The Ministry of Finance and Economic Affairs, in association with the Inter-American Development Bank (IDB), has launched the Barbados Competitiveness Programme valued at US$10 million (BDS$20m).
It will take place over the next four years, and is aimed at increasing Barbados’ competitiveness.
The initiative will address several issues relating to taxes and incentives, business transactions and developments across various sectors, trade and logistics, public and private sector relations, among others.
During the feature address to officially launch the programme at the Lloyd Erskine Sandiford Centre yesterday, Minister of Finance and Economic Affairs Christopher Sinckler said that in order for the multi-million dollar project to be successful the private sector must be fully committed to its responsibilities.
“No firm, industry, sector or even country can experience productivity overnight,” he said.
“It requires support from the highest levels of authority in both the public and private sectors.
“The Government of Barbados will definitely provide the enabling environment for the programme to be successfully implemented, but it is the private sector also that has to be committed to its responsibilities under the programme.
“Without private sector support, it would be almost impossible to implement any of the activities described earlier under the programme.”
Sinckler said that given the “wide scope” of the project, it was necessary for all parties involved to play their part over the next four years.
He said the Programme Coordination Unit was “absolutely dependent” on the support from all those involved.
The steering committee draws on several Government departments, the trade union and representatives from the private sector.
Country representative of the IDB, Anneke Jessen, cautioned that while efficient execution of the programme was paramount to realising its effectiveness, it would not be easy given the wide cross section of divisions and agencies that would be involved. (MM)
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