Future businesses in Haiti want to ensure that there are legal protections in place that guard them against illegal business dealings. As of late, Haiti has made great strides in shoring up their legal protections for businesses in hopes of driving more companies to the island. Haiti recognizes the fact that if companies do not feel like there are legal ramifications for unjust business practices, companies will shy away from doing business with the country. According to export.gov, “Anti-money laundering and anti-corruption laws were passed by the GOH to ensure that Haiti's legislation corresponds with international standards. In early 2017, the Parliament enacted legislation making electronic signatures and electronic transactions legally binding. Other pieces of legislation that may improve Haiti’s investment climate are pending parliamentary approval, including incorporation procedures, a new mining code, and an insurance code.” These new legislations are helping renew the faith in Haiti’s government and legal system. This in turn will increase the likeliness of businesses headquartering in Haiti or investing in Haitian business opportunities. Another trickle-down effect could an increase in employment opportunities for the Haitian people which could also increase country …show more content…
A few companies and industries have tried to call Haiti home, but found it difficult due to negative government intervention or civil turmoil. Over the years, Haiti has seen companies such as the Reynolds Metal Company or offshore assembly companies come and go leaving Haitians out of jobs and some out of options. In the past, companies never consider moving their operations or head-quarters to Haiti because of the risks that are involved. As mentioned before, Haiti is very vulnerable to natural disasters and companies are not willing to chance their businesses being exposed to these costly risks. To mitigate risks, the Haitian government is trying to offer tax incentives in hopes of drumming up new businesses for Haiti. At present, the country offers taxable income reductions and tax exemptions that lure businesses to the country. Haiti has never offered tax incentives to foreign businesses in the past, so this a giant step for the Haitian