Turnaround

A local business leader is proposing an initiative for a comprehensive public-private sector strategy, aimed at turning around the social and economic fortunes of Barbados.

Mark Maloney (left)
Mark Maloney (left)

Chief Executive Officer of Preconco Limited, Mark Maloney, has written business leaders and corporate bodies requesting the start of “a discussion where everyone gives suggestions on simple things that cost no money, that every person in this country can do to make a change to help make things better”.

“My intention,” Maloney added, “is to take out a full page ad … over the course of a week to see how we can promote a better tomorrow, day after day and to get every person to think positive, act positive and to create positive results in their daily lives, which will help them and influence others.”

The CEO is suggesting that stakeholders make comments and include others who could make a meaningful contribution in their response. He said that at the end of this week, he would look to compile

all of the comments and come up with a heading and format, “so it can be published and it will be by ‘people promoting change’ or something appropriate”. Maloney’s recommendations include: “live within your means, try to always be honest, give an honest day’s work, try to be more productive every day and do something positive for your community every day”.

The Preconco boss is also arguing that the public and private sectors have to work together to bring about change.

“If we can communicate effectively to the country, we can get everyone confident in thinking that there is a better tomorrow,” he asserted.

“The number one asset that the country has, is its people; so why not do something that can help them be better.”

In response, Vice President of the Barbados Chamber of Commerce and Industry, Eddie Abed, told Barbados TODAY this afternoon, that his organisation had received the request from Maloney, and was currently reviewing it.

“I did receive the information. We are coming up with a summary, but that has not yet been done. The chamber is reviewing the information and will respond appropriately,” Abed stated.

Peter Boos
Peter Boos

Prominent finance and entrepreneurship expert, Peter Boos, who has been pushing for a similar approach to resolving the country’s economic problems, informed this newspaper that he supported the initiative.

Boos, Chairman of The Entrepreneurship Foundation of Barbados and Chairman Emeritus of Ernst & Young Caribbean, said: “Eerybody is trying to find solutions. I have been talking to the Central Bank Governor, the Chamber of Commerce and the Barbados Private Sector leader.”

Boos however suggested that while he supported any initiative to improve the situation in Barbados, the key to making it work effectively, was to remove the political divide from the process.

“We must come up with sound solutions at the national level. It is sad we have so much competence in the country and still can’t get things work. We are not setting out our vision clearly and agreeing to execute,” reasoned Boos.

“I am worried about the situation. It is a very serious one. If we can put aside the party politics and put the interests of the country first and make the right strategies, they can contribute to growth in the country again.”

The respected business strategist was of the view that the current national governance model needed revamping.

General Secretary of the National Union of Public Workers, Dennis Clarke said he would first have to see what the proposals were, before deciding whether or not to support the initiative.

Clarke said his main concern was the protection and maintenance of jobs within the public service.

“If Government cut public service jobs, it would make the situation worse,” the NUPW leader pointed out. emmanueljoseph@barbadostoday.bb

One Response to Turnaround

  1. JOHN FORDE August 12, 2013 at 1:20 am

    let me first state that the current situation of this the BARBADIAN economy and that of globe is a concerted effort of those wishing and intending to implement a single one world economy, hence many factors are at play here, one of which is AND of most importance is the destabilizing factor, an agenda of the IMF and its directives to the central banks of nations.
    we find our selves in a peculiar situation “if you are not with us, you are against us”…need I say more.
    SOLUTION….WE RALLY TOGETHER FOR EACH OTHER.
    Money was designed too circulate, any stagnation creates problems…the disposable income of workers has been eroded by taxation and inflation , those who has wealth are seemingly hoarding it, banks makes it difficult to those who are crying out…
    CREATE A CLIMATE FOR THE CIRCULATION OF MONEY.
    RECOMMENDATIONS.
    (1). debt….relieve debt burdens across the board via debt forgiveness notes.
    (2). abolish income tax and increase vat if necessary.
    (3). reduce the tax burdens of business by 50% and abolish those that are transferred / absorbed by the customer.
    (4). FOCUS ON JOB GERERATION, initiate capital and private venture projects WITH LOCAL LABOUR AND EXPERTISE.
    (5). A CENTRAL BANK DIRECTIVE TO CONTROL INTEREST RATES TO A MINIMUM
    (6). REGULATE CAPITAL FLIGHT.
    (7). CREATE A CLIMATE OF INCENTIVES FOR LOCAL INVESTMENT FOR LOCAL and FOREIGN INVESTORS.
    (8). INCREASE SALARIES AND WAGES PER ANNUM OF NOT LESS THAN 10%
    (9). CREATE, FACILITATE AND PROMOTE LOCAL BUSINESS VENTURES.
    (10). NICHE MARKET TOURISM.

    Reply

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