DESPITE CALLING 2014 a “tumultuous” year for international business given the significant impact of several overseas developments on Barbados, president of the Barbados International Business Association (BIBA), Connie Smith, is still projecting that the sector will maintain growth in 2015.
Noting that the work already being done to diversify into new markets in Latin America, Africa, and the Middle East was already yielding success, Smith said that BIBA was looking forward to continuing to work with Invest Barbados on developing the prospects in these regions.
However, Smith cautioned that these opportunities could be squandered if Barbados did not do what was necessary to improve the ease with which business could be done on the island.
“BIBA has developed an excellent partnership with the Ministry of International Business and we value this relationship. However, we are disappointed that 2014 has come to an end without having seen the legislative reform and business facilitation improvements at the level necessary to make Barbados a superior place for doing business.
“These much anticipated advancements have been in the pipeline for several years and, given the dire challenges we face with our economic growth, 2014 ought to have seen a greater commitment to creating that enabling environment that would stimulate and attract both the domestic and international private sector business activity.
“I was recently reminded by Sir Trevor Carmichael that in 2015, Barbados will celebrate 50 years of a legislative presence in the form of a modern international business marketplace,” said Smith.
“Implementing the requisite improvements and putting a sustainable, responsive engine in place would surely be a fitting tribute in recognition of this important cornerstone.
The business executive said she hoped 2015 would bring a renewed focus on implementation and execution and she called for all Barbadians to set aside partisan differences and instead row together in one boat toward a common goal of returning Barbados to solid economic growth. (PR)
