Press release 2023-016
CBCS publishes research paper on the effects of red tape
Government and private institutions should take measures to reduce red tape
Willemstad/Philipsburg – According to a study by the Centrale Bank van Curaçao en Sint Maarten (CBCS) in both Curaçao and Sint Maarten, the financial institutions, the tax collector and utility companies are in the top five institutions that pose the greatest red tape burden. “The results show that not only the government, but also private institutions should take measures to remove or at least reduce red tape to improve the business climate and increase the contribution of businesses to the economies of Curaçao and Sint Maarten”, according to CBCS’ Economic Analysis & Research Specialist, Reggie Martes.