Bridgetown.
Government bureaucracy and the lack of access to finance are having a negative impact on the private sector in Barbados.
Leader of the Opposition Owen Arthur, told members of the Barbados Chamber of Commerce & Industry yesterday at their September luncheon meeting at the Barbados Hilton, it is a problem that must be fixed urgently.
"The negative impact of poor business facilitation has already dealt a cruel blow to our international business sector" Arthur told the business leaders.
He pointed to a report from Invest Barbados which stated that during the past two to three years, the island had missed out on US$1 billion in investments and 2700 jobs in the international sector.
"There can be no more half measures in promoting business facilitation. Whle Government is displaying the symptoms of chronic implementation deficit disorder, other countries are taking deliberate steps to make it easier to do business", he charged.
According to Arthur, the status quo was not longer an and nothing short of comprehensive reform would suffice if Barbados was to engender private sector led growth.
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