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Access to finance continues to be a major issue affecting the growth and development of Small, Medium, and Micro Enterprises (MSMEs). The National Competitiveness and Productivity Council (NCPC) spearheaded a piece of legislative reform labeled the Security Interest in Movable Assets Act, which aims to bridge this financing gap and improve national productivity and competitiveness.

Access to finance continues to be a major issue affecting the growth and development of Small, Medium, and Micro Enterprises (MSMEs). The National Competitiveness and Productivity Council (NCPC) spearheaded a piece of legislative reform labeled the Security Interest in Movable Assets Act, which aims to bridge this financing gap and improve national productivity and competitiveness.

The National Integrated Planning and Programme Unit (NIPP) within the Department of Finance recently held a 2-week Building Condition Assessment and Asset Management train the trainer’s Course at the Sir Arthur Lewis Community College.  Director of the NIPP, Haward Well noted that training modules comprised best practices for maintaining public buildings through the conduct of building condition assessments, planning and prioritizing maintenance, and deriving replacement costs for financial decision-making. 

Welcome to Productivity Vybes, a production of the National Competitiveness and Productivity Council. Productivity Vybes is an informative magazine programme on what’s Vybing in the areas of productivity and competitiveness. 1. What’s Trending – National Anti-Money Laundering Legislation 2. Innovators – Collateral Registry Kick Start Meeting 3. Productivity Insights – Asset Management Train the Trainer

Senior management of the Inland Revenue Department (IRD) participated in a week-long strategic planning workshop facilitated by the IMF/CARTAC Short-Term Expert, Princess Scott. The workshop emanated from a Tax Administration Diagnostic Assessment Tool (TADAT) which looked at the health of the department and the necessary measures required to align the department with its strategic objectives. Marcia Vité is the Comptroller at the IRD.  

The National Competitiveness and Productivity Council (NCPC) moved another step closer to full implementation of the Security Interest in Movable Properties Bill which was passed in parliament in 2022. The establishment of a Collateral Registry of movable assets is vital for the full implementation of the legislation. Director of the NCPC, Lisa Florent-Montoute said the contract for the development of the collateral registry has been awarded to IOS Partners and a kick-start meeting was held in early February to discuss contract management among other matters.

The National Anti-Money Laundering Oversight Committee (NAMLOC) presented certificates of participation to stakeholders involved in reviewing the recent amendments to Saint Lucia’s Anti-Money Laundering, Terrorist, and Proliferation Financing legislation. These amendments are critical to Saint Lucia’s application for re-rating to be removed from enhanced follow-up. One piece of legislation which will impact several service providers is the Virtual Assets Business Act which was recently passed in December 2022. 

The Customs and Excise Department joins counterparts around the world in observance and World Customs Day on January 26th, 2023. The theme for this year’s observance is “Nurturing the next generation, promoting a culture of knowledge, sharing, and professional pride in customs.”  Senior Customs Officer, Sarah Arlette Marshall outlined the activities planned in observance of World Customs Day.

This panel discussion was organized by the National Anti-Money Laundering Oversight Committee (NAMLOC) to sensitize the general public on the work of this committee in combating money laundering, terrorist financing, and proliferation financing in Saint Lucia.