Barbados was in the spotlight as an International Financial Centre (IFC) of substance and domicile of choice for investors, at the recent Prospectors & Developers Association of Canada’s (PDAC) trade show for the mining industry, held in Toronto, Canada in March of this year. PDAC is the world’s largest mining and mineral exploration trade show, that in addition to attracting those from within the industry, brings together executives and foreign dignitaries interested in investment opportunities around the world.
Invest Barbados (IB) exhibited for the first time this year, at PDAC. Most visitors to the Barbados booth were keen to discuss with representatives from IB, the key benefits that the jurisdiction had to offer the international mining community.
Minister of Industry, International Business, Commerce and Small Business, Hon. Donville Inniss led Barbados’ promotional efforts to this event, participating in a number of engagements arranged to coincide with the event.
Among the other events attended by the Minister was a reception, co-sponsored by the Canadian accounting firm MNP (formerly Meyers Norris Penny) and IB, at which he delivered remarks to approximately 300 guests. He reinforced the message that Barbados remains a transparent, well-regulated IFC, which had a long-standing double taxation treaty with Canada. Barbados currently ranks third as a recipient of foreign direct investment flows from Canada. Minister Inniss also encouraged Canadian investors to utilise Barbados to improve their global competitive advantage. Several Canadian based representatives of international companies in Barbados got the opportunity to network with Mr. Inniss at the reception.
Another highlight of the promotional programme was the joint interview the Minister shared with the Minister of Mining in Kenya on the Canadian news channel, Business News Network. Minister Inniss presented Barbados as preferred domicile for Canadian investment flows into Kenya and other African countries.