Wednesday, Jul 18, 2018

International investors turned off by difficulty of doing business in Barbados

International investors turned off by difficulty of doing business in Barbados
15 Jun
2017

Increasing regulations in order to stamp out abuse of the financial system is having a negative impact on small businesses.

That's according to president of the Barbados International Business Association, Gregory McConnie.

Mr. McConnie also believes the country is losing its appeal to foreign investors due to the complexity of doing business here.

He expects this will be further compounded by rising inflation levels and shrinkage of the economy due to recent budgetary measures.

Mr. McConnie made the comments while addressing a meeting put on by BIBA and the Barbados Chamber of Commerce.

In her contribution to the discussion Michelle Williams-Boyce of Republic Bank says the Caribbean is seen as high-risk as it is regarded as a transhipment point for drugs and a tax haven.

Despite complying with measures, relationships between regional and international businesses could still be severed or derisked.

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