Invest Barbados





 The Hon. Donville Inniss


Barbados: a Premier Domicile for IBFS

 

The Barbados Government is focused on developing the nation as the premier international financial and wealth management centre of choice in the Western Hemisphere within the next five years. It is therefore taking the necessary steps to ensure that the International Business and Financial Services (IBFS) sector continues to thrive.


Delivering the Opening Remarks at the fourth Annual IBFS Sector Conference, held on March 12 at the Grande Salle, Central Bank of Barbados, Minister of Industry, International Business, Commerce and Small Business Development, the Hon. Donville Inniss made these comments. The Conference, themed ‘The Barbados IBFS Centre: Moving Beyond Pass, to 1st Class!’ was hosted by the Central Bank of Barbados.

 

The Minister noted that despite the global and economic downturn, “a marked improvement” had been made in the sector’s performance, including “an 11% increase in tax revenue”, growth in the number of new licensees of International Business Companies and Societies with Restricted Liabilities, as well as an expansion in the total contribution of the sector to the economy, which stood at Bds$874 million in 2012, as compared to Bds$806 million in 2011.

 

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