Pillar Presentation - Government Policy

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Government Policy Pillar Summit Outcome & 2011 Action Plan

description

Presentation of the ideas generated from the discussions, the gaps, medium to long term plans, priority areas for 2011.

Transcript of Pillar Presentation - Government Policy

Page 1: Pillar Presentation - Government Policy

Government Policy Pillar

Summit Outcome & 2011 Action Plan

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Mission

Set the conditions for a Business friendly Barbados in 2011 in order for Barbados to be the #1 Entrepreneurial Hub in the World by 2020

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What does World Class look like?• Supportive Regulatory Environment - India - rapid change to make businesses creation easier• Low corruption with strong and enforceable laws- in USA• IP protection – in USA• Government Support to R&D – California, Defense Dept funding of internet research , rapid licensing for commercialization of ideas from universities• Government commitment to education – Israel R&D programme in science and technology• Access to capital – Public and Private partnership 50/50 in Israel

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WHERE IS BARBADOS ON THE BENCHMARKS – INDICATORS (score out of 10)

Benchmark / Indicators World Class Barbados

Create supportive regulatory environment

USA - 8 4

Culture in the Public Sector 2

Support to Innovation Israel - 8 3

Social Partnership ??

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SITUATION in BARBADOS

Create supportive regulatory environmentLack of clarity and inconsistent application of legalisationSlow turn around times from Government departmentsSlow legalisative changesGovernment monopolies

Culture change in the Public SectorLack of will to drive significant changeLack of facilitation of business issues

Support to InnovationToo much process

Social Partnership• Lack of meaningful collaboration •Reactive not proactive

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National Policy for Entrepreneurship

‘Business friendly Barbados’Key Themes: Create supportive regulatory environment Culture change in the Public Sector Support to Innovation Social Partnership Facilitation of business (separate pillar) Education – cultural change (separate pillar)

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‘Business friendly Barbados’ Create supportive regulatory environment

Improve and enforce IP, NDA and copyright laws - S Business focussed immigration (skills and capital

inflow priority) - S Clarity, communication and enforcement of

legalisation – S Identify and measure progress by benching against

global competitive index – S Accessibility to non-sensitive Government information

(FOI act) – S Timely updating of legalisation to facilitate business

(eg Tourism Development Act) – M Flexible tax system to encourage risk and start ups –

M Removal of Government monopolies (eg CBC TV) - L

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‘Business friendly Barbados’

Cultural Change in Public Sector Review systems and conditions in order to

upgrade capability – S Simplify processes to increase competiveness -

M Create a ‘customer’ focus - L Increase accountability for Public Sector leaders

to deliver - L

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National Policy for Entrepreneurship – ‘Business friendly Barbados’

Support to Innovation Services led not just product (science and

technology) innovation - S Coordinated implementation of ‘e-commerce’

policy - S Clarity on how to rapidly achieve the ‘Green’

economy – S Increase Government internal use of IT - M

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National Policy for Entrepreneurship – ‘Business friendly Barbados’

Social Partnership (Public, Private and Labour) Increase Social Partnership engagement (3 x

champions per pillar) - S More capital available and the capability to

deliver it (Finance Pillar) Factoring services for Government debt – S Private sector help in drafting and preparing

initiatives for government - S Government pay businesses on 30 days - M

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National Policy for Entrepreneurship – ‘Business friendly Barbados’

Facilitation of business (separate pillar) Define micro business and bring into formal

sector (Small Business Act) Education – cultural change (separate pillar)

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2011 ACTION PLAN – EXECUTING THE PLAN

What Why When Who Status Remarks/Actions/Measures