Government is pursuing a strategy for long-term growth which is being built on an ambitious 15-point strategy. They include the following:
Creating a new body called Business Barbados
Increasing public and private sector partnerships
Reviewing tax structures and creating new investment funds
Modernising the current tax system
Digitisation and re-engineering business processes
Unlocking the mortgage market
Increasing access to financing for the private and public sectors
Unblocking renewable energy investments
Addressing the country’s demographic challenges by population and skills management
Monetising illiquid and derelict assets in the public and private sectors
Exporting capital to diversify investments given Barbados’ limited size and vulnerability, starting with the Caribbean Single Market and Economy (CSME) and the wider Caribbean, Central and Latin America
Establishing the pharmaceutical industry to aid in the protection of Barbadians’ health and for export and foreign exchange earnings
Developing Barbados as an Agri-processing hub
Incentivising a vibrant creative industry and film industry
Emphasis on capital projects
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