The Government minister responsible for the business sector wants more Barbadian involvement in international business.
Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, said he supported a redefining of the international business sector “to make it a more indigenous entrepreneurial arena”.
He was speaking in the House of Assembly this afternoon as the Estimates Debate focussed on his portfolio. “I agree with all who subscribe to the view that the international business sector in Barbados needs also to become more Barbadian, in the sense that there is greater opportunity for Barbadians to become entrepreneurs in related international business entities and areas,” he stated.
“Perhaps when Errol Barrow and the DLP back in 1965 created the (Industrial Business) Act they certainly had a clear vision of the role Barbados would play in the global arena, but I thought … in reflection of the debates then that it was also designed in great part for Barbadians to move themselves on to the global stage and not just for Barbadians to sit here and become the magnet to which is attracted those entrepreneurs from further afield.
“We certainly have opportunities now, with all of the CARICOM arrangement, the issues relating to rights of establishment and such like, for Barbadian entrepreneurs to really see themselves as real international players and move beyond the shores of Barbados,” he noted.
The St. Michael South MP said the international business sector would be in line for further legislative assistance in the new financial year due to start on April 1.
“This financial year coming, my ministry will work closely with the Attorney General’s Chambers, … the Chief Parliamentary Counsel’s Office, as well as the Ministry of Finance in particular, to bring to the table new products,” he told the House.
“I know mutual fund legislation and attendant regulation thereunder will of course be high on the list as well as matters related to limited partnerships.” (SC)