Barbados welcomes foreign investment. In fact the island’s trading partners have grown significantly and now include CARICOM, United States, Canada, United Kingdom, Germany and Japan.
Word of this comes from Chief Executive Officer (Ag.) of Invest Barbados, Sandra Payne, who was at the time addressing the seminar and networking session for a delegation from The People’s Republic of China, held at the Bagnall’s Point Gallery, Pelican Centre Bridgetown, yesterday.
She shared that Barbados enjoys a positive image in the marketplace, as a reputable international business centre and has successfully attracted international business and foreign direct investment for several decades, primarily from North America – Canada and the United States, as well as the United Kingdom and more recently from Latin America.
Moreover, she expressed that Barbados is attractive to investors seeking a good return on their investment, but also those investors that are seeking to establish businesses of substance – businesses that create jobs, earn foreign exchange, transfer technology and enhance skills, and generally contribute to economic activity.
“In terms of the international business sector, investors feel a sense of comfort because Barbados is a proven jurisdiction, having attracted investments from several jurisdictions for more than five decades now… Our main asset, our people are well educated. Our education system is based on the British model, and from high-end manufacturing to call centres to a full suite of professional and corporate management services, the Barbadian workforce can and does meet the needs of international businesses,” Payne assured.
“Barbados’ international business sector has been built on a strong foundation of an expanding treaty network that includes provisions for the exchange of information.”
The Acting CEO also indicated that investors choosing Barbados as a preferred jurisdiction also do so for a number of other reasons, such as its competitive tax regime, compliance with international standards such as those set by the OECD, its high quality infrastructure, social political and economic stability, welcoming policy towards foreign investment and general good relationships with the home government.
“Added to these Barbados offers an excellent quality of life,” she said.