‘Private sector too dependent’
Minister of International Business, Industry and Commerce Donville Inniss is not convinced the private sector in Barbados is operating as it should. Inniss said players in the private sector were too dependent on Government for concessions, grants and protection; and he wanted to see them operating more independently.
The minister made the charge yesterday at the official opening of Superior Solar Power Solutions.
Inniss said that while it was the duty of the Government to provide the enabling environment, growth in the economy should be led by the private sector.
“The private sector to my mind must see itself independent and very entrepreneurial. I have long contended that, generally speaking, our private sector in Barbados needs to be privatized. It is my considered opinion that we still have some ways to go to build a truly vibrant, independent and competitive private sector in Barbados. One that is more creative, financially independent, visionary and willing to take on greater risks, including venturing into other markets,” he said.
“We must put aside some of our narrow partisan differences and come to the realization that our problems are structural in nature, and, hence, previously tried cosmetic solutions will not place this island on a sustainable growth path. If the problems are structural in nature, then the solutions must be equally structural in nature.
Superior Solar Power Solutions was formed by a group of businessmen after about nine months of planning. The new company currently employs about 25 people, with the hope of increasing that number as the company expands.
Chairman Richie Alleyne said he and his business partners were attracted to the business, based on the several incentives currently in place.
“Looking into the future, we intend to expand into the field of photovoltaic and we sincerely believe that this will develop into a major part of our business after it is introduced sometime in the future,” said Alleyne, during the launch yesterday at the company’s Lodge Hill, St Michael location.
Stating that less than one third of the Barbadian household had solar systems at present, Alleyne said he and partners had seen potential for greater penetration. He also stated that the company already had plans for exporting to other Caribbean islands.
Other major players behind the company are businessman Ray Horney, Vernon Price and accountant Peter Douglas.