Need push on new ventures

THE BARBADOS CHAMBER of Commerce and Industry (BCCI) is seeking urgent feedback from businesses on investment projects that are awaiting Government approval, since quick action on such projects  could help the economy  to recover.
In a letter sent by the chamber to top local business entities last Friday, BCCI said such feedback was essential for private sector efforts aimed at stimulating the Barbados economy, whose mammoth fiscal deficit and plunging foreign reserves is forcing Government to send home 3 000 public sector workers in the  New Year.
The BCCI told its members: “It is imperative for the early recovery of the economy to ensure new investments, which will assist to offset the negative impact of the current austerity measures.”
The chamber not only called on members to give details on projects awaiting government’s approval, but also the dates on which applications were submitted, all requisite documentation, follow-up action taken to date, the current status of the applications, the scale of the investments, their potential for employment, and their potential for earning foreign exchange.