It is not difficult to accept that there is need for change to Barbados’ economic model.
In the same way that former Prime Minister Owen Arthur is suggesting that the international business sector can perform with local and indigenous businessmen using available technological platforms, then the same can be said for the renewable energy sector that is currently crawling at less than tortoise pace.
Local businessmen and prospective consumers have been frustrated by bureaucratic red tape and a lack of enabling legislation to free up if not remove an oligopolistic-type business environment that exists in the energy sector.
While there are reports of overtures being made by foreign interests, local investors are being placed in a virtual “holding cell” with no light at the end of the tunnel.
The longer it takes for Barbadians to lead in the renewable energy sector, the longer it will take our economy to grow with an increase in jobs, productivity, and profits across a range of business activities.
The ancient proverb reminds us that “while the grass is growing, the steed is starving”.
– MICHAEL RAY
