The government of St. Vincent and the Grenadines has announced the creation of a Private Sector Advisory Council, with Prime Minister Godwin Friday confirming the initiative will be operational by March 2026. This strategic body will function as a direct communication channel between the Cabinet and business leaders, facilitating structured dialogue on economic matters.
The council’s mandate includes regular assessment of economic conditions, identification of sector-specific challenges, and development of practical solutions to enhance the business environment while reducing operational costs. During his second high-level engagement with private sector representatives on Tuesday, Prime Minister Friday emphasized that the council would transform conceptual discussions into actionable policies supporting investment, job creation, and sustainable economic growth.
The forum, themed “Partners in Progress: A New Social Contract for St. Vincent,” brought together Cabinet members, senior government officials, and prominent business figures including Jimmie Forde (ACADO SVG), Shafia London (SLU Group), Derry Williams (Bank of SVG), Isola Giddings (SVG Hotel & Tourism Association), and Ronette Lewis (Centre for Enterprise Development).
Prime Minister Friday articulated that sustainable prosperity requires concrete partnership and action, stating: “We are not here for a talk shop, but a working session to forge a new social contract for 2026 and beyond. Prosperity is built on our farms, in our fishing villages, on construction sites, and in the boardrooms represented here today.”
The government’s initiative received regional endorsement from Dr. Patrick Antoine, CEO and Technical Director of the CARICOM Private Sector Organisation (CPSO). Speaking at the forum, Dr. Antoine advocated for strengthened public-private partnerships across the Caribbean region, emphasizing the need for evidence-based collaboration to drive investment, innovation, and effective policy formulation. He specifically highlighted opportunities for St. Vincent’s emerging industries and enhanced business integration with neighboring Grenada.
This establishment of formal government-private sector dialogue mechanisms represents a significant step toward advancing the CARICOM Single Market and Economy objectives while addressing national economic priorities through collaborative governance.