Chamber asks for red carpet

| 27/07/2009

(CNS): Calling for past differences between the Chamber of Commerce and the new Leader of Government Business, McKeeva Bush, to be set aside, Stuart Bostock, the Chamber President asked for an ‘open for business’ national policy and for red tape to be replaced with the red carpet. Speaking at the Chamber Legislative Lunch last week, Bostock asked the government to demonstrate to the world that Cayman is open for business and called for a review of the public sector.

Bostock took the opportunity to remind the government that investors demand clear, fair and transparent rules and the efficient processing of requests and applications. “We ask government to review the civil service as a matter of priority to determine whether its systems and procedures are suitable for attracting business,” he said.

He added that Cayman’s dynamic free market was under threat from over regulation and bureaucracy. “We must be willing to roll out the red carpet,” Bostock noted and also lamented the detrimental impact crime could have on the economy.  He said there was a pressing need to address the escalating level of violence and business crime threatening to destabilize our community. He said the Chamber had worked had over the years with the police to introduce crime stoppers, on fraud prevention and with gun amnesty programmes. He said a new committee had been formed and was in discussion with the new police commissioner about the introduction of a closed circuit television network in public locations and traffic safety cameras.

Speaking directly to members of the business community Bostock called on them to support each other.  “During these challenging times it is vitally important for us all to choose Cayman first and keep money circulating in our local economy and government requirements for products and services should be treated no differently.” When people purchased products or services off island, he said they threatened the viability of local businesses and put jobs at risk.

Bostock told chamber members it was time for forward thinking, for people to be progressive and be willing to adapt to change. “Cayman’s size has some real benefits and we can introduce systems and policies much faster than larger economies. The challenge we face as a nation is whether we have the desire and will to change,” he added.

The president who had a further 18 months in post offered the support of the chamber to the LoGB and said he looked forward to attracting new business to the shores of Cayman. Well over 250 members of the business community and government leaders gathered for the Legislative Luncheon where Bush reassured the business community that he would grow Cayman’s economy once again. (See Deficit reaches $75.9M)

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