Mottley’s 15-point economic strategy

Government is pursuing a strategy for long-term growth which is being built on an ambitious 15-point strategy. They include the following:

• Creating a new body called Business Barbados
• Increasing public and private sector partnerships
• Reviewing tax structures and creating new investment funds
• Modernising the current tax system
• Digitisation and re-engineering business processes
• Unlocking the mortgage market
• Increasing access to financing for the private and public sectors
• Unblocking renewable energy investments
• Addressing the country’s demographic challenges by population and skills management
• Monetising illiquid and derelict assets in the public and private sectors
• Exporting capital to diversify investments given Barbados’ limited size and vulnerability, starting with the Caribbean Single Market and Economy (CSME) and the wider Caribbean, Central and Latin America
• Establishing the pharmaceutical industry to aid in the protection of Barbadians’ health and for export and foreign exchange earnings
• Developing Barbados as an Agri-processing hub
• Incentivising a vibrant creative industry and film industry
• Emphasis on capital projects