World Bank Ranks St Kitts and Nevis as Number 1 in Business Report

World Bank Ranks St Kitts and Nevis as Number 1 in Business Report

In the World Bank’s latest ‘Doing Business Report 2016,’ the Federation of St Kitts and Nevis has ranked first place among the Caribbean Community (CARICOM). The report is issued annually, and compares regulatory quality and efficiency in business, as well as the protection of property rights across 189 countries.

Speaking on the local radio-television station ‘Working for You,’ Kennedy DeSilva, Deputy Comptroller at the St Kitts and Nevis Customs and Excise Department, detailed the efforts of the country’s public sector in achieving the standards now recognised by the World Bank.

Number 1 in Business Report

“We used the automation a lot, we used risk management a lot, we used selectivity a lot so that we target only what we need to target and this is a smarter approach of doing things…,” said Mr DeSilva.
The St Kitts and Nevis feat in the World Bank’s flagship publication firmly displays the Government’s commitment to facilitating business, entrepreneurship, and investment on the twin-island nation. By international standards, the World Bank ranks St Kitts and Nevis as number 72 globally and number 7 for Latin America and the Caribbean.

The Prime Minister of St Kitts and Nevis, Dr the Honourable Timothy Harris, described the achievement as a “laudable commendation for the work of the Customs and Excise Department because […] the report surveys the level of satisfaction of the local business community, customs brokers, and other stakeholders in [the St Kitts and Nevis] local trading sector.”
Together with the Government, the Department is working to establish St Kitts and Nevis as the number 1 destination for business in Latin America and the Caribbean, particularly by sound-data collection, regulatory reform, and efficient use of resources.

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