Gov’t backing businesses in the local manufacturing sector

Government is committed to assisting the local manufacturing sector in creating high-valued, highly exportable products, as well as encouraging citizens to buy local.

Minister in the Ministry of Transport, Works and Maintenance Peter Phillips acknowledged the above yesterday, as the Barbados Manufacturers’ Association (BMA) partnered with the Barbados Tourism Product Authority (BTPA) during Tourism Week, to re-launch its Brands of Barbados/Buy Local campaign. That event was held at Catch 22 Restaurant in St. Lucy.

It was during the re-launch that Phillips stressed the need for Barbadians to better support local businesses as Government gives them its backing. He maintained that Barbadians must no longer view local products as inferior compared to foreign ones, as many meet high standards and are often sought after by persons residing overseas.

“There must be a multi-faceted approach to encouraging our citizens to buy local, which would in turn assist with job creation and boost entrepreneurship, which is necessary, as we transition Barbados to be the entrepreneurial hub of the world. This helps the economy, as there will be a reduction in imports of similar products, which ultimately leads to the curbing of foreign exchange leaving the country. This is why the Government is committed to assisting legitimate small businesses with unsecured Trust Loans, which will assist in their development of their brands, as well as the production of quality products,” Phillips remarked.

He meanwhile added, “Buy Local must not be just a catch-phrase, must not just be a saying. Buy Local must become a habit, a part of us, because if we are as a country to come out of this abyss that we are in, we have to…support what we produce here, not just in manufacturing, but even in terms of food provision and agriculture. We have to buy local, because every cent in foreign exchange that we spend, is money that we need to keep in Barbados, to help rebuild our economy.”