BIBA’S ROLE LAUDED

Minister of Industry, International Business, Commerce, and Small Business Development, Donville Inniss, has commended the Barbados International Business Association (BIBA) for the role it has been playing in making the public aware of this vital industry, which makes a significant contribution to the economy annually.

Speaking during a church service to launch BIBA’s 9th International Business Week, at the St. Matthias Anglican Church, Hastings, Christ Church, yesterday, Inniss said the week of activities is important because the average Barbadian is not familiar with the sector.

He said though BIBA has been around for 20 years, there is still a way to go before the island gets to the point where international business is seen as everybody’s business. The Minister, therefore, called on Barbadians to participate in the week of activities.

“We really wish to make this sector better known. For those who may not be familiar with the details, we currently have over 4 000 companies operating in the international business financial service sector in Barbados. We contribute almost $900 million to the Barbados economy and that is growing,” he said.

The Minister also alluded to the fact that the performance of the sector also demonstrates that Barbados can punch above its weight in global affairs, contributing well over US$100 billion in activities to the global economy, annually.

He mentioned that while there are challenges in the sector, there is also a wealth of opportunities available, along with room for growth beyond the traditional markets.

“My Ministry is continuing to forge strategic alliances and partnerships with countries around the world, creating that enabling environment for the sector to grow.

“My Director of International Business, who is here this morning, can tell you of the many challenges that his department and Barbados face on a daily basis with those who are continuing to blacklist Barbados.

“Challenges of having to get out there and defend this [country] and its reputation as a country which is not a tax haven, [but] one that really and truly seeks to encourage the positive development of businesses of substance.

“We are going to grow the sector in a manner in which we are able to provide employment activities for the average Barbados,” he said.

President of the Association, which also marks its 20th anniversary this year, Marlon Waldron, gave the assurance that BIBA will continue to work with its partners and the Government to ensure that the international businesses sector is on the right path.

Waldron also pointed out that most people often do not realise the dynamic and far reaching effect of the sector and the many opportunities it has in store for the island.

On that note, the 2017 Week of Activities, which is being themed “International Business Barbados Embracing the Opportunities”, will continue to spread word about the sector through a schools symposium, scheduled to be held at the Lloyd Erskine Sandiford Centre on Tuesday October 17, beginning at 8:30 a.m.

A public discussion forum will also be held on Tuesday at the Grand Salle, Tom Adams Financial Centre, starting at 7 p.m. A career showcase will be held on the Guild Lawn at the University of the West Indies on Wednesday.

An international business conference is scheduled for Thursday and Friday at the Lloyd Erskine Sandiford Centre from 7 a.m. On Saturday, October 21, BIBA’s charity 5km Fun Walk and Run will take place at Pirate’s Cove, Bay Street, from 4 p.m. (AH)