Bid to boost competitiveness
In a bid to improve the competitiveness of local producers, the Government of Barbados will soon embark on a multimillion-dollar project, Minister of Commerce and Trade Senator Haynesley Benn disclosed today.
He was delivering the feature address to mark the opening of a two-day small and medium-sized enterprise (SME) business support organization training workshop at the Savannah Hotel.
Benn said the project would consist of three major components: to strengthen the Barbados National Standard System by implementing a new National Infrastructure model, to modernize the BNSI administrative areas through the improvement of administrative processes and implementation of mechanisms for the integration and strengthening of the support systems and to modernize the physical and technological infrastructure.
With an estimated cost of $14.58 million – a $10 million loan from the Inter-American Development Bank and the remainder from Government – Benn said the project would include the building of a facility, the land for which has not yet been identified. (MM)