Thursday, April 18, 2024

High costs to do business cause Barbados to lose out

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THE HIGH COST and other factors associated with doing business in Barbados are causing the island to lose out on the establishment of some companies.

This charge was made today by prominent economist, Sir Frank Alleyne, chairman of the Economic Policy Advisors Committee.

Sir Frank said because of these issues, people were opting to set up businesses in other countries in the sub-region and manage them from Barbados.

He listed among the problems: the slow decision-making by the public sector bureaucracy and the slow working of the court system, which was “characterised by frequent adjournments and inordinate delays in the issue of final decisions”.

Sir Frank’s address was part of the Ministry of Economic Affairs’ 8th Annual Lecture Seminar Series, at the ministry’s Warrens, St Michael home. (TY)

 

 

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