PRESIDENT of the Barbados International Business Association (BIBA), Julia Hope, says that while more persons are aware of the revenue generated by the sector, there is still pressure to deliver solutions to more global businesses so that the sector can grow.
In fact, she believes that the international business sector has the potential to hire much more than the 5 000 persons currently employed.
According to Hope, “Legislation requiring jurisdictions like ours to prove that businesses are staffed appropriately is now on the statute books in keeping with international regulatory requirements. This is good news for Barbados; we have such a highly educated population. This requirement for substance will boost employment in the sector. We need to take full advantage of this.”
Hope, while addressing a number of key stakeholders at the launch, recalled that just one year ago, a dark cloud loomed over International Business Week as Barbados was forced to amend and/or repeal several pieces of legislation in order to be deemed OECD compliant, and the country was placed on and subsequently taken off the dreaded blacklist.