The 121st ranking in the World Bank’s 2016 ‘ease of doing business’ rankings “does not represent who the Bahamas is”, Prime Minister Perry Christie argued yesterday, touting a Competitiveness Council as the answer to these woes.

Mr Christie said this body will be created “in short order” as a public-private sector partnership (PPP) to “come to grips” with issues impacting the conduct of business in the Bahamas.

While delivering the opening remarks at the 2016 Accountants Week, Mr Christie said Competitiveness Council will harness the analysis and recommendations of the National Development Plan (NDP), and have a two-month timeframe in which to report back to him with a plan to improve the business environment.

The Bahamas fell one spot, from 120th to 121st year-over-year, in the World Bank’s ease of doing business rankings, with the drop in the ‘paying taxes’ ease, from 22nd in the world to 95th, cited as the main reason why this nation failed to improve its overall position.

Speaking on the Bahamas’ slippage, Mr Christie said: “It’s a serious matter, and we have spoken to the Chamber of Commerce. We know that with the National Development Plan (NDP), and with all the ideas relevant to our being able to improve in the area of doing business, we are hopeful that we are going to have in short order a Competitiveness Council and group of private public sector personalities, all with a view to being able to come to grips jointly with issues.”

Mr Christie said he was committed to changing the “downward slide” in the ease of doing business that has been experienced for the last decade.

 He added that unlocking the spirit of entrepreneurship is highlighted in the National Development Plan (NDP).