Barbados Investment & Development Corporation

Industrial Development Commission coming soon

Thursday, 28 May 2009 12:40

Barbados will soon have an Industrial Development Commission informed by the academia, government and the unions.

This was the word from Minister of Economic Affairs and Empowerment, Innovation, Trade, Industry and Commerce, Dr. David Estwick.

The Minister announced that his Ministry will be developing a comprehensive Industrial policy to carry the sector forward in the short to medium term over the next 10-12 years.  This Industrial policy will be driven by innovation and technology.

Noting the current economic crisis and the fact that major world economies are in recession, Estwick said this downturn will eventually give way to renewed growth and prosperity.

He urged the manufacturing fraternity to utilize this period of economic downturn to reboot and re-engineer its businesses to capitalise on the economic upswing when it occurs within the domestic, regional and international markets.

Source: Barbados Advocate, 31/03/2009