News

Work on the Secure Transactions in movable properties legislation is now into its second phase with the development of the legislative framework and appropriate regulations.    Access to finance had been a long standing issue for the private sector particularly small and medium enterprises. Research indicates that approximately 70% of a firm’s wealth is concentrated in its movable assets.  

Government is seeking to simplify the administrative processes and procedures in reference to goods entering and leaving the country.  In 2009 Cabinet gave permission for the establishment of a Port Community Single Window to increase St. Lucia’s competitiveness in regards to the trading of goods.  

The Government of St. Lucia via the National Competitiveness and Productivity Council is seeking to encourage increased levels of competitiveness within St. Lucia via the development of a Competitiveness Agenda.  From March 4^thto 8^th the consultant hired to develop the Competitiveness Agenda solicited input from key stakeholders on the various pillars of competitiveness which drive economic growth.  

Innovation is the application of better solutions that meet new requirements and existing market needs. The National Competitiveness and Productivity Council recognizing the importance innovation plays to a country’s growth and development salutes the work of a young inventor and innovator nestled in a fishing village in St. Lucia.  

Productivity measures how efficiently inputs such as labour and capital are utilized to produce increased levels of output, such as goods and services.  Locally, focus is being place on the roll of research and innovation to boost St. Lucia’s competitiveness and productivity. 

As the Common Entrance Examination draws near Grade 6 students of the Gordon & Walcott Memorial Methodist School received a timely presentation on “Procrastination and Productivity” by the National Competitiveness and Productivity Council. This was one of the activities of the Eastern Caribbean Central Bank’s mentorship programme. 

An invitation was extended to the National Competitiveness and Productivity Council (NCPC) by the Attorney General’s Chambers to deliver a presentation on productivity as part of their monthly enhancement activities for management staff.

The Commercial Division of the Registry of the High Court has been in operation from January 19, 2016. The Commercial Court has reported a steady increase in the number of fillings over the last three years from 44 cases in 2016 to 100 cases in 2018. The division believes this success will boost St. Lucia’s economic growth and development by increasing investor confidence to embark on new ventures because of the efficiency of the Justice System.