The modernisation of data management systems in departments under the Ministry of International Business and Industry is a step closer to completion.
Minister of International Business and Industry, Ronald Toppin, gave an update during the virtual media launch of Global Business Week 2021 this morning. The event is being held online under the theme: Adapt. Evolve. Execute. Lead the Change.
Minister Toppin stated: “The Ministry is at an advanced stage of implementation of plans to bring the Corporate Affairs and Intellectual Property Office (CAIPO) and the International Business Centre’s data management systems into the 21st century. These IT systems will facilitate online applications, payments and electronic communication both internally and externally.”
He pointed out that the COVID-19 pandemic had served to “accentuate the critical necessity of the digitalising of these systems”.
Recently, it was announced that CAIPO was undergoing Phase One of its Corporate Registry Digitisation Project. This phase includes digitising the procedures to register business names; incorporate new companies as well as societies with restricted liabilities.
The International Business Minister acknowledged that the move to modernise had many advantages.
“The attendant benefits to both users and the Government include cost-efficiencies, accessibility and availability of information and enhanced security, all of which will contribute to the overall increased competitiveness of the global business sector,” Mr. Toppin stated.
President of the Barbados International Business Association (BIBA), Derrick Cummins, is in agreement. He pointed out that despite the loss of lives and disruption to business caused by COVID-19 in Barbados, there had been “innovation and a resolve to continue pressing forward”.
“We, in Barbados, efficiently adapted to changing the way business is conducted, moving to accelerate our digital transformation. We have come a fair way and are on the cusps of reaping the success of this accelerated push to improve the ease of doing business. Many of the agencies we work closely with (CAIPO, Barbados Revenue Authority, International Business Unit, Financial Services Commission) have, or are transforming daily towards a more accelerated drive to bring Barbados fully online.
“The global business sector has proven to be a largely resilient economic sector in Barbados in the face of the pandemic. We must seek to sharpen the saw and improve our processes towards being even more resilient and robust, especially in a digitalised economy. Technology will continue to shape how we do business, and the speed at which it is done,” Mr. Cummins said.