An industrial policy and strategy aimed at transforming and driving the manufacturing sector forward is in the works.
Stating that Government was determined to introduce measures to create an industrial sector that was technologically driven and export oriented, Minister of Industry Donville Inniss said such a sector would be better positioned to make a more meaningful contribution to the economy and assist in overcoming some of the economic challenges the country now faces.
Noting that his ministry had commenced stakeholder meetings, Inniss said: “This strategy will focus on the creation of a strategic road map to help Barbados achieve economic diversification, growing the business sector and promoting investment; widening the range of funding options and non-traditional sources that exist locally and internationally . . . strengthening the legal and institutional framework for the development of the industrial sector and support for industrial deepening strategies through the creation of backward and forward linkages within the industry and other related industries.”
Inniss stressed that the successful development and implementation of the policy and strategy would depend largely on public and private sector cooperation.
He reiterated that his ministry was committed to placing the highest priority on consultation, to ensure that the views and interests of the private sector were reflected appropriately.
Inniss made the comments over the weekend at McBride Caribbean Limited’s 25th Anniversary Awards Ceremony and Cocktail reception at the Errol Barrow Centre for Creative Imagination, University of the West Indies, Cave Hill Campus.