rewarding economic activities.
In an effort to encourage entrepreneurship among our youth and creating a
smoother transition between school and business, Government will invite
participants of the Junior Achievement Programme to approach the Fund
for support. Under this initiative, the Fund would support the best business
ideas and projects developed by the Junior Achievers.
2011 Budget Statement Page 67