The 2024 Independence Day Message from the Barbados Private Sector Association.
The Barbados Private Sector Association (BPSA) congratulates the Nation of Barbados on the occasion of its 58th Anniversary of Independence and third anniversary as a Parliamentary Republic.
Having faced various challenges during the post-COVID- 19 pandemic, the BPSA is encouraged by Barbados’ continuing strong economic recovery and growth which is underpinned by record tourism arrivals.
Cognizant also of the need to diversify the Barbadian economy, the BPSA is encouraged by recent developments with regards to the Renewable Energy Sector, especially with respect to battery storage. These developments have the potential to unlock an estimated $3.5 billion in renewable energy investment into the economy of Barbados, protect our citizenry from global economic shocks caused by high oil prices and to preserve our biodiversity through limiting greenhouse emissions. The private sector stands united in our commitment to working with government and relevant stakeholders to realise these objectives.
Finally, the BPSA reiterates our support for the conclusion and implementation of Protocol VII of the social partnership. We remain determined to build upon the 58 years of socioeconomic development achieved through political independence and a resilient people. Similarly, we will promote and embrace the opportunities for growth with an expectation of a bright future for this relatively new republic. Once again, we also equally offer our prayers for a safe and prosperous nation.
Happy Independence Barbados. (PR)