The sixth annual UK Investment Mission to Barbados takes place from November 10 to 14. The mission will see 29 delegates representing 23 businesses from across the United Kingdom of Great Britain and Northern Ireland, as well as other European countries. The businesspersons will explore and assess firsthand, Barbados’ range of investment opportunities and experience all that the country has to offer.
The investment mission provides these companies with the opportunity to establish or partner with public and private sector organisations in Barbados, as well as to use the jurisdiction as a Caribbean hub to access business opportunities in regional and global markets. Each year, interest continues to grow among delegates in the diverse range of business opportunities available. As a result, some of these businesses are now at various stages of establishing entities in Barbados.
This year, delegates have expressed interest in areas including education, trade and distribution, space technology and innovation, high-net-worth representation, rapid-build construction and sustainable building materials, renewable energy, food manufacturing, intellectual property, and film. Notably too, the delegation of prospective investors from Northern Ireland has increased this year.
The UK Investment Mission is organised by Invest Barbados, the economic development agency responsible for attracting, landing, facilitating and sustaining global businesses in Barbados, in collaboration with the Renfrewshire Business Network of Scotland. Over the years, the event has become a staple on Barbados’ investment promotional calendar. The Hon. Kay McConney, M.P., Minister of Economic Affairs and Investment, addressed the delegates during the mission.
“In today’s world, where there are geopolitical shifts almost daily, and uncertainties are ever-present, it is encouraging to have leaders, business leaders and captains of industry such as yourselves, coming to Barbados so that we can scale up your knowledge and expand your relationships, recognising the potential that Barbados has to help you navigate this environment. Your presence, certainly a demonstration that Barbados remains attractive as a location for investment, offering … stability, reasonable predictability and a business friendly and a resilient environment.”
CEO of Invest Barbados, Kaye Greenidge, noted, “Over the years of hosting these missions, the partnership between Barbados and the UK has strengthened. Both the UK and Barbados stand to benefit significantly. Barbados gains from, among other things, job creation, skills transfer and economic growth; while UK businesses gain the opportunity to explore new markets and achieve strong return on investment.”
High Commissioner to the United Kingdom, H.E. Simon Mustard, also addressed the UK delegates. Over the course of the mission, several representatives from public and private sector agencies, as well as international organisations, will also deliver presentations. These include representatives from BIBA – The Association for Global Business, Barbados Chamber of Commerce and Industry, Caribbean Development Bank, Caribbean Foreign & Commonwealth Development Office, Compete Caribbean, Export Barbados, RBC, Royal Bank (Barbados) Limited, Regus and the UK Department for Business & Trade.
The United Kingdom remains one of Barbados’ primary source markets for tourism, a major trading partner, and one of the island’s key investment target markets.