With the national mid-year budget review less than a week away.., the new president of the AMCHAM TT.. is urging government and the private sector.. to act boldly.. and collaboratively.
Its president Anna Henderson.., is calling for transparency, digital reform, and a crackdown on corruption.. as key pillars to rebuilding economic confidence.
00:00The newly appointed president of the American Chamber of Commerce of Trinidad and Tobago, Anna Henderson, is calling for bold action and renewed public-private collaboration ahead of the mid-year budget review scheduled for Monday.
00:13Henderson, who is also the CEO of Amaranth Business Solutions Ltd., made the remarks during her inaugural speech at AmCham TNT's annual general meeting on Friday, held at the Hilton Trinidad and Conference Center in Port of Spain.
00:28Our economic reality is that it is challenging and requiring all of us to move quickly to adjust and rebuild confidence. In this regard, we eagerly await the mid-term review.
00:39She said the Chamber is especially focused on how government intends to manage expenditure and borrowings while delivering better value across ministries.
00:50Henderson also tackled the sensitive issue of public sector inefficiencies and the perception of corruption, calling it a barrier for meaningful reform.
01:00With the widespread perception that there is too much fiscal leakage or, to be more blunt, corruption at all levels, we believe there is much room for efficiency gains by rooting out corruption even before addressing social programs.
01:15She added that while reducing transfers and subsidies is necessary, the focus should first be on eliminating waste within state enterprises.
01:25Her presidency launches under the theme, Opportunities in Transition, reflecting both global uncertainty and local demands for transformation.
01:33She outlined a series of policy goals that include trade reform, digital transformation and stronger collaboration between the private sector, labor and civil society.
01:43So a big part of what I hope to achieve over the next year is to identify the big things on which the business community, politicians, labor and civil society agree to work through with AMJAM TNT and our members.
01:57Henderson also praised the tone set by the newly elected government, saying early engagements with the private sector have been encouraging.
02:05Among her recommendations are improvements to the ease of doing business, including long-awaited customs reform and digitalization of key government services.
02:16She highlighted the need for the digitalization of immigration forms and pushing for pre-clearance at Piako International Airport, measures she believes could boost tourism and trade.
02:29However, Henderson warned that no economic reform will succeed if crime continues to plague the country.
02:35None of what I've outlined will succeed if crime continues to plague our communities, businesses and our homes.
02:43We understand the fear and frustration crime causes.
02:46It undermines confidence, stifles business and endangers lives.
02:51She called for intelligence-led policing and a stronger justice system, stressing that economic opportunity is itself a deterrent to crime.
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