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Barbados unveils one-stop investment guide

Feb '20
As Barbados prepares to host the 15th quadrennial conference of the United Nations Conference on Trade and Development (UNCTAD) in October, it unveiled this month an online investment guide (iGuide), a one-stop repository that offers foreign investors up-to-date information on opportunities and conditions for conducting business in the country.

The site, www.theiguides.org/barbados, offers a comprehensive overview of business and labour legislation and various taxes including corporation, property and value-added tax, according to an UNCTAD press release.

It provides current information like legislation, steps and costs of starting a business on the island, investment opportunities and the country’s business environment.

“The iGuide will augment our efforts at making it easier for investors to do business in and with Barbados,” said Kaye-Anne Brathwaite, chief executive officer of Invest Barbados, the country’s economic development agency.

The guide covers customs duties, double taxation agreements, accommodation and construction in Barbados, among others.

“We anticipate that it will be a tool to attract more foreign investment in line with our developmental needs. It will widen our reach and put Barbados in front of global investors who would consult UNCTAD’s portal while shortlisting potential locations,” Brathwaite said.

UNCTAD conceptualised online investment guides with the International Chamber of Commerce. These currently cover 36 countries; Barbados is the sixth in the Caribbean.

The Barbados guide was developed in collaboration with the Caribbean Association of Investment Promotion Agencies and the Caribbean Export Development Agency.

The next step is the creation of a Caribbean investment portal to be presented at the UNCTAD15 conference.

Besides Barbados, Antigua and Barbuda, Curacao, Jamaica, St. Lucia and St. Vincent and the Grenadines have iGuides, while St. Kitts as well as Turks and Caicos are currently working on theirs.

Fibre2Fashion News Desk (DS)

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