The state of Barbados??? economy was the central topic when General Manager of Starcom Network Inc., Dominic Beaubrun, paid a courtesy call on Finance Minister, Chris Sinckler at Government Headquarters recently.
Mr. Beaubrun, a Trinidadian, took up his appointment just over a year ago, and was accompanied by Starcom???s Manager of News and Current Affairs, Stetson Babb.
In response to a query from Mr. Beaubrun about Barbados??? economic prospects, Mr. Sinckler stressed that his mission was to ensure that this country maintained an adequate level of foreign exchange reserves to enhance stability in the economy, and through these, protect the current exchange rate peg.
The Finance Minister said Government???s goal was to do all in its power to boost the foreign exchange earning sectors of the economy, particularly tourism. He cited inadequate capacity as one factor inhibiting the growth of the tourism sector, noting that with the closure of Almond Hotel and some smaller properties, a large number of rooms were lost, and it would take time to build up the room stock once again.
In this regard, Mr. Sinckler said that projects such as Sandals, Four Seasons and Sam Lord???s Castle were very important to the future growth of the sector. Other proposed capital projects which he said should lend some impetus to the economy include the Bridgetown Port Development Project, the Marina project, the West Coast Sewage Project and the Road Rehabilitation Project.
Minister Sinckler welcomed the Starcom executive to Barbados and wished him well in his new position.