Barbados is facing marginalisation if it does not act decisively to ward off fresh attacks against its international business sector.
The Barbados International Business Association’s new President Ryle Weekes has issued that warning, saying he was keen to see Barbados fully realise its potential and firmly secure its place internationally as a leading financial and wealth management centre.
Weekes, who was elected to the post on Tuesday during BIBA’s annual general meeting at the Barbados Yacht Club, said:
“As the global attacks on international financial centres escalate and competition amongst jurisdictions intensifies, Barbados runs the very real risk of being marginalised if we are not proactive, nimble and sophisticated.
He acknowledged that with its extensive treaty network, advanced technological systems, highly educated workforce, stable political system, and sound legal infrastructure, Barbados has emerged over the years as a well-respected jurisdiction in which to live, work and invest. (SC)