Heyliger-Marten announces studies on business finance and supermarket prices

Minister of Tourism, Economic Affairs, Transport and Telecommunication Grisha Heyliger-Marten said on Wednesday 28 October that two studies will examine financing for small businesses and the prices of essential supermarket goods in Sint Maarten. She announced the initiatives during a Council of Ministers briefing.

Heyliger-Marten said an Access to Finance Study under the National Recovery Program will review financing available to micro, small and medium-sized enterprises, whether it meets their needs and possible measures to address gaps. The study has her endorsement and that of the Minister of Finance, with technical support from the World Bank.

She also said the ministry is preparing terms of reference for an independent study of supermarket prices. The ministry expects to invite qualified firms to submit proposals through government platforms as early as 2 November, and the intended study period is six months.

According to Heyliger-Marten, the price study will use government-collected price information and comparisons with regional and other markets. It will examine transport, storage, labour, utilities, taxes, market competition, and relationships among importers, wholesalers and retailers. It will also consider shrinkflation and support a review of the basket of goods and the method used to regulate essential commodity prices.