More international business on the way for Barbados

BRIDGETOWN, Barbados, January 30, 2009 – If things go according to plan, Barbados could be the base for a number of overseas pharmaceutical, biotechnology, wealth management research and development companies. That’s according to Prime Minister David Thompson as he announced government’s plans to woo the potential investors to the island.


“Other priority areas for development include alternative energy, and in particular, biofuel projects such as garbage conversion to produce electricity, solar and wind energy products,” he said


“There will also be emphasis on the export of our indigenous services. In addition, Government will place particular emphasis on the creative arts – art, fashion, music and film management, business consulting, education, health and wellness.”


The Prime Minister disclosed plans by Invest Barbados to establish business links with those countries that had already signed double taxation and bi-lateral investment treaties with Barbados. Plans are also afoot to penetrate Chinese and Latin American markets as a means of bringing in more foreign exchange.


“Next month we will also launch the Network Barbados website and invite the Barbadian diaspora to join us in building a better Barbados by helping to promote Barbadian services for export, tourism and through direct investment in opportunities promoted on the website,” he said.


“I can assure you that the government of Barbados, will, as a matter of strategic choice, continue to develop new products to enhance our competitiveness and to continue to build lasting relationships with regions and companies such as these,” the Barbados leader added.