Government is currently reviewing the incentives being offered to the manufacturing sector.
And, by year-end, it is hoped that Barbados will be World Trade Organization compliant in terms of incentives being offered for the industry and manufacturing sectors in particular.
Speaking this morning after touring two manufacturing companies, Doyle Sail Makers and Talius, both located at Six Roads Industrial Estate, St. Philip, Industry Minister, Donville Inniss, stated that the process for reviewing these incentives has been a work in progress.
Mr. Inniss indicated that thus far, he has seen proposals from public officers who have consulted ???far and wide??? in the private sector about the kinds of incentives that Barbados offers.
???I believe the Fiscal Incentives Act of Barbados will in the not too distant future become something of the past, as we roll out new incentives for this industry. The incentives that we roll out will have to be derived from further consultations; they also have to be derived from having a clear understanding as to the role of manufacturing in contemporary Barbados economy, as well as the role of the State in facilitating the growth and development of manufacturing.???
The Minister added that he was of the view that the future of the island???s manufacturing sector lay in its ability to innovate; to fully embrace technology; to be entrepreneurial in its administration; to be adequately financed; and to have the highest international standards in whatever it produced, whether for the domestic or export markets.
General Manager at Doyle off Shore Sails, Dana Seymour, explained that his company began operations in 1988 with a staff complement of eight, and has been ???growing ever since???, with a current staff of 40 persons.
Explaining that his company built custom, cruising, long life sail boat sails for export to the Caribbean and the United States, Mr. Seymour said they were currently trying to expand into other areas such as Cuba, with the United States being ???a great spot for growth???.
Meanwhile, Operations Manager at Talius Barbados, Andrew Gittens, said the 13-year-old company operated within the CARICOM market, and manufactured a range of hurricane protection products, ranging from roller shutters to stone panels.
Mr. Gittens stated that despite feeling the pinch of the economic strains, they have been ???blessed and fortunate to keep the company to a level where they can maintain their staff and keep things going???.
Pointing out that they also had a facility in Grenada, the Operations Manager said they have also focused on the Central American market, and have exported to Belize.??Talius Barbados exports to Dominica, St. Vincent, Antigua and Belize.