The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE legislative reforms designed to revitalise the Bahamas’ small and medium-sized (SME) business sector is now ready, a Cabinet Minister said yesterday, adding that steps were being taken to ensure the draft Bill was “compatible” with the country’s long term strategic development plan.

Speaking with Tribune Business at the National Conclave of Chambers of Commerce, Khaalis Rolle, minister of state for investments, said that the Government would move forward with the SME legislation once the national development plan’s direction has been determined.

“The SME legislation is ready. We are just ensuring that it is compatible with the national development plan. We don’t want to implement something that is not compatible with the long-term strategic development of the country,” said Mr Rolle.

“All of the consultative work throughout the Family Islands and New Providence have been done. We’re comfortable with what we have, but just want to ensure that we don’t implement something that we have to roll back because it’s not compatible with the long-term strategic plan of the country.

“Once we map out where we are going with the national development plan, we will move forward with the SME legislation. It is prepared and a lot of work has gone into it.”

Referring to the proposed 25-year national development plan, Mr Rolle explained that the entity which will be responsible for its implementation would be a statutory body.

“We can’t afford to have it as a unit that doesn’t have any teeth. The entity that will be responsible for implementing the national development plan we want to have as a statutory body, so that when governments make their decisions their made with a planning philosophy, and it doesn’t ignore the fact that there has to be some plan attached to it based on what has been established,” said Mr Rolle.

Commenting on the progress towards the plan’s development, Mr Rolle said that of 16 consultants, six had now been shortlisted and would be evaluated to see which would move the initiative forward. Mr Rolle said next month was the deadline for finalising the consultant.