In T&T: Cadiz Says New Policy Will Help All Firms

5 October 2011


A small step towards development perhaps? Minister Cadiz speaks to the implementation of a national Corporate Social Responsibility (CSR ) policy. He also refers to to the Single Electronic Window (SEW) as a panacea for decades’ worth of business inefficiency.

Trade and Industry Minister Stephen Cadiz yesterday gave the assurance that when the national CSR policy was completed and implemented, it would help all firms, regardless of size or scale.

Government is joining with the United Nations Development Programme to develop a national CSR policy.

Cadiz was one of the speakers at yesterday’s Chamber of Industry and Commerce breakfast meeting: “Corporate Social Responsibility (CSR) & Government: Bystander, Follower, Leader?” held at the Chamber offices in Westmoorings.

The Minister said that CSR demanded that businesses change the way they measure success, moving beyond the balance sheet to focusing on people and being more conscious of the environment.

He pointed out, however, that corporate Trinidad and Tobago was not completely aware of the incentives currently offered by Government for CSR.

Responding to attendees’ complaints about bureaucratic hurdles encountered in attempting to make donations to various agencies, Cadiz acknowledged that a revamping of the system was necessary. He noted that business could be given tax incentives to encourage CSR, but suggested, in turn, that businesses give employees time off for charitable work.

Government intends to create new opportunities for local businesses in the markets of the European Union (EU) and Central America, according to Cadiz.

Cadiz added that Government will be “streamlining” the operation of Single Electronic Window (SEW), an information technology-based trade facilitation tool, which allows parties involved in trade and transport to lodge standardised information and documents at a single entry point, in order to fulfil all import, export and transit-related regulatory requirements.

“(The SEW) is going to create all the efficiencies business have been clamouring for for decades,” said Cadiz.

Source

Comments are closed.