Businessman Everson Elcock wants Goverment to give local contractors and consultants a larger slice of the pie in major construction projects.
And he suggests such projects should be carried out by local contractors.
“If these projects are broken down in various packages, it would give more players the opportunity to acquire the necessary insurance and bonds to carry out the work and we would see more foreign exchange remaining in the country,” Elcock said.
He was speaking at a cocktail reception at the Lloyd Erskine Sandiford Centre on Monday night to mark the 50th anniversary of Everson Elcock & Company Limited.
Elcock said that while Barbadians had done most of the work on local projects such as Hilton Barbados, Grantley Adams International Airport and Her Majesty’s Prisons Dodds, such projects had been subcontracted to large foreign construction management companies which would have been paid in foreign currency.
He said Barbados could have saved “substantial foreign echange if these projects had been carried out by local contractors”.
Elcock, who had left an established local company to launch out on his own in the electrical industry, said: “We have paved the way to encourage young entrepreneurs to fulfil their dreams by working hard to achieve their goals.”
He, however, regretted that after 50 years in the industry, though the company had gained respect from corporate Barbados, he was “not so sure that many of the consultants have fully accepted or respected us”.
Elcock also believed Government’s negotiations for loans for large projects should include local consultants. (GC)
