International stock exchange the answer
The establishment of an international stock exchange can solve the island’s foreign exchange challenges, asserted Patrick Tannis.
“For years, we have said we wanted to restructure Barbados’ economy and that is what we are doing… The international stock exchange will solve the problem we have with foreign exchange retention…,” he told the crowd gathered at My Lord’s Hill, St. Michael.
“This will bring the end of dependence on the 35 weeks of imports… And the entities trading in New York … and Hong Kong will also be doing it here.”
Citing the party’s manifesto, St. Michael South East candidate Patrick Tannis said business facilitation between the Government and international businesses will improve through initiatives the party planned to undertake involving greater cooperation between regulatory and corporate affairs.
“Transactions that were once unavailable … international businesses will find working on the ground…,” Tannis added.
In addition, trade taxes will be reviewed in order to protect local businesses, the financial expert said.
Tannis also lauded the DLP’s decision to open a school of the arts, aimed at movie production. He said believed this facility could assist talented Barbadians in leading the charge in movie making and animation in the world. (LW)