Submitted by Douglas
The DLP is on the right track to restore growth to the Barbados economy. We are having constructive dialogue with stakeholders to implement the tough measures and minimise the impact on those affected. We have started that consultation long ago with stakeholders to identify strategies to restructure the Barbados Economy. We have introduced our home grown policies such as the recently passed Electric Light & Power Bill and income tax amendments which will grow the alternative energy sector in Barbados.
As we go through the necessary process to reduce the public sector, we are aware of hope on the horizon to grow the private sector to take up the slack. Government has signed off on the proposed financing arrangement for the new Sandals Beaches Hotel at Almond with the Chinese Government. The coastal work in preparation for the new cruise terminal at the port has already begun. Both the IADB and the Chinese Government have expressed interest in financing the Pier Head Marina. Cabinet will take a final decision on the financing in a few days. The construction of the waste-to-energy facility at Vaucluse will bring in US$300 million in investment. These and other projects will contribute significantly to grow the Barbados economy in 2014 and beyond.
The Barbados economy will turn around, – not through political gimmicks, but hard work and dedication.