Johnson looking to trade to bolster the economy

Minister of Financial Services, Trade and Industry and Immigration Elsworth Johnson yesterday revealed a three-step plan to move the economy forward through trade ahead of the country’s planned economic partnership agreement with the United Kingdom.

In addition to increasing awareness and access to information on trade agreements, Johnson said his ministry has been working toward facilitating links between the Industries Encouragement Act and micro, small and medium enterprises within the green, blue and orange economies.

“This will ensure that our manufacturers are taking advantage of all opportunities for reduced duties on raw materials and other inputs, lowering the cost of operation for many local manufacturers,” he said during a nationally televised minister’s report yesterday.

“These steps are in response to the needs of the business community that we serve. My ministry, along with the Bahamas chamber of commerce, surveyed 100 Bahamian businesses to determine the best way to engage them as we move to ratify the Bahamas-United Kingdom Economic Partnership Agreement.

“Seventy percent of respondents were interested in exporting goods to the UK, but the main obstacles reported were finding information on market opportunities and import requirements, connecting with buyers and logistical issues.”

Johnson said these initiatives should result in a more robust and resilient economy, with more ownership opportunities for Bahamian businesses to tap into the international market for Bahamian-made products.

And with increased investment being listed as a top recommendation of the Economic Recovery Committee (ERC) in its recently released executive summary, Johnson pointed to areas the Department of Immigration can focus on to improve the investment regime.

“We have heard the cry for better customer service and efficiency, especially as it relates to programs that have been designed to use immigration as an instrument for investment and economic growth,” he said.

“To answer this cry, we have restructured our Monarch House operations and put in place new leadership to manage processing and customer relations. The deputy director of financial services is leading this transformation and, given her strong legal background and connection to the industry, we see a unique opportunity to improve the way these processes work.”

To that end, Johnson said the ministry is moving toward digitizing that area, making it a one-stop shop within the next month.

“Gone are the days when applicants would have to travel back and forth between offices. With this latest initiative, all services will be provided from one central location. Monarch House will now be a one-stop shop for permanent residency and citizenship, where applicants can enroll, pay and collect their documents without undue hassle. We anticipate that Monarch House will be fully operational as a one-stop shop by early November,” he said.

“We have also launched an internal secret shopper program where secret shoppers use department services and report on the quality of service received, the integrity of the process and adherence to all protocols and laws. This initiative is coupled with the revitalization of our complaints and corruptions unit in support of our objective of maintaining the highest standards of excellence in service and ethics.”

Johnson added that his ministry is exploring the possibility of offering “rush services” for a fee at Monarch House, as well as charging fees to visitors seeking to extend their stay in The Bahamas.

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source https://thenassauguardian.com/johnson-looking-to-trade-to-bolster-the-economy/